As Anil Ambanis RCom files for insolvency, DoT likely to take a hit – The Financial Express

RCom on Friday said that it has decided to file for insolvency as the proposed asset monetisation plan failed to make any progress. With Anil Ambanis Reliance Communications (RCom) filing for insolvency proceedings under the Insolvency and Bankruptcy Code (IBC), the Department of Telecommunication (DoT) is likely to take a hit over its claim of…

Personal bankruptcy on the rise in Caloundra, hinterland – Sunshine Coast Daily

PERSONAL insolvency in Caloundra was up 35 per cent last quarter with 27 people applying for bankruptcy. That is compared with 20 for the previous quarter, according to data released by the Australian Financial Security Authority. While individuals in Caloundra were hard hit, business-related insolvencies were down from 11 to four. Across the Sunshine Coast…

NCLT Rejects Insolvency Application Filed By Corporate Debtor Suppressing Liquidation Order With Rs 10 Lakh Costs – Live Law

In a seemingly unprecedented order, the National Company Law Tribunal, Mumbai bench rejected an application filed by a corporate debtor under Section 10 of the Insolvency and Bankruptcy Code(IBC) with Rs.10 lakhs costs, on finding that it was filed suppressing winding up order passed against it by the High Court. The suppression was detected almost…