NEW DELHI: The government is exploring if it was legally tenable to sell other assets of debt-ridden Jaypee Infratech to raise money to complete pending housing projects of the company, a top finance ministry official said today. Hundreds of home buyers had been left in lurch after the National Company Law Tribunal (NCLT) admitted bankers’…
Various benches of the National Company Law Tribunal (NCLT) courts are admitting fewer cases brought forward by trade creditors. The NCLT was constituted in June 2016 to hear proceeding under the Insolvency and Bankruptcy Code (IBC). Through insolvency proceeding, the government and the RBI aim to recover about Rs 8 lakh crores in bad…
Insolvency process for Bhushan Power and Steel has hit a fresh hurdle. A legal case between the troubled steel maker and its creditor, a Singapore-based shipping chartering service provider, may upset the whole process. This week a court will hear whether the moratorium declared under Insolvency and Bankruptcy Code (IBC) would be applicable in settling…
Even now, years later, Steve Josifovski doesn’t want to believe he was ripped off. Steve Josifovski thought he could trust his old school friend Lemuel Page, but eventually became just another of the conman’s many victims. Inset: Page and his then wife Fiona at a Josifovski family function in happier times. Photos: Max Mason-Hubers, Supplied After…
Stephen Hundy from Worrells, Canberra. So far, Ive focused on celebrating businesses in this series, as their owners are truly bucking the trends. But what if your business is not only not bucking the trends, but even sliding down a slippery slide to oblivion and financial ruin. What if you are so far from bucking…
DECEIT: Steve Josifovski thought he could trust his old school friend Lemuel Page, but eventually became just another of the con man’s many victims. Inset: Page and his then wife Fiona at a Josifovski family function in happier times. EVEN now, years later, Steve Josifovski doesnt want to believe he was ripped off. After all,…
NEW DELHI: The Noida Authority has asked the interim resolution professional (IRP) appointed for the Jaypee Infratech insolvency proceedings to keep the interest of the companys homebuyers as top priority. “We have told the IRP to keep the interest of homebuyers as top priority,” said Amit Mohan Prasad, chief executive officer, Noida Authority. Prasad said…
Labor is reeling after an adviser resigned amid revelations that the party bankrolled its 2016 federal election campaign with the help of up to $140,000 in donations from gold dealers linked to a multimillion-dollar tax scam. The resignation from NSW Labor of rising star, 2016 Senate candidate and gold trader Simon Zhou, comes as respected…
Noida (Uttar Pradesh): As hundreds of angry home buyers of Jaypee Wish Town staged a protest here, the Noida Authority on Saturday promised to protect the interests of the flat owners, saying a plan is being worked out in this regard. The home buyers gathered at the company office here, shouting slogans against the management…
London- A 58-year-old Indian-origin director of a pizza company in the UK has been banned for seven years for making payments totalling at least 205,000 pounds to a company in which he had a personal interest. Balwinder Singh‘s Charnwood Foods Ltd in the WestMidlands region of England had the franchise for Papa John’s Pizza in…