The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted Anil Ambani-promoted Reliance Infrastructure Ltd. under the corporate insolvency resolution process (CIRP) and has appointed Tehseen Fatima Khatri as the interim resolution professional (IRP). The development followed an application filed by IDBI Trusteeship Services Ltd on behalf of the operational creditors. The trustee…
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The National Company Law Tribunal (NCLT) on Tuesday issued notices to electric vehicle (EV) ride-hailing startup BluSmart Mobility Ltd and Gensol Engineering Ltd on three new insolvency petitions by financial creditors over alleged unpaid dues. Spectrum Trimpex Pvt. Ltd and Catalyst Trusteeship Ltd moved the tribunal under Section 7 of the Insolvency and Bankruptcy Code…
Representative Image The Insolvency appellate tribunal NCLAT has set aside the directions of the NCLT for a forensic audit of Golden Tobacco, and a change in the resolution professional of the debt-ridden cigarette maker. Passing an order over a batch of petitions filed against the NCLT order, the National Company Law Appellate Tribunal also extended…
“The company has made full payment of Rs 92.68 crore to Dhursar Solar Power, towards the claim of tariff as per the energy purchase agreement with the company. Accordingly, the company preferred an appeal before the Hon’ble NCLAT and will seek withdrawal of the order dated May 30, 2025, passed by NCLT Mumbai, for corporate…
On April 15, the Securities and Exchange Board of India barred Gensol Engineering promoters Anmol Singh Jaggi and Puneet Singh Jaggi from accessing the securities market. The markets regulator also prohibited them from holding any key managerial roles, following findings that funds had been diverted in a loan-financed electric vehicle purchase scheme. According to SEBI’s…
Dubai Civil Court of Appeal upheld the bankruptcy of a merchant and appointed an expert to liquidate his assets and settle his obligations to creditors. The decision came after all previous attempts to resolve his financial situation had been exhausted and he had ceased to pay his debts. The case dated back to May 2024,…
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Meyer Burger’s German subsidiaries file for insolvency pv magazine International Read the original article here