Glass manufacturer Hindustan National Glass & Industries Ltd (HNGIL) has warned B9 Beverages, the company behind Bira91, that it could face insolvency proceedings if outstanding payments of about Rs 11 crore are not cleared. In a letter dated June 4 and addressed to investors in B9 Beverages reviewed by MoneyControl, HNGIL said it remained open…
On 1 June 2026, the Insolvency and Bankruptcy Board of India notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2026 to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The provisions came into force on 2 June 2026.…
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Germany’s industrial base undergoes sweeping restructurings from steel to auto, with layoffs, insolvencies, and union protests; some firms achieve turnarounds amid challenges. Worker representatives are sounding alarms across Germany’s industrial heartland as a wave of restructurings, insolvencies, and strategic exits reshapes the country’s manufacturing landscape from steel mills to auto factories. The most stark warning…
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Dutch regional aircraft developer Maeve Aerospace and its parent company, Green Transition Alliance, were declared bankrupt by a court in The Hague on May 28, marking a significant setback for the sustainable aviation sector. The insolvency follows a failed funding round in which the startup sought to raise €20 million (US$23 million) to finance the next…
In a recent decision, the New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that assessment proceedings cannot be initiated during operation of moratorium by order of the National Company Law Appellate Tribunal (NCLT). The reassessment proceedings were initiated against the assessee and notice under Section 148 of the Income Tax Act, 1961…
One of Belgium’s longest-established logistics groups has collapsed, with its operations carved up between two Belgian rivals after a bankruptcy filing that puts hundreds of jobs at risk. Ziegler Belgium was declared bankrupt at the Brussels Commercial Court on Monday 1 June, ending more than a century of independent operation. Most of its activities have…
Financier to be banned until June 2035 Lex Greensill was a director of three companies within the Greensill Group, which collapsed in 2021 with combined liabilities of more than £1.6 billion In late 2020, he caused the companies to enter into a series of transactions with US construction company Katerra that removed legal protections from…