The Ahmedabad bench of the National Company Law Tribunal (NCLT), while dismissing applications filed by a cotton spinning company seeking time to pursue a one-time settlement (OTS), held that OTS proposals, ongoing settlement discussions and identification of prospective purchasers cannot defeat or postpone adjudication of a valid insolvency application. The applications had also sought permission…
Indian insolvency courts are deciding if US-led foreign sanctions, such as OFAC designations, can be used as a valid excuse to halt bankruptcy proceedings. This case tests whether payment restrictions under international law override debt defaults in India, potentially changing how creditors recover dues from multinational-linked companies. What Happened Indian insolvency tribunals are currently addressing…
Jimmy Greaves struggled after retiring from football (Image: Getty) This article contains affiliate links, we will receive a commission on any sales we generate from it. Learn more Jimmy Greaves will be looking down on England as they aim to replicate his team’s heroics at the 1966 World Cup. The football icon enjoyed a wonderful…
The Insolvency and Bankruptcy Code, 2016 (“IBC”) was enacted to address insolvency and facilitate corporate resolution, not to adjudicate complex commercial disputes or operate as a debt recovery tool. However, as Indian companies increasingly operate within global corporate structures, insolvency tribunals are required to grapple with issues that extend far beyond traditional debtor-creditor relationships. One…
Aksara Commercial sells shares in India Power Corporation scanx.trade Read the original article here
Saks Global has officially emerged from Chapter 11 bankruptcy, completing a financial restructuring that slashed roughly 75 percent of its debt, the company announced Friday. It’s also rebranding its identity to be Exemplar Luxury Group as it looks to shift its focus from financial restructuring to growth. Please sign in to ensure you can read…
by Gregory Weaver, Fresnoland June 26, 2026 The former chief financial officer of Granville Homes has accused prominent Fresno developer Darius Assemi of raiding his own company — diverting as much as $16 million in corporate cash to secretly buy back a ranch his family had lost to its creditors, using a longtime business associate…
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REVEALED: Latest business liquidations in Brisbane The Courier Mail Read the original article here
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