India: Promoters look to stay close as companies begin insolvency process – DEALSTREETASIA

July 12, 2017 Promoters of some companies where insolvency and bankruptcy proceedings have been triggered are taking on operating roles to remain close to the action when the insolvency professional takes over. Take, for instance, Bhushan Steel Ltd, one of the 12 companies which the Reserve Bank of India has identified for triggering the Insolvency…

Era Infra says insolvency process may clash with pending winding-up pleas – Livemint

Mumbai: Era Infra Engineering Ltd on Tuesday questioned the Delhi bench of the National Company Law Tribunal (NCLT) over whether insolvency proceedings can be initiated against it when winding-up petitions are pending against the company. The tribunal was hearing an insolvency petition filed by Union Bank of India against Era Infra. The company is among…

Relief for Boris Becker as Swiss court rules in his favour in debt case – Deccan Chronicle

Geneva: A Swiss court has rejected a 36.5-million-euro claim against tennis legend Boris Becker by a former business partner, according to a judgment published Monday. Swiss businessman Hans-Dieter Cleven claimed the German former world number one owed him 40 million Swiss francs ($41.4 million, 36.5 million euros), after Becker was declared bankrupt by a court…