The Insolvency and Bankruptcy Board of India (IBBI) has made it mandatory for resolution professionals (RPs) to inform the national company law tribunal (NCLT), if a personal guarantor fails to submit a repayment plan. The new rule will effectively increase the accountability of personal guarantors, make it difficult for them to escape culpability. “Where no…
In the lead-up to the United Kingdom’s famous Glastonbury festival this summer, well-heeled partiers shelled out for fancy “glamping” yurts — those tent-like dwellings with ancient origins in Central Asia that have been appropriated by hippies in recent decades — and the people who took their money are now telling them they’re out of luck. As the…
Jaiprakash Associates lenders approved Rs 936.27 crore cash outflow for the current quarter to keep the company operational during insolvency proceedings. The company is also cooperating with the Enforcement Directorate. New Delhi, May 25 (PTI) Lenders of Jaiprakash Associates have approved budgeted cash outflow of Rs 936.27 crore for the current quarter to ensure that…
Liz Porter, 54, who has bought a home after being bankrupt in her 20s. An Aussie IT manager has detailed the startling string of events that led her into bankruptcy and how she managed to turn things around and become a successful investor and homeowner. Liz Porter was told she would never amount to anything…
Reliance General Insurance, a subsidiary of Reliance Capital recently acquired by IndusInd International Holdings Ltd (IIHL), posted a 12.5% increase in net profit to Rs 315 crore for the financial year ended March 2025, as the company recovers from nearly three years under insolvency proceedings.The company’s Gross Direct Premium (GDP) rose 7.4% year-on-year to Rs…
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UK Supreme Court confirms broad scope of fraudulent trading provision under s.213 Insolvency Act 1986 Mayer Brown Read the original article here
Founded in 1994 as a specialist insolvency and restructuring firm, Friel Stafford continues to be one of the busiest insolvency practices in the country, according to Tom Murray, a partner. “2024 was another very busy year for our insolvency and restructuring teams. “Even in the best of economies, companies face challenges and difficulties, and we…
As soon as it becomes clear the company you work for is winding down and taking your job with it, it’s time to start collecting documentation, like records of employment, T4s and contracts or letters describing your pay, commission and vacation, said Neena Gupta, a Waterloo, Ont.-based partner at Gowling WLG. Read the original article…
Home Entertainment Amitabh Bachchan once went bankrupt and it affected Mukul Dev’s career in Bollywood due to… Do you know that Amitabh Bachchan’s production house had signed Mukul Dev for his… Scroll down to read more. Bollywood actor Amitabh Bachchan is the epitome of versatility. The actor has been contributing to Indian cinema for decades.…