Insolvency & Bankruptcy Code cannot override the Prevention of Money Laundering Act (PMLA), said appellate tribunal NCLAT, adding assets of an debt-ridden firm once attached by the Directorate of Enforcement (ED) and confirmed by competent authority cannot be released for its resolution. Under section 14 of IBC, a moratorium is applied on those assets for…
Borosil Renewables Limited has announced that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency under the German Insolvency Code (InsO) before the jurisdictional court at Cottbus. The decision follows a prolonged period of deteriorating market conditions in the European solar manufacturing ecosystem. and reflects the company’s intent to sharpen strategic focus on the…
Borosil Renewables Limited has announced that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency under the German Insolvency Code (InsO) before the jurisdictional court at Cottbus. The decision follows a prolonged period of deteriorating market conditions in the European solar manufacturing ecosystem. and reflects the company’s intent to sharpen strategic focus on the…
CHENNAI: Shares of Borosil Renewables Ltd., jumped 4.30% to Rs 518.50 a unit on Monday (July 7) at 10.56 AM, following the announcement that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency in a German court. The move follows months of operational challenges. GMB had cooled down its furnaces in January 2025…
The administrator of failed retailer Mosaic Brands has raised the possibility that the company was trading while insolvent as far back as five years ago. Mosaic, once one of the biggest ASX-listed clothing retailers, collapsed last year, with FTI Consulting appointed as administrators. The company operated clothing chains including Katies, Millers, Noni B and Rivers,…
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New Delhi: The National Company Law Appellate Tribunal (NCLAT) has ruled that the Insolvency and Bankruptcy Code (IBC) does not supersede the Prevention of Money Laundering Act (PMLA), stating that assets attached by the Enforcement Directorate (ED) and confirmed by the competent authority cannot be released for the purpose of insolvency resolution. The three-member bench…
South Korean crypto yield platform Haru Invest, implicated in a $1 billion fraud, has officially been declared bankrupt by the Seoul Rehabilitation Court, as per a local news report. Haru Invest, operated by Haru Management Limited, lured over 16,000 investors by guaranteeing principal safety and offering lucrative returns on crypto deposits. However, the scheme unraveled…
Former Putin challenger is declared bankrupt by Russian court Global Banking | Finance | Review Read the original article here
Quashing of insolvency order sought: NCLAT likely to decide on Ansal API homebuyers’ plea today Hindustan Times Read the original article here