The National Company Law Tribunal (NCLT) in Mumbai has admitted the Prudent ARCs application to initiate personal insolvency resolution proceedings against Mahesh R Shetty, promoter of the listed coaching firm MT Educare, formerly known as Mahesh Tutorials, for a Rs 16.64 crore default by the company. Shetty was a personal guarantor against these loans.The tribunal…
The National Company Law Tribunal (NCLT) has granted an extension of 60 days to the grounded air carrier Go First for completing the insolvencyprocess. This is the fourth extension for Go First to complete the Corporate Insolvency Resolution Process (CIRP), which is struggling to find a buyer.Earlier, the insolvency tribunal had granted an extension of…
2 min read Last Updated : Jun 12 2024 | 4:42 PM IST The National Company Law Tribunal (NCLT) has granted a 60-day extension to the Corporate Insolvency Resolution Process (CIRP) of the grounded airline Go First, emphasising that this would be the final extension, according to a report by MoneyControl on Wednesday. This marks…
NEW DELHI:The National Company Law Tribunal (NCLT) on Wednesday granted a final 60-day extension to the bankrupt Go First airline to complete its corporate insolvency resolution process (CIRP). This extension, which lasts until August 3, comes amid challenges and legal implications stemming from a Delhi high court ruling that deregistered all leased aircraft held by…
A recent court case has demonstrated to trustees the withdrawal and transfer of superannuation benefits prior to declaring bankruptcy will not protect those assets from creditors claims even if they remain within the retirement savings system, according to an SMSF technical specialist. Heffron head of education and content Lyn Formica noted this outcome had occurred…
A growing number of councils in England have declared bankruptcy since 2018, most recently Nottingham, Woking, Thurrock and Birmingham. With the situation in the devolved nations of the UK looking similarly precarious, the question of quite what has happened to local government finances in the UK is an urgent one. A council cannot, technically, go…
Insolvency appellate tribunal NCLAT has issued a notice to ICICI Bank over the plea of Jaiprakash Associates Ltd and said the private sector lender may consider the one-time settlement proposal submitted by the debt-ridden company by June 24, the next date of hearing.During the proceedings of NCLAT, JAL through its counsel submitted that it is…
The Australian Financial Security Authority (AFSA) will sharpen its regulatory posture to maximise its impact as personal insolvencies head back towards pre-pandemic levels, chief executive Tim Beresford says. He said a modernisation program was underway that would make it simpler for most bankrupts typically consumers involving small amounts to go through administration so AFSA could…
By Cameron Charters Published: 00:28 AEST, 11 June 2024 | Updated: 00:32 AEST, 11 June 2024 Coronation Street star William Roache today avoided being declared bankrupt over half a million pounds wanted by the taxman. The actor, who is best known for playing Ken Barlow, invested … Read the full article at: https://www.dailymail.co.uk/news/article-13513929/Coronation-Streets-Bill-Roache-92-avoids-declared-bankrupt-500-000-wanted-taxman-HMRC-dismisses-case-High-Court-hearing.html