When Alberta’s United Conservative government contracted out community medical lab testing to a private company in December 2022, it said it would save tens of millions of dollars. Two weeks before that contract with DynaLife Medical Labs was set to take effect, the company told the province it needed additional funding. Less than three months…
Rosmerta Digital Services has filed an insolvency petition against Ola Electric Mobility’s subsidiary, Ola Electric Technologies, before the National Company Law Tribunal (NCLT), alleging that the electric two-wheeler maker has defaulted on payments for the services provided. This comes at a time when Ola Electric’s vehicle registration process transformation is in its final stages. The…
Ola Electric shares hit record low after unit faces insolvency petition MSN Read the original article here
A North Bay company in operation for decades has been deemed bankrupt by the court, and its approximately 50 employees have been let go with severance and pension packages in doubt. Central Welding & Iron Works was founded by Malcolm (Mac) Yetman and was purchased by partners Glenn Graham and Stefan Thomsen in 1980. Graham later sold his share,…
The insolvency petition comes at a challenging time for Ola Electric. The company is also facing financial pressure, having reported a net loss of ₹564 crore in Q3 FY25. NEW DELHI: Ola Electric’s stock dropped sharply on Monday, hitting a 52-week low of ₹46.94. The decline came after the company disclosed that an insolvency petition…
A North Bay company in operation for decades has been deemed bankrupt by the court, and its approximately 50 employees have been let go with severance and pension packages in doubt. Central Welding & Iron Works was founded by Malcolm (Mac) Yetman and was purchased by partners Glenn Graham and Stefan Thomsen in 1980. Graham later sold his share,…
Food delivery giant Zomato is facing an insolvency plea filed by uniform supplier Nona Lifestyle, which claims the company has failed to clear dues amounting to ₹1.64 crore, reported Bar and Bench on Monday, March 17. The matter, heard by the National Company Law Tribunal (NCLT), has been adjourned to April 3 after the tribunal…
Ola Electric shares hit all-time low, end 7% down; firm loses Rs 1,601 cr m-cap Deccan Herald Read the original article here
The free fall in Ola Electric share price came after Rosmerta filed an insolvency petition against its subsidiary Ola Electric Technologies for allegedly defaulting on payment Shares of Ola Electric Mobility plummeted over 7% in the morning trade today to hit an all-time low at INR 46.94 apiece, dragged down by the company’s disclosure that…
As many as 40,943 applications were filed under the the Insolvency and Bankruptcy Code (IBC), of which 28,818 applications involving Rs 10 lakh crore were resolved even before admission, Union Minister of State for Corporate Affairs Harsh Malhotra said in Lok Sabha on Monday. He also said that the introduction of the IBC in 2016…