In a recent ruling, the Orissa High Court observed that directors of a company cannot escape criminal liability for cheque dishonour merely because the company has been declared insolvent. Syed Najam Ahmed, the petitioner and Managing Director of Zenith Mining Private Limited, filed a petition before the High Court challenging the order of the JMFC…
Nagpur: Clarifying the interplay between insolvency and criminal liability, the Nagpur bench of Bombay high court recently ruled that insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) do not exempt company directors or signatories from prosecution under Section 138 of the Negotiable Instruments Act (NI Act) in case of cheque dishonour.Justice MM Nerlikar, allowing…
Insolvency firm highlights new path for small businesses to address financial woes Kalgoorlie Miner Read the original article here
Insolvency rate steady despite September surge dailybusinessgroup.co.uk Read the original article here
Council leaders have written to Chancellor Rachel Reeves demanding the right to impose higher council tax increases and new charges such as local tourism taxes, to avoid “system-wide financial failure”. Authorities are currently unable to raise council tax by more than 5% without holding a referendum of local voters, effectively making bigger increases impossible. But…
The construction sector continued to account for one in six company insolvencies in England and Wales over the last 12 months despite a month-on-month fall in August. According to the latest rolling annual Insolvency Service (IS) data, 23,141 insolvencies were recorded in the 12 months to August 2025, including 3,934 in construction. The sector’s share…
Simbhaoli Sugars Schedules IRP Meeting to Review Q1 FY2026 Results scanx.trade Read the original article here
Restructuring experts urge Reeves to avoid hiking corporate costs further By THIS IS MONEY Updated: 22:33 AEDT, 17 October 2025 The Chancellor must avoid piling further pressure on British businesses at her upcoming Budget after another 2,000 firms went bust last month, restructuring experts have warned. A sharp rise in labour costs, stubbornly high inflation…
Company insolvencies in Scotland saw a sharp increase in September 2025, rising 41% compared to the same month last year. Official figures show 103 companies became insolvent. This total was comprised of 50 creditors’ voluntary liquidations (CVLs), 48 compulsory liquidations, and five administrations. Despite the monthly surge, the overall insolvency rate for the year to…
Personal insolvencies jumped by 7% annually in September London Evening Standard Read the original article here