The insolvency move of bankers has created a ripple effect in the industry with Lanco Infratech, one of the companies in the Reserve Bank of Indias list of 12, encashing bank guarantees of its suppliers. A similar predicament is being faced by steel companies whose suppliers and customers both have rushed panic messages to…
Sources close to the development said, the order to admit the plea was awaited. “They have heard the case.” Last month, lenders led by SBI had sent Electrosteel Steels to the NCLT for further action under the Insolvency and Bankruptcy Code (IBC). Electrosteel Steels was among the 12 cases identified by the…
Two directors of a groundworks company in the Highlands have been banned from running or controlling any further companies after failing to properly keep their accounts in order. Inverness Sherriff Court has handed an eight year disqualification to Donald Cameron (37), while his fellow director Steven Cameron (36) signed an undertaking agreeing not to run or…
The number of insolvencies rose by 13% in the first half of 2017 compared to the same time last year, new figures show today. The figures from business and credit risk analyst Vision-net.ie. show that 569 companies were declared insolvent in the first six months of the year, up from 502 in 2016. However, Vision-net…
– One quarter of Canadians with a mortgage agree they are ‘in over their head’ with their current mortgage payments. – Three in ten homeowners agree they will face financial difficulties if the value of their home goes down. Two in three Canadians think we’re in a housing bubble. – Almost half of Canadians agree…
– One quarter of Canadians with a mortgage agree they are ‘in over their head’ with their current mortgage payments. – Three in ten homeowners agree they will face financial difficulties if the value of their home goes down. Two in three Canadians think we’re in a housing bubble. – Almost half of Canadians agree…
Two directors of a groundworks company in the Highlands have been banned from running or controlling any further companies after failing to properly keep their accounts in order. Inverness Sherriff Court has handed an eight year disqualification to Donald Cameron (37), while his fellow director Steven Cameron (36) signed an undertaking agreeing not to run or…
Three decades ago, Boris Becker was wooing the world with his flamboyant tennis, which involved flinging himself dangerously around the court, diving headlong for volleys and delivering killer serves that earned him the nickname Boom Boom. But the erstwhile darling of Wimbledon, who, as an unseeded 17-year-old in 1985 became its youngest-ever champion, has suffered…
Mumbai: The Kolkata bench of the National Law Company Tribunal (NCLT) will hear State Bank of Indias (SBI) application to admit the case of insolvency proceedings against Electrosteel Steels Ltd, among the 12 cases identified by the Reserve Bank of Indias (RBI) advisory panel. Electrosteel Steels owes more than Rs10,200 crore to SBI-led consortium of…
Padlocked and falling apart: Rio Olympic legacy in tatters Waves batter the incline near the site of a collapsed section of a bicycle path in Rio de Janeiro, Brazil, on Thursday, April 21, 2016. Two people have died after a 50-meter section of a recently completed cycle path built as part of Rio de Janeiro’s…