A breakdown of the business landscape across Australia has revealed record-high insolvencies, with things expected to get worse as we enter 2025. CreditorWatch released its November Business Risk Index, with data showing insolvencies are at “record highs in number,” up 57 per cent since November 2023. Further, the average business failure and closure rate across…
NCLAT stays insolvency proceedings against Reliance Infrastructure Deccan Herald Read the original article here
A London-based artificial intelligence company valued at $1.5 billion has filed for bankruptcy after it was revealed that its much-touted ‘neural network’ was actually a workforce of more than 700 engineers based in India. Builder.ai, backed by a reported $455 million investment from Microsoft, had claimed that its AI app-building service, ‘Natasha’, could design and…
The principle of separateness is no minor technicality. It lies at the heart of company law. The landmark 1896 ruling by the British House of Lords, in Salomon vs Salomon & Co, established that once incorporated, a company acquires its own legal identity, distinct from its shareholders, directors, or affiliates. This was more than a…
After the collapse of crypto exchange FTX, Singapore’s state-owned investment firm Temasek has significantly scaled back its involvement in early-stage startups, cutting investments by 88% over three years, as per a report. Conservative Approach Replaces High-Risk Betting Temasek, which is one of the world’s biggest investors, has changed its strategy to focus more on conservative…
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In a relief to Reliance Infrastructure, the National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed insolvency proceedings against the company that were initiated by IDBI Trusteeship Services Ltd over an alleged default of ₹88 crore. The NCLAT bench, comprising Justice Yogesh Khanna (Judicial Member) and Indevar Pandey (Technical Member), paused the order of the…
In a big relief to Reliance Infrastructure, appellate tribunal NCLAT on Wednesday stayed the insolvency proceedings against the company. Reliance Infrastructure in a regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) suspended the order passed by the NCLT over an appeal filed by it. “In the appeal filed, the NCLAT, today has…
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Reliance Infrastructure said that there is no impact or bearing of the NCLT order on Reliance Infrastructure or any of its subsidiaries. Reliance Infrastructure said on Wednesday that the National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against the company. “We wish to inform that in the appeal filed, the NCLAT, New…