By: ENS Economic Bureau | New Delhi | Published:July 26, 2017 2:20 am Representational Image The principal bench of the National Company Law Tribunal (NCLT) in New Delhi on Tuesday reserved its order on whether the insolvency proceedings against Era Infra Engineering are maintainable. This is because there are several winding-up petitions against the company…
The U.S. Department of Justice agreed to lower the fine levied against Bumble Bee Foods for its role in a price-fixing scandal in part because a larger fine could lead to the companys insolvency, according to court documents filed last week. In May, Bumble Bee pleaded guilty to fixing the price of canned tuna between…
NEW DELHI: Shares of Amtek Auto fell over 4 per cent in Tuesday’s trade after the debt-ridden auto component maker said that insolvency proceedings initiated by a consortium of banks led by Corporation Bank has been accepted by the National Company Law Tribunal (NCLT). Following the development, the stock fell 4.49 per cent to Rs…
FORMER Blackburn Rovers captain Barry Ferguson has been made bankrupt with debts of more than £1.4 million. The ex-Scotland captain, who made 36 appearances for Rovers between 2003-2005, was declared insolvent after failing to settle large bills thought to be owed to the taxman. He is one of a number of former Ibrox stars who…
NEW DELHI: Debt-ridden auto component maker Amtek Auto today said insolvency proceedings initiated by a consortium of banks led by Corporation Bank has been accepted by the National Company Law Tribunal (NCLT). “The application filed by Corporation Bank under section 7 of the Insolvency and bankruptcy Code, 2016… before NCLT, Chandigarh has been admitted by…
Published 3 hours ago Kei Kamara set the MLS universe aflutter last week when he lambasted the league and the players union for a fine imposed on him for wearing Trusox, a popular sock product worn by many professional athletes around the world, in violation of MLS equipment deal with adidas. Speaking quite frankly in…
AHMEDABAD: Essar Steel, which failed to get a court stay on the bankruptcy proceedings against it moved by State Bank of India, told the National Company Law Tribunal (NCLT) that the insolvency petition was incomplete and not maintainable. The application should have been signed by the chairman of the bank and there was nothing to…
Debt-ridden auto component maker Amtek Auto today said insolvency proceedings initiated by a consortium of banks led by Corporation Bank has been accepted by the National Company Law Tribunal (NCLT). “The application filed by Corporation Bank under section 7 of the Insolvency and bankruptcy Code, 2016… before NCLT, Chandigarh has been admitted by the tribunal,”…
News Raymond Doherty 24 Jul 2017 02:32pm The National Bank of Ukraine (NBU) has banned PwC from audit work over an accounting black hole worth billions … Read the full article at: http://economia.icaew.com/en/news/july-2017/ukraine-bans-pwc-from-audit-work
NEW DELHI: The government has begun work on laying down a process for individuals to be declared bankrupt, which will help them deal with a financial crisis rather than be bogged down by it. The rules being framed will help a defaulter repay the money in a structured way, and not be forced to cough…