Five Sugar Millers Among 26 Companies The Government Is Selling To Offset Debt – KahawaTungu (press release) (blog)

IMAGE/ COURTESY The government is set to sell its stake in 26 companies to private investors in a bid to fund the budget deficit, and repay debt. Among those to be sold include36 companies owned by the government were declared insolvent by the 2015-16 government audit report. The companies according to the audit report required…

NCLT to take up Essar Steel insolvency case on Nov 28 – The Hindu BusinessLine

The National Company Law Tribunal (NCLT) is set to hear all the caveats filed by the operational creditors and aggrieved parties together in the Essar Steel insolvency case starting November 28. Apart from the three separate cases already filed against the ArcelorMittal resolution approved by Committee of Creditors, some operational creditors are planning to move…

Suryachakra Power Corporation Ltd. – Corporate Insolvency Resolution Process (CIRP)-Appointment of Interim … – The Hindu BusinessLine

We wish to inform you that our lender State Bank of India, Kolkatta has filed a petition under Section of IBC 2016 to trigger a Corporate Insolvency Regulation Process (CIRP) against our company i.e. Suryachakra Power Corporation Limited (SPCL) in National Company Law Tribunal (NCLT) Hyderabad vide CP (IB) No: 421/7/HDB/2018 in July 2018 which…

Siemens says Sh45bn at stake in Kenya firm row – Business Daily (press release) (blog)

Companies Thursday, November 1, 2018 8:26 By GALGALLO FAYO Technicians relocate power transmission cables. FILE PHOTO | NMG Local operators of global technology firm Siemens AG, which is building 1,000km high voltage direct current lines between Ethiopia and Kenya, is seeking the courts protection to stop a firm that is threatening to file an insolvency…

AP Explains: The fund at the centre of a scandal in Malaysia – Ottawa Citizen

KUALA LUMPUR, Malaysia U.S. authorities have charged a fugitive Malaysian financier and two former Goldman Sachs bankers in a money laundering and bribery scheme that allegedly pilfered billions from Malaysian state investment fund 1MDB. The corruption scandal involving the fund had already upended politics in the country. Prime Minister Najib Razak, who set up the…

AP Explains: The fund at the center of a scandal in Malaysia – Washington Post

By Associated Press, KUALA LUMPUR, Malaysia U.S. authorities have charged a fugitive Malaysian financier and two former Goldman Sachs bankers in a money laundering and bribery scheme that allegedly pilfered billions from Malaysian state investment fund 1MDB. The corruption scandal involving the fund had already upended politics in the country. Prime Minister Najib…