The finance minister said there is a provision for running a company under insolvency proceedings. New Delhi: Finance Minister Arun Jaitley on Wednesday said the government has full sympathy with the agitating Noida homebuyers and they can seek relief under the insolvency law. Hundreds of home buyers had been left in the lurch after the…
Photo: PTI Jaitley said the government’s sympathy are with aggrieved flat buyers Observing that flat buyers who have paid money to developers should get their flats, Finance Minister Arun Jailtey said “our full sympathy” is with the aggrieved home buyers. The minister’s comments came after the initiation of insolvency proceedings against Jaypee Infrastech threw its buyers into a lurch. The Finance minister…
New Delhi: Finance Minister Arun Jaitley on Wednesday said the government has full sympathy with the agitating Noida homebuyers and they can seek relief under the insolvency law. Hundreds of home buyers had been left in the lurch after the Allahabad bench of the National Company Law Tribunal (NCLT) last week admitted IDBI’s plea for…
Representational pic – Jaypee Infratech insolvency plea Shares of Jaypee Infratech, a part of the debt-ridden Jaypee group, today hit lower circuit with reports suggesting that the government was exploring if it was legally tenable under insolvency laws to sell its assets to raise money to complete pending housing projects of the company. Hundreds of…
One Nation’s newest senator has used his first speech in federal parliament to highlight his migrant roots, bucking the trend of anti-immigration speeches from his party colleagues. Perth electrician-turned-politician Peter Georgiou credited his Greek immigrant parents with teaching him the value of hard work, pledging to always be proud of his Greek heritage as he…
The retired solicitor at the heart of a repossession standoff over his former south Dublin home is set to exit bankruptcy this month. Brian ODonnell and his wife, Mary Patricia, were declared bankrupt by the High Court in August 2013 after the family amassed debts of 71 million. The finding was later confirmed by the…
Section 44 of the Constitution sets out restrictions on who can be a candidate for federal parliament. Five subsections make clear what disqualifies people, but its article one that tripped up the two Greens, government minister Matt Canavan, One Nation senator Malcolm Roberts and deputy prime minister Barnaby Joyce. It rules out anyone with allegiance, obedience,…
On August 9, the Allahabad bench of National Company Law Tribunal (NCLT) admitted an insolvency plea of IDBI Bank relating to default of Rs 526.11 crore loan by Jaypee Infratech in its Wishtown project in Noida. NCLT has appointed Anuj Jain as the Interim Resolution Professional (IRP) to carry out the proceedings under the Insolvency…
Hundreds of homebuyers of Jaypee Infratech Group decided legal and political action on Tuesday after the private housing major in Noida teetered on the brink of insolvency. Around 500 of them gathered at a park in Sector 15A to chalk out a plan after the National Company Law Tribunal admitted the insolvency petition filed by…
Air Berlin has filed for insolvency and is in discussions with Lufthansa and the German government to rescue parts of its business, after its largest shareholder Etihad said it would not provide any further funding for the struggling airline. Germanys second-largest carrier has struggled to compete with low-cost rivals and has been kept in the…
