Inox Wind Limited (IWL), which is facing insolvency proceedings over unpaid dues of Rs 57 lakh to its Customs agent, has asked the National Company Law Tribunal (NCLT) to quash the case. “IWL has preferred an appeal before the National Company Law Tribunal (NCLT), praying that the said proceedings be quashed. The matter…
NEW DELHI: The Insolvency and Bankruptcy Code has segregated judicial and commercial aspects of the insolvency process whereby stakeholders have the right to decide on what suits them, IBBI chairperson M S Sahoo said today. The Code, which became operational in December last year, provides for a market-determined and time-bound insolvency resolution process. The Insolvency…
Are you a convicted criminal? A former bankrupt? Someone banned from holding a liquor licence in Victoria for 15 years? Is your business partner a member of a notorious outlaw motorcycle gang? Are you currently facing serious criminal charges? If the answer is “yes” to the above, then a career in real estate could still…
Insolvency and Bankruptcy Board of India (IBBI) Chairperson M S Sahoo said on Saturday mergers and acquisitions might increase under the code governing the sale of assets of companies unable to repay debt. The Insolvency and Bankruptcy Code (IBC) has been in the news since the Reserve Bank of India issued directions to…
Once the youngest player to have won the Wimbledon mens singles championship, 49-year-old German-born tennis star Boris Becker was declared insolvent by a British Bankruptcy and Companies Court at the end of last month. Becker, who, according to news reports, at one time boasted an estimated personal fortune of over £100million (R1.7billion), is not the…
AHMEDABAD: The Gujarat High Court on Friday reserved its order for Monday on Essar Steel‘s plea against the June 13 RBI circular to banks to act under Insolvency and Bankruptcy Code against the steel major and eleven other firms with over Rs 5,000 crore of outstanding loans each. A bench of Justice S G Shah…
PR dla Zagranicy Pawe Kononczuk 14.07.2017 11:21 Company bankruptcies have risen 15 percent in Poland in the first six months compared to the same period last year, according to a report. Photo: pixabay.com … Read the full article at: http://www.thenews.pl/1/12/Artykul/316278,Bankruptcies-in-Poland-rise
Never let it be said that Rhodri Philipps, 4th Viscount St Davids, fails to observe the niceties of social convention. While gracing a courtroom with his presence recently, and when called upon to stand under the name of Mr St Davids, he remained firmly seated. Because, as the 50-year-old aristocrat duly explained: Im not Mr…
MUMBAI: Wind power solutions company Inox Wind is headed for insolvency after the National Company Law Tribunals (NCLT) Chandigarh bench ordered the commencement of the process in response to an operational creditors plea, in the first such case in the renewable energy sector. The company has been facing tough times, reflecting the dichotomy in the…
Global security group Securitas has revealed that its chief executive was declared bankrupt this week after his identity was hacked. In a statement to investors, the company said that a fraudster had made a fake loan application in the name of Alf Göransson, its 59-year-old president and chief executive. To add to the embarrassment, Securitas said the unfortunate…