NCLT declares Congress MLC Naseer Ahmed insolvent over a Rs 1,454.71 crore loan default. The order puts his Legislative Council membership and voting rights at risk, as he was a personal guarantor for his family’s company loans. In a major setback for Congress MLC Naseer Ahmed, the National Company Law Tribunal (NCLT) has declared him…
Karnataka: NCLT declares Congress MLC Naseer Ahmed, wife, son bankrupt Deccan Herald Read the original article here
The National Company Law Tribunal (NCLT) has declared Congress MLC Naseer Ahmed insolvent for defaulting on bank loans and interest amounting to Rs 1,454.71 crore, posing a threat to his Legislative Council membership and voting rights. The case involves a garments company where Naseer Ahmed served as Managing Director while his wife, Ayesha Naseer, and…
ANI | Updated: Jun 13, 2026 05:42 IST Bengaluru (Karnataka) [India], June 13 (ANI): In a major setback for Congress MLC Naseer Ahmed, the National Company Law Tribunal (NCLT) has declared him insolvent over default on bank loans and interest totalling Rs 1,454.71 crore. The order puts his Legislative Council membership and voting rights at…
Hybrid-electric Aircraft Developer Maeve Aerospace Goes Bankrupt Aviation International News Read the original article here
Summary In the case at hand, Z company, which was an indirect shareholder of a GmbH (a German limited liability company), had given two loans to that GmbH. In 2009, insolvency proceedings were opened over the assets of the GmbH on the grounds of illiquidity and over-indebtedness. Z company initially filed its loan receivables with…
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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