Byju’s founder, Byju Raveendran, alleged misconduct in the firm’s insolvency proceedings through a public appeal on LinkedIn. He later deleted the post a few hours after publishing it. Raveendran expressed his determination to prevent the company froiuof anything.”He further alleged the existence of “conclusive evidence of criminal collusion” between EY India, GLAS Trust, and the…
The National Company Law Tribunal (NCLT) has declared Ansal API bankrupt, putting thousands of homebuyers and investors in a crisis. The tribunal has also appointed an Interim Resolution Professional (IRP) to handle the company’s projects, raising concerns about whether investors will ever get their money back. What Went Wrong? Ansal API had undertaken major real…
Lucknow: Over 100 investors staged a protest at the office of Ansal API in Lucknow after the National Company Law Tribunal (NCLT) started proceedings of company’s insolvencyThe protesters demanded justice, claiming that their hard-earned money was stuck in the company’s projects.The NCLT has appointed an interim resolution professional (IRP) to evaluate Ansal API’s projects in…
TEMPO.CO, Jakarta – The Labor Party considers the work of the Minister and Deputy Minister of Manpower incompetent for failing to prevent the layoffs of thousands of employees of PT Sri Rejeki Isman Tbk or Sritex. President of the Labor Party, Said Iqbal, stated that the closure of Sritex on March 1, 2025, is the…
The Union government has assigned benches to 21 of the 24-newly appointed judicial and technical members of the National Company Law Tribunal (NCLT), weeks after calls to fast-track the assignment-process were made by the NCLT Bar Association. The Supreme Court too had in a November 2024 ruling expressed disappointment regarding the large vacancies in the…
Summary Emile Heskey had an impressive career playing for the likes of England and Liverpool. Heskey was believed to be worth £12 million at one stage of his life but declared bankruptcy in 2024. Heskey got himself into financial trouble after investing in a celebrity tax scheme. Football may be a career of glitz and…
Trio of factors keeps lid on personal bankruptcies The Australian Read the original article here
Amidst robust growth of electric two-wheelers, India’s first electric scooter maker Hero Electric is up for insolvency resolution under IBC (Insolvency and Bankruptcy Code), with the resolution professional (RP) inviting prospective bidders for the now bankrupt company. The Expression of Interest (EOI) from prospective bidders for the company was floated on February 18 and is…
Image: Dustin Franz/Bloomberg (Getty Images) Lordstown Motors was founded in 2018 by Steve Burns, the former CEO of a small commercial vehicle maker named Workhorse Group (WKHS), who saw an opportunity when General Motors needed to sell its Lordstown, Ohio, manufacturing plant. The automaker began negotiating with Burns under pressure from President Trump, who promoted…
Encore Capital Group Inc Ltd cold-called businesses and potential customers and then collected debts which they did not fully hand over. In some instances, they falsely claimed to be regulated by the Financial Conduct Authority (FCA). The company was shut down following a winding up hearing at the High Court in London on 25 February…