The National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed against lenders of debt-ridden Mudra Denim, saying there was no laxity on their part for delay in insolvency process. The Mumbai bench of the National Company Law Tribunal had, on November 11 last year, while deciding creditors’ plea seeking extension of deadline…
The Reserve Bank on Thursday said it has filed an application with the National Company Law Tribunal, New Delhi bench, for initiation of corporate insolvency resolution process against Aviom India Housing Finance Private Limited. On Monday, the RBI superseded the board of Aviom India Housing Finance owing to governance concerns and defaults in meeting various…
IBBI chief Ravi Mital calls on Indian companies to embrace voluntary insolvency to boost productivity and maximize value, citing the success of such processes in developed countries. Learn more about the IBC and its potential benefits. New Delhi, Jan 30 (PTI) IBBI chief Ravi Mital on Thursday said companies in India have not learnt how…
An insolvency litigation funding service launched by Liverpool law firm Provenio Litigation a year ago is now backing claims worth more than £10m. Tony McDonough reports Mark Goodwin, founder of Provenio Litigation in Liverpool Liverpool law firm Provenio Litigation launched its insolvency litigation and financing optimise a year ago and the venture already has an…
Jordan Allen fraudulently secured a £50,000 Covid Bounce Back Loan in 2020 – the most businesses were entitled to under the scheme – by overstating his turnover by more than £200,000 His plastering business should only have received around £5,000 if he had submitted an accurate application for the loan Allen, who was declared bankrupt…
Date 1/30/2025 2:03:03 AM (MENAFN– Asia Times) Subscribe now with a one-month trial for only $1, then enjoy the first year at an exclusive rate of just $99. Will DeepSeek deep-six the US economy? MENAFN30012025000159011032ID1109147053 … Read the original article here
The Reserve Bank of India has filed for insolvency proceedings against Aviom India Housing Finance after superseding its board due to governance concerns and payment defaults. Mumbai, Jan 30 (PTI) The Reserve Bank on Thursday said it has filed an application with the National Company Law Tribunal, New Delhi bench, for initiation of corporate insolvency…
The Reserve Bank of India (RBI) has filed an application with a company tribunal to initiate insolvency proceedings against Aviom India Housing Finance. This decision follows the RBI’s earlier move to supersede the board of Aviom due to governance concerns and payment defaults. While the specific governance issues have not been disclosed, the central bank…
The Finance Minister is expected to place the Union Budget in Parliament on February 1, 2025. While critical fiscal law reforms are likely, the government should take this opportunity to initiate deeper reforms to revigorated the Indian stressed assets markets. The IBC was a radical structural reform when it was introduced in 2016. It has…
Subscribe to our FREE Newsletter, or Telegram and WhatsApp channels for the latest stories and updates. It has been said before but it must be said again; social media only shows the highlight of a person’s life and doesn’t tell the real story. If you’re feeling jealous of someone’s luxurious lifestyle, remind yourself that these people might actually be bankrupt or…