The National Company Law Tribunal (NCLT) in New Delhi has simultaneously admitted two separate insolvency pleas against its subsidiary companies over combined defaults of nearly ₹2,772 crore. The tribunal initiated proceedings against Haridwar Highways Project Limited (HHPL) for a default of ₹2,386.51 crore and against Era Infrastructure (India) Ltd. for a default of ₹385.38 crore. The petitions were…
Model ID: a6362c0e-5817-46cb-a161-2edbeed96b17 Sitecore Context Id: a6362c0e-5817-46cb-a161-2edbeed96b17; There must be more direct assistance for workers seeking to recover unpaid wages after their companies restructure. Additionally, although the law will allow small businesses to renegotiate contracts that were agreed upon before the COVID-19 pandemic, a limit must be put in place. These were some of…
Folalumi Alaran in Abuja The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Sunday, has called for deeper collaboration with the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to strengthen the nation’s financial stability architecture and promote sound insolvency practice. Mr. Sunday made the call when the President of BRIPAN,…
New Delhi: Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through insolvency process as its offers to pay acquisition amount in two years have been found better than Vedanta‘s bid to make payments in five years, sources said. In early September, mining conglomerate Vedanta Group had…
New Delhi: Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through insolvency process as its offers to pay acquisition amount in two years have been found better than Vedanta‘s bid to make payments in five years, sources said. In early September, mining conglomerate Vedanta Group had…
The encounter with Moshe Yanai is deceptive. To this day, in interviews and articles written about him over the decades, Yanai (76) has been described as a successful high-tech entrepreneur, one of the pioneers of Israel’s tech industry in the 1980s, a brilliant electrical engineer, one of the founders of the modern data storage industry,…
Assent: Liquidator appointed as winding-up orders made against Yorkshire building control firm Yorkshire Post Read the original article here
In a significant move aimed at resolving long-pending insolvency cases, the Enforcement Directorate (ED) and the Insolvency and Bankruptcy Board of India (IBBI) have jointly formulated a Standard Operating Procedure (SOP) for the return of assets seized under the Prevention of Money Laundering Act (PMLA). Under the new framework, assets seized from insolvent companies and…
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New On The Block Miyoko Schinner — the chef and activist who pioneered artisanal vegan cheese — is mounting a bid to buy back Miyoko’s, the plant-based dairy brand she founded in 2014 and was ousted from three years ago. After raising more than $70 million and helping bring cashew-based butter and cheese to grocery…