Bengaluru, June 12 (IANS) The National Company Law Tribunal (NCLT), Bengaluru Bench, has declared Congress MLC Naseer Ahmed bankrupt in connection with the default of loans amounting to Rs 1,454.71 crore owed by Bengaluru-based M/s Scotts Garments Limited, for which he had stood as a personal guarantor. The order has cast uncertainty over Ahmed’s continuation…
Uganda: A Comprehensive Overview of Insolvency Trends in 2025 In 2025, Uganda experienced a continuation of relatively low formal insolvency activities, marking a stable period in its corporate and financial landscape. Unlike many markets where insolvency often reflects economic distress, Uganda’s scenario was characterized by a predominance of voluntary business closures. These closures were largely…
Luton man handed suspended sentence for laundering millions in insolvency fraud scheme Luton Today Read the original article here
Tariq Sarwar fraudulently transferred more than £3 million from the sale of a Salford commercial property Christopher Francis laundered the money through a network of accounts and companies, returning funds to Sarwar with creditors losing out Both men have been sentenced following investigations by the Insolvency Service Two men who carried out a £3 million…
Social Security: Map Shows Benefits Crisis by State, Insolvency by 2032 inc.com Read the original article here
Bengaluru: Congress MLC Naseer Ahmed has landed in serious trouble after the National Company Law Tribunal (NCLT), Bengaluru Bench, declared him insolvent in connection with a massive loan default involving Bengaluru-based M/s Scotts Garments Limited. The development has raised questions over the continuation of his membership in the Karnataka Legislative Council. According to official proceedings,…
In a recent development under the Insolvency & Bankruptcy Code (IBC), the National Company Law Tribunal (NCLT) Mumbai Bench‑I has admitted State Bank of India’s (SBI) petition seeking initiation of insolvency proceedings against industrialist Anil Dhirajlal Ambani in his capacity as personal guarantor for loans extended to Reliance Communications Ltd. (RCOM) and Reliance Infratel Ltd. (RITL). The applicant, SBI, had sanctioned credit facilities of ₹565 crore to RCOM and ₹635 crore to RITL in 2016. Ambani executed…
Your browser does not support the audio element. The National Company Law Tribunal (NCLT), Mumbai Bench-I has admitted a petition filed by the State Bank of India (SBI) under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of the Insolvency Resolution Process against Anil Dhirajlal Ambani as a personal guarantor to…
The owner of a troubled Adelaide renovation company has declared bankruptcy, leaving almost $800,000 in debts and dozens of families stranded with gutted homes, unfinished work and no answers. 7NEWS can reveal Jase William Henry, the operator of SOS Home Renovations, lodged bankruptcy papers on Thursday afternoon. The documents list a long line of creditors,…
The NCLT has dismissed an insolvency petition filed by Empire Transport Services Ltd (ETSL) against Noida Metro Rail Corporation observing that there were ‘genuine’ pre-existing disputes between the parties over service quality, contractual obligations and payment deductions. The Allahabad Bench of NCLT rejected ETSL’s plea seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Noida…