Will Wonga collapse, when was the payday loan company founded and what are the compensation claims? – The Sun

WONGA is on the brink of collapse after being inundated with compensations claims. Here’s what we know about the situation the payday loan giant’s current predicament. PA:Press Association Wonga is allegedly preparing for administration Will Wonga collapse? The company was kept afloat three weeks ago thanks to a £10million emergency cash injection from shareholders. But…

Congress alleges PM Modi not allowing GSPC to be declared bankrupt – Times of India

NEW DELHI: Congress on Monday alleged that government-run Gujarat State Petroleum Corporation (GSPC) owed over Rs 12,000 crore in loans to various banks, and accused the Narendra Modi-led BJP government of trying to prevent the company from being declared bankrupt. Congress MP and spokesperson Jairam Ramesh alleged that a Rs 20,000 crore scam had been…

Power companies with Rs 1.7 crore stressed loans face insolvency proceedings – Times of India

MUMBAI/NEW DELHI: Private power companies defaulting on an estimated Rs 1.7 lakh crore loans to 34 projects ran out of time to avoid insolvency proceedings on Monday, with the Allahabad high court refusing to grant interim relief. The court’s decision leaves no other option for lenders but to initiate insolvency proceedings according to the Reserve…

China’s Sanan Optoelectronics in Talks to Buy Israeli Communication Chips Company ColorChip – Caixin Global

(CTech) China’s chip designer and manufacturer Sanan Optoelectronics Co. Ltd. is in talks to acquire Israel-headquartered communication chips company ColorChip Ltd., according to people familiar with the matter. The deal discussed values the latter at around $300 million, the people familiar with the matter said. Based in Xiamen City in China’s Fujian province, Shanghai-listed Sanan…