New Delhi: The Supreme Court on Thursday held that homebuyers’ societies or resident welfare associations (RWAs) ordinarily constituted for maintenance and management of common facilities in a housing project cannot intervene in the insolvency proceedings of the developer company. The judgment was delivered by a bench comprising justices JB Pardiwala and R Mahadevan. The bench…
These days, eating out has been more on the expensive side of things. As a result, customers are picking and choosing when to go to restaurants due to affordability. But that of course has an impact on the restaurant industry. In fact, there are several restaurant chains that are likely to go bankrupt or close…
Produce Buying Company (PBC) Limited The Produce Buying Company (PBC) Limited faces complete bankruptcy according to auditors who analyzed the state owned enterprise’s 2024 financial statements, marking a catastrophic deterioration from an already critical situation just one year earlier. Adom Boafo and Associates, the company’s independent auditors, issued a qualified opinion on financial statements for…
New Delhi, Jan 15 (PTI) The Supreme Court on Jan 15 ruled that homebuyers’ societies or Resident Welfare Associations (RWAs) ordinarily constituted for maintenance and management of common facilities in a housing project cannot intervene in the insolvency proceedings of the developer company. The Supreme Court on January 15 ruled that homebuyers’ societies or RWAs,…
“The Society is not a party to the financial transaction forming the substratum of the Section 7 application. Hence, no statutory right of appeal inheres in the appellant,” it said, adding that the NCLAT’s decision absence of locus standi rests on sound legal footing. “Permitting such intervention would undermine the expeditious and structured insolvency framework…
New Delhi, Jan 15 (PTI) The Supreme Court on Thursday ruled that homebuyers’ societies or Resident Welfare Associations (RWAs) ordinarily constituted for maintenance and management of common facilities in a housing project cannot intervene in the insolvency proceedings of the developer company. A bench of justices JB Pardiwala and R Mahdevan, which upheld the insolvency proceedings…
DUG Foodtech AB, formerly known as Veg of Lund, has entered bankruptcy following a ruling by the Lund District Court on 19 December 2025. The decision was made at the company’s own request after it failed to secure sufficient financing to sustain operations. Nasdaq Stockholm has since delisted the company’s shares from the Nasdaq First…
As OpenAI continues its meteoric rise — boasting billions in revenue from ChatGPT and API usage while dominating headlines — the company faces a stark financial reality that could threaten its very existence. In a new New York Times opinion piece this week, historian and financial expert Sebastian Mallaby warns that despite massive fundraising rounds…
Investigations into the company’s financial records have been delayed, though an update for creditors is expected in the next review period. Joint administrator Frank Wessely noted while investigations may not lead to financial recovery for creditors, they are necessary to fulfill statutory duties and explore any potential avenues for enhancing recoveries. “As advised in my…
UK Supreme Court rules on dishonest asset transfers during liquidation Taylor Wessing Read the original article here