Adani Group keen to acquire Jaiprakash Associates by insolvency: Sources

New Delhi, Mar 26 (PTI) Business conglomerate Adani Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group’s flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy…

Liquidators warn of unpaid creditors

A southern-based firewood business has blamed shortage of wood, staffing difficulties, theft of cut wood and Covid-19 for its insolvency position. KD Firewood, which originated in Invercargill and later took over Wanaka Firewood, was put into liquidation by a special resolution of shareholders earlier this month. The company, which was incorporated in October 2019 and…

23andMe files for bankruptcy and will try to find a buyer

23andMe, a formerly high-flying genetic testing company, announced Sunday that it was declaring bankruptcy and that it would seek a buyer.  The company also said CEO and co-founder Anne Wojcicki is resigning immediately and will be replaced by Chief Financial and Accounting Officer Joe Selsavage as interim chief executive. 23andMe moved in November to slash…

Burning Sun Scandal: K-Pop Scandal-Ridden Burning Sun Entertainment Goes Bankrupt After Assets Fall Below 500 Million KRW | BIGBANG Seungri

K-Pop Scandal-Ridden Burning Sun Entertainment Goes Bankrupt After Assets Fall Below 500 Million KRW Burning Sun Entertainment has gone bankrupt. The corporation the infamous nightclub Burning Sun in Gangnam has officially begun bankruptcy proceedings, as reported by Korean media. On March 25, legal sources stated that the Seoul Bankruptcy Court’s Division 13 declared simplified insolvency…

Ola Electric Reaches Settlement, Rosmerta Group Withdraws Insolvency Pleas

Ola Electric Technologies Private Limited reached a financial settlement with the Rosmerta Group, leading to the withdrawal of insolvency petitions previously filed against the company. The resolution was confirmed in a regulatory filing on Tuesday. The dispute originated when Rosmerta Digital Services and Rosmerta Safety Systems filed insolvency petitions against Ola Electric Technologies, citing unpaid…