Companies can look at voluntary insolvency process to increase productivity, maximise value: IBBI chief – MSN
Companies can look at voluntary insolvency process to increase productivity, maximise value: IBBI chief MSN Read the original article here
Indian companies yet to fully leverage IBC for Productivity, Value maximisation: IBBI Chief
Indian companies have yet to fully utilize the Insolvency and Bankruptcy Code (IBC) as a tool to enhance productivity and achieve value maximisation, Ravi Mital, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI), has said. Addressing a Global Summit on “Accelerated Value Creation for Sustainable Growth”, jointly organised by ASSOCHAM and CPA Australia,…
RBI files for insolvency proceedings against Aviom Housing
Mumbai: The Reserve Bank of India (RBI) on Thursday announced that it has filed an application for the initiation of a corporate insolvency resolution process (CIRP) against Aviom Housing Finance Pvt Ltd under the Insolvency and Bankruptcy Code (IBC) at the New Delhi Bench of the National Company Law Tribunal (NCLT). In a separate statement,…
NCLAT set aside penalty on lenders for delay in Mudra Denim insolvency process, ET Retail
The National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed against lenders of debt-ridden Mudra Denim, saying there was no laxity on their part for delay in insolvency process. The Mumbai bench of the National Company Law Tribunal had, on November 11 last year, while deciding creditors’ plea seeking extension of deadline…
RBI files application for insolvency proceedings against Aviom India Housing Finance
The Reserve Bank on Thursday said it has filed an application with the National Company Law Tribunal, New Delhi bench, for initiation of corporate insolvency resolution process against Aviom India Housing Finance Private Limited. On Monday, the RBI superseded the board of Aviom India Housing Finance owing to governance concerns and defaults in meeting various…
IBBI Chief: Cos Should Use Voluntary Insolvency for Productivity: Rediff Moneynews
IBBI chief Ravi Mital calls on Indian companies to embrace voluntary insolvency to boost productivity and maximize value, citing the success of such processes in developed countries. Learn more about the IBC and its potential benefits. New Delhi, Jan 30 (PTI) IBBI chief Ravi Mital on Thursday said companies in India have not learnt how…
Insolvency litigation specialist hails ‘strong pipeline’
An insolvency litigation funding service launched by Liverpool law firm Provenio Litigation a year ago is now backing claims worth more than £10m. Tony McDonough reports Mark Goodwin, founder of Provenio Litigation in Liverpool Liverpool law firm Provenio Litigation launched its insolvency litigation and financing optimise a year ago and the venture already has an…
Lancashire plasterer exaggerated turnover by more than £200,000 to secure maximum-value Covid loan
Jordan Allen fraudulently secured a £50,000 Covid Bounce Back Loan in 2020 – the most businesses were entitled to under the scheme – by overstating his turnover by more than £200,000 His plastering business should only have received around £5,000 if he had submitted an accurate application for the loan Allen, who was declared bankrupt…
Empires Go Bankrupt Suddenly, Then Gradually
Date 1/30/2025 2:03:03 AM (MENAFN– Asia Times) Subscribe now with a one-month trial for only $1, then enjoy the first year at an exclusive rate of just $99. Will DeepSeek deep-six the US economy? MENAFN30012025000159011032ID1109147053 … Read the original article here
RBI Files for Aviom India Housing Insolvency: Rediff Moneynews
The Reserve Bank of India has filed for insolvency proceedings against Aviom India Housing Finance after superseding its board due to governance concerns and payment defaults. Mumbai, Jan 30 (PTI) The Reserve Bank on Thursday said it has filed an application with the National Company Law Tribunal, New Delhi bench, for initiation of corporate insolvency…