BGR Energy Insolvency Plea: NCLT admits ₹584.67 Cr default case, firm to appeal

BGR Energy Systems has informed stock exchanges that the National Company Law Tribunal (NCLT), Amaravati Bench, has admitted an insolvency petition against the company, initiating the Corporate Insolvency Resolution Process (CIRP). According to the company’s disclosure, the tribunal, in its order dated April 17, 2026, admitted the application filed by National Asset Reconstruction Company Limited…

Canadian Insolvency: Key Developments and Emerging Trends

Several significant judicial decisions were released in 2025 that remain relevant to businesses, commercial lenders and restructuring professionals. This bulletin summarizes the key developments of 2025 and highlights areas of significance for restructuring professionals and market participants to monitor in 2026. 1. Hudson’s Bay Company and Assignment of Contracts North America’s oldest corporation, the Hudson’s…

Rs 15 lakh PF deducted but not deposited: HC allows criminal case to continue against director of company that turned insolvent

A company had deducted Rs 15.14 lakh from employees’ salaries for their provident fund for the period March 2012 to March 2013 and from May 2013 to July 2013, but didn’t deposit this money with the Employee Provident Fund Organisation (EFPO). Now, this company is insolvent. Seeing this gross misconduct, the Employee Provident Fund inspector…

Bolton director banned over £50,000 Covid loan claim

Arash Sharafzadeh, 33, overstated his company’s turnover to claim the maximum loan under the government scheme during the pandemic. Mr Sharafzadeh, who ran BSG Bolton Ltd, applied for the loan on September 4, 2020, and said the company’s turnover in 2019 was £210,566. However, the company’s actual turnover for the year ending July 31, 2019…

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