Major St. Petersburg banana importer declared bankruptcy. The Arbitration Court of St. Petersburg and the Leningrad region has declared LLC Troya Import insolvent. The company, once one of the city’s largest importers of bananas and other fruits with multi-billion-ruble revenues, has been placed under bankruptcy proceedings. The court-appointed administrator, Andrey Enkov, must submit a…
In a boost to corporate resolutions under the Insolvency and Bankruptcy Code (IBC), the Supreme Court on Friday (September 26) approved Sajjan Jindal-led JSW Steel’s $2.3 billion acquisition of Bhushan Power and Steel (BPSL), reversing its earlier rejection of the deal. The court also dismissed creditors’ demand for an additional ₹6,100 crore, clearing the way…
Mohammed Rashidzadeh obtained a £50,000 Bounce Back Loan for his business but almost immediately transferred the money from his company account to buy a house in Huddersfield Rashidzadeh applied to close down Cozy Bed Ltd through Companies House within eight days of receiving the funds, while deliberately failing to notify the bank that lent him…
Liquidation of debt-ridden firm last option under Insolvency and Bankruptcy Code: SC Press Trust of India Read the original article here
Vedanta’s ESL Unit ‘Bleeding Cash, Heading Back to Insolvency’: Viceroy Research Warns Moneylife Read the original article here
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Just over a year ago, Moxion Power closed its doors, adding its name to a list of high-profile bankruptcies that roiled the climate tech world in 2024. The portable battery startup had raised more than $110 million in a bid to replace diesel generators at festivals and construction sites, but even that wasn’t enough to…
The Supreme Court clarified the effect of annulment of insolvency proceedings on transactions carried out during the insolvency period. The case arose from a long-standing dispute over the shareholding in a partnership firm, M/s Gavisiddheshwara & Co., originally formed in 1963. After the death of one of the partners in 1975, his son (the appellant)…
United Insurance Company Limited is finally set to go into liquidation following the appointment of the official liquidator of the company’s property. In an insolvency notice issued by Kamal Anantroy Bhatt through Anant Bhatt LLP on September 25, 2025, the liquidator officially announced the convening of a creditors’ meeting as part of the legal process…
The Supreme Court of India today reversed its recent decision quashing JSW Steel’s resolution plan for Bhushan Steel and Power Limited (BSPL). Last month, the court had reserved its verdict on the review petitions after days of sharp exchanges between Senior lawyers over the fate of nearly Rs. 6,000 crore in earnings before interest, taxes,…