NEW DELHI: Keen to minimise hardship faced by companies going in for insolvency resolution, the government will from financial year 2017-18 allow a company to reduce amount of total loss brought forward including unabsorbed depreciation from the book profit for the purposes of levy of minimum alternate tax. This facility would be available only for…
SEREMBAN: Young people in the country need to be financially knowledgeable to keep them from falling into heavy debts, as well as risking being declared bankrupts. MCA Youth chief Datuk Chong Sin Woon said this was because last year alone, it was estimated that 70% of the individuals declared bankrupt were the young. “We saw…
Bankrupt property tycoon avoids jail for £20k benefits fraud BelfastTelegraph.co.uk A Belfast man who owed the bank millions as a result of the property crash appeared in court for a case cited by a judge as a “modern day tragedy”. https://www.belfasttelegraph.co.uk/news/northern-ireland/bankrupt-property-tycoon-avoids-jail-for-20k-benefits-fraud-36462198.html https://www.belfasttelegraph.co.uk/incoming/article36462788.ece/4ac84/AUTOCROP/h342/judge.jpg Email A Belfast man who owed the bank millions as a result of…
1: Tracking the trackersIt is hard to imagine there was a time when a man could stand up on a bus even a man in an ad and admit to not knowing what a tracker was. Over the past 10 years everyone has learned what a tracker is, not least because the mortgages have been…
FILE PHOTO: A man opens the shutter of a shop painted with an advertisement of Reliance Communications in Mumbai Thomson Reuters MUMBAI (Reuters) – China Development Bank (CDB), the biggest foreign lender to India’s Reliance Communications Ltd (RCom) , on Friday withdrew a petition seeking to drag the indebted telecoms carrier into insolvency. A lawyer…
By late Friday night, the optimism of the new year mightve taken hold. Maybe the Southern Kings wouldve pulled off a massive coup last night in their first Pro14 game of 2018 by beating Edinburgh on their home turf. If that has happens, they wouldve finally snapped a 10-match losing streak. But it probably wont…
Insolvency professionals are flummoxed by the latest rule from the Insolvency and Bankruptcy Board of India that prohibits them from outsourcing the work related to resolution of a bankrupt company. “All the assignments in which delegation of authority has taken place by the insolvency professional even if it is with the approval from the Committee…
A man withdraws money from an ATM at a branch of Vietnam Prosperity Joint Stock Commercial Bank (VPBank) in Hanoi, Vietnam Nov 15, 2017. (Reuters photo) HANOI: Vietnams national assembly on Monday gave authorities the ability to declare troubled banks bankrupt, through an amendment to a law on the operation of credit organisations, the government…
MUMBAI: The Reserve Bank of India has ordered banks not to initiate bankruptcy proceedings against Jaiprakash Associates, possibly in anticipation of legal complications after a Supreme Court ruling barred its promoters from selling or transferring assets, said bank executives. The ruling was aimed at safeguarding the interests of buyers of homes being built by the…
A man withdraws money from an ATM at a branch of Vietnam Prosperity Joint Stock Commercial Bank (VPBank) in Hanoi, Vietnam Nov 15, 2017. (Reuters photo) HANOI: Vietnams national assembly on Monday gave authorities the ability to declare troubled banks bankrupt, through an amendment to a law on the operation of credit organisations, the government…