The National Company Law Tribunal (NCLT) at Jaipur has imposed a cost of Rs. 5 lakh on a Jaipur-based company after holding that it had misused the insolvency process to block recovery action by State Bank of India.The tribunal dismissed the insolvency petition filed by M.D. Suitings Pvt. Ltd. for its own insolvency under Section…
HSBC has initiated bankruptcy petitions against Aidan Barclay and Howard Barclay, marking a further escalation in the unravelling of the Barclay family’s business empire following the collapse of their logistics group. Court filings show the bank lodged the petitions in the High Court in December, after recovering only about £1.1 million of a £143.5 million…
Hundreds of British hospitality workers face losing their jobs in the coming days as the owner of TGI Fridays finalises plans to buy back a slimmed-down version of one of Britain’s best-known casual dining chains. Sky News has learnt that Sugarloaf TGIF Management, which only took control of TGI Fridays two months ago, is preparing…
Hundreds of British hospitality workers face losing their jobs in the coming days as the owner of TGI Fridays finalises plans to buy back a slimmed-down version of one of Britain’s best-known casual dining chains. Sky News has learnt that Sugarloaf TGIF Management, which only took control of TGI Fridays two months ago, is preparing…
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The chain is run from Walsall The chemist could face insolvency after a high court application was filed (stock image)(Image: Eric Thayer/Getty Images) A pharmacy chain based in the West Midlands could be facing insolvency after a popular bank lodged a high court application to launch proceedings. Jhoots Chemist, which is run from Walsall by…
DOMO Chemicals’ German subsidiaries enter insolvency as administrator explores restructuring options amid weak demand, high energy costs, and import pressure. Three German subsidiaries of the Belgian chemical group DOMO Chemicals–DOMO Chemicals GmbH, DOMO Caproleuna GmbH, and DOMO Engineering Plastics GmbH-have formally entered insolvency proceedings under German law. The responsible local court has appointed Lucas…
Credit rating agency ICRA has termed the proposed amendments to the Insolvency and Bankruptcy Code (IBC) encouraging, saying they could help improve recovery rates and reduce resolution timelines. However, it cautioned that long-standing structural challenges in the real estate sector remain largely unaddressed. ICRA noted that the real estate and construction sector continues to account…
Year-End Review 2025: Transformational Reforms and Institutional Strengthening by the Ministry of Corporate Affairs—From Ease of Doing Business and MCA V3 Transition to Insolvency Resolutions and Expanded Regulatory Infrastructure The major initiatives and achievements of the Ministry of Corporate Affairs during the year 2025 are as under: Reforms in Merger and Acquisition Framework In line…
Believer Meats files for bankruptcy, drawing the curtain on what was once billed as a breakthrough venture poised to redefine how meat reaches dinner plates. The cultured-meat company, formerly known as Future Meat, entered insolvency proceedings Thursday in the Lod District Court after failing to secure financing to service its debts and operate a massive…