NEW DELHI: Hapless homebuyers of Jaypee Infratech Limited moved the Supreme Court on Wednesday seeking relief against a blanket National Company Law Tribunal (NCLT) order staying all proceedings against the company, including those pending before the consumer courts. Their plea was mentioned by senior advocate Ajit Sinha before a bench led by Chief Justice of…
MUMBAI:On a Friday afternoon this month, Milind Kothari looked at his WhatsApp message with a furrowed brow. The India head of BDO, a leading professional services firm, had received a message from his turnaround and business support partner, Sundaresh Bhat, who had just taken over ABG Shipyard as interim resolution professional (IRP) on an order…
The Insolvency Service said this was mainly driven by a fall in IVAs, which fell around 16 percent compared to the first quarter which had the largest quarterly number of IVAs since records began. Bankruptcies during the second quarter increased nearly five percent compared to the same period last year. The Insolvency Service attributed this…
Aggrieved flat-buyers who have invested in Jaypee Infratechs projects have challenged the insolvency proceedings against the company in the National Company Law Tribunal (NCLT) before the Supreme Court. Buyers have expressed concern that the case would leave them in a lurch and remediless to either get a house or compensation from the company. A bench…
In his new capacity he will also be consulting Davis Cup players as well as all top German players, as the former powerhouse looks to reduce the gap with strong tennis nations. A former world number one who won six grand slams as a player, Becker was also a former Davis Cup coach for Germany…
“Boris Becker will be head of men’s tennis effective immediately and in this position he will be in charge of the entire men’s game,” Ulrich Klaus, the president of the DTB, told a news conference. Klaus said Becker would also have a consulting role in the Davis Cup team. A former world number one who…
Former world No.1 and Wimbledon champion Boris Becker has been given the task of revitalising men’s tennis in Germany, the governing body DTB confirmed on Wednesday. “I am very happy to be able to announce that the DTB has reached another milestone,” DTB president Ulrich Klaus told a news conference in Frankfurt. “Boris Becker will…
More than 30 construction companies in Queensland have collapsed this year. A new report into the risk of further failures puts another 444 building businesses at high to severe risk of failure in the next 12 months. An apartment glut and loss of Chinese investors are believed to be factors. A Brisbane-based construction company linked…
Considering the Jaypee fiasco, can RERA protect homebuyers when the company is undergoing insolvency proceedings? On the petition filed by IDBI bank, insolvency proceedings have commenced against Jaypee Infratech. Insolvency refers to a situation where the company is unable to repay its debt. Jaypee Infratech Ltd. is the subsidiary company of Jaypee Group which is…
BHS PENSIONS RAP Ex-racing driver who was probed by MPs over collapse of BHS now faces Pensions Regulator rap DOMINIC Chappell purchased British high street chain BHS for £1 from Sir Philip Green in 2015 just over a year before its collapse with a multi-billion pensions black hole. The 50-year-old former racing driver has been probed by…