Promise To Arrange Funds In Case of Default Does Not Make Promoter A Guarantor: Supreme Court Case Title: UV Asset Reconstruction Company Limited v. Electrosteel Castings Limited Citation: 2026 LLBiz SC 3 Case Number: Civil Appeal No. 9701 of 2024 The Supreme Court of India has held that a promoter’s promise to arrange funds to…
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French studio Supamonks, which created the visual style for the commercially successful Absolum, has been declared bankrupt, raising questions about the fate of the planned animated series based on the game. Despite Absolum’s success, French studio Supamonks, responsible for the game’s visual style, is in the process of liquidation. The game sold over 500,000 copies.…
Udaan faces insolvency proceedings in Singapore over $170 million bond default: Report Moneycontrol.com Read the original article here
A historic Scottish pub company has been placed into liquidation. The liquidation of the operator of the pub near Glasgow, which is believed to date from the 1800s, follows administration. The Arthurlie Inn, on Main Street, Barrhead, has been placed into liquidation after three decades in the same ownership. It entered creditors’ voluntary liquidation on…
Mumbai | Bengaluru: Global creditors of IPO-bound Udaan, including banks and hedge funds, have initiated insolvency proceedings in the Singapore High Court after its offshore holding company Trustroot Internet Pvt Ltd defaulted on $170 million compulsorily convertible notes or bonds due on June 30, according to people aware of the development. The creditors have hired…
REVEALED: Latest business liquidations in Casey Herald Sun Read the original article here
SINGAPORE – After clashing with his court-appointed private trustee, a bankrupt man asked the High Court to have the trustee removed, citing what he described as an “irreparable breakdown” in their working relationship. But the court dismissed Alvin See Chuen Lim’s application, ruling that he has no legal standing to seek the trustee’s removal. It…
The National Company Law Appellate Tribunal (NCLAT) has said the moratorium available to companies undergoing insolvency proceedings cannot be used to shield assets alleged to be proceeds of crime, while upholding actions taken by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) against Siddhi Vinayak Logistics Ltd. The appellate tribunal said…
New Delhi: The National Company Law Appellate Tribunal (NCLAT) has said the moratorium available to companies undergoing insolvency cannot be used to shield assets alleged to be proceeds of crime, while upholding actions taken by the ED under the PMLA against Siddhi Vinayak Logistics Ltd. The appellate tribunal said if there has been any attachment…