The National Company Law Appellate Tribunal (NCLAT) dismissed an appeal from Future Consumer Ltd (FCL) seeking insolvency proceedings against Aussee Oats Ltd. This decision supports the previous ruling of the National Company Law Tribunal (NCLT) in Mumbai. FCL claimed dues exceeding Rs one crore from Aussee Oats, part of an earlier Rs two crore…
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The ruling is more than a closure of a prolonged corporate rescue. In a judgment closely watched by lenders and investors, the court reaffirmed the finality of approved insolvency plans, clarified the interplay between the Insolvency and Bankruptcy Code (IBC) and the Prevention of Money Laundering Act (PMLA) once a plan is cleared, and shut…
Scheftner relaunches under new ownership following insolvency Metal Additive Manufacturing magazine Read the original article here
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Auditor General Nancy Gathungu, in the latest report, revealed that Pyrethrum Processing Company of Kenya is insolvent. [File, Standard] The Ministry of Agriculture plans to revive the Pyrethrum Processing Company of Kenya (PCCK) amid claims of insolvency and sabotage by a section of managers. This came as Agriculture Principal Secretary Paul Ronoh and the company’s…
Auditor General Nancy Gathungu, in the latest report, revealed that Pyrethrum Processing Company of Kenya is insolvent. [File, Standard] The Ministry of Agriculture plans to revive the Pyrethrum Processing Company of Kenya (PCCK) amid claims of insolvency and sabotage by a section of managers. This came as Agriculture Principal Secretary Paul Ronoh and the company’s…
The Chennai bench of the National Company Law Tribunal (NCLT) has held that the discretionary right of the tribunal under the Insolvency and Bankruptcy Code (IBC), 2016 cannot be used to Impel Financial Creditor to consider Settlement. Punjab National Bank, financial creditor the petitioner applied Section 7 of the Insolvency and Bankruptcy Code, 2016 (“the…
Play ends operations: live blog on airline collapse RÚV.is Read the original article here
Play ends operations: all flights cancelled, 400 lose jobs RÚV.is Read the original article here