NCLT rejects insolvency plea against auto dealer, says IBC cannot be used as debt recovery tool Kochi, The Kochi bench of the National Company Law Tribunal (NCLT) has dismissed an insolvency petition against a Kerala-based auto dealer, ruling that the Insolvency and Bankruptcy Code (IBC) cannot be used as a mechanism to recover private debts.…
The Kochi bench of the National Company Law Tribunal (NCLT) has dismissed an insolvency petition against a Kerala-based auto dealer, ruling that the Insolvency and Bankruptcy Code (IBC) cannot be used as a mechanism to recover private debts. The petition was filed by eight financial creditors against NCS Autocars Pvt Ltd in Pathanamthitta district, who…
Two suppliers have filed insolvency petitions against an Ola Electric subsidiary over alleged ₹40 crore payment defaults. The company is contesting these claims, citing a prior legal suit regarding quality standards. This development comes as the company works to improve its operational performance and narrow net losses. Electric two-wheeler manufacturer Ola Electric is currently navigating…
Ola Electric has described the matter as a commercial dispute, saying it had already initiated legal action against the suppliers over alleged quality issues with the components. Electric two-wheeler maker Ola Electric is facing fresh insolvency proceedings after two of its component suppliers moved the National Company Law Tribunal (NCLT), alleging payment defaults of around…
Builder jailed after taking money from homeowners while company was insolvent TheBusinessDesk.com Read the original article here
Herberts is a licensed insolvency practitioner with more than 15 years of experience. Credit: PeopleImages/Shutterstock.com. UK accountancy practice bk plus has named Peter Herberts as director of its restructuring and insolvency practice. Herberts will be based in the company’s Sheffield office and work within the restructuring team led by David Griffiths. Access deeper industry intelligence…
He also addressed ‘false and damaging’ rumours being spread about him 13:21, 06 Jul 2026Updated 13:52, 06 Jul 2026 Jon Stafford leading his band Haunt the Woods at The Kernowfornia Festival(Image: Submitted) The organiser of two arts and music festivals has come out to say how devastating the collapse of the two events has been…
If your employer goes bankrupt, do you risk losing your provident fund (PF) and gratuity? The short answer is no. However, while employees remain entitled to these dues, recovering them may still take time if the company is undergoing insolvency proceedings. Open FREE Demat Account within minutes! Join now The issue has come into focus…
Supreme Court Likens AI Hallucinations To Gas Behind Bhopal Gas Tragedy, Sets Aside CIRP Orders Over Fake Case Law Case Title : POOJA RAMESH SINGH Versus JAMMU AND KASHMIR BANK LTD AND ANR. Case Number : C.A. No. 11950/2025 Comparing fake AI-generated legal material to the release of methyl isocyanate (the gas behind the Bhopal…
The Insolvency Service is to deploy artificial intelligence to root out rogue directors who deliberately fold their companies to dodge tax and walk away from their debts, but the agency has admitted its new taskforce cannot fix an £800 million problem on its own. The chancellor committed £25 million over five years in November’s budget…