Earlier this year, the Allahabad bench of the National Company Law Tribunal initiated insolvency proceedings against Jaiprakash Associates Ltd. in a plea moved by ICICI Bank Ltd. The tribunal held the construction company to be in default for Rs 1,269 crore. ICICI Bank had sanctioned loans to Jaiprakash Associates under six different facilities between 2011…
The NCLT admitted JAL to CIRP on June 3 on pleas filed by ICICI Bank and the State Bank of India (SBI). The tribunal cited the company’s significant debt burden as ground to admit the pleas. JAL faces a total debt of over ₹50,00 crore with multiple lenders having exposure. ICICI Bank alone claims over…
The liquidator’s report outlined three reasons for Forest Gold Honey’s insolvency. The first was the company experienced weaker sales than expected. It also struggled to find appropriately trained staff. Thirdly, the report said one customer had fallen outside credit terms. AdvertisementAdvertise with NZME. The liquidator’s report shows an estimated shortfall to all creditors of $450,000.…
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A 15% increase would see Band D household charges rising by £256 a year, from the current £1,708. The consultation comes after council leaders warned they would need to introduce “radical measures” to balance their books. In August the council wrote to the government saying it needs more support for Special Educational Needs and Disabilities…
Popeye’s. TGI Fridays. Roti. Buca di Beppo. And of course Red Lobster. These are just a few of more than a dozen high-profile restaurant chains that have declared bankruptcy in 2024. On one level, what we’re seeing is some restaurants buckle under the intense pressures the past two years have brought. There were the shortages, inflation, and…
Hunterbrook Media Claims Plug Power Could ‘Go Bankrupt Within a Year’ TipRanks Read the original article here
Home Drainage Protection Service Ltd aggressively cold-called pensioners, people with medical conditions and other vulnerable people offering fake drainage protection plans The company’s crude sales tactics included threatening people with the police and bailiffs if they did not sign up to their service The firm also made unexplained payments worth millions of pounds to dozens…
SEND deficits risk bankrupting almost three quarters of England’s largest councils by 2027, with government urged to take action County Councils Network Read the original article here
Ukraine’s National Bank declares Cominvestbank insolvent Interfax-Ukraine Read the original article here