Navigating business debt & insolvency – echo.net.au
Navigating business debt & insolvency echo.net.au Read the original article here
Reliance Infrastructure Limited NCLT Admits Canara Bank’s Insolvency Petition Against HK Toll Road
Reliance Infrastructure Limited has announced that the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, has admitted a petition filed by Canara Bank Limited. The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against HK Toll Road Private Limited, a wholly owned subsidiary of Reliance Infrastructure. The admitted claim amount is INR 282.60 crore.…
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Congress MLC Naseer Ahmed faces disqualification from being a legislator as NCLT declares him ‘bankrupt’
The National Company Law Tribunal (NCLT), Bengaluru Bench, has declared Naseer Ahmed, Member of the Karnataka Legislative Council from the Congress, as “bankrupt” under the Insolvency and Bankruptcy Code (IBC) for failing to repay ₹1,454 crore outstanding loan amount of his erstwhile company M/s Scotts Garments Limited, Bengaluru, now liquidated. The declaration of Mr. Naseer…
NCLT admits insolvency pleas against Anil Ambani and RInfra arm over ₹1,480 crore dues
The statement said the order will be reviewed and challenged before appropriate legal forums | Photo Credit: greenleaf123 The National Company Law Tribunal (NCLT) has admitted two significant insolvency petitions filed by public sector lenders — State Bank of India and Canara Bank, marking a fresh escalation in legal and financial challenges involving entities linked…
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Court Clears Sale of 750+ John Scotti Vehicles Following Insolvency Proceedings – Motor Illustrated
Court Clears Sale of 750+ John Scotti Vehicles Following Insolvency Proceedings Motor Illustrated Read the original article here
Ardmore parent seeks moratorium as group firms face administration
Ardmore Group Ltd has applied for a company moratorium after two group firms filed notices to appoint administrators. Court records show an application for a moratorium was filed for Ardmore Group Ltd earlier today (11 June). Separate filings made the previous day show applications for notices to appoint administrators for Ardmore Major Projects Ltd and…
Jailed Vancouver developer declared bankrupt after ‘history of financial shenanigans’
It’s been a rough few weeks for Helen Chan Sun. Last month, one B.C. Supreme Court judge jailed the Vancouver developer for civil contempt. This week, even as Sun remained behind bars, another judge from the same court declared the former multimillionaire bankrupt, paving the way for a trustee to oversee her finances. “The debtor…
NCLT admits SBI plea for personal insolvency proceedings against Anil Ambani
The Mumbai bench of the National Company Law Tribunal (NCLT) on Thursday admitted State Bank of India’s plea to initiate a personal insolvency resolution process against Anil Ambani.The state-owned lender had moved the tribunal in 2020 to recover over Rs 1,200 crore from Anil Ambani under the personal guarantee clause of the bankruptcy law. The…