The Supreme Court’s decision to liquidate Bhushan Power and Steel is likely to have an impact on the company’s lenders, led by State Bank of India (SBI) and Punjab National Bank (PNB), and the insolvency process. The SC order has cast a shadow on other bankruptcy cases as the total admitted claims under the Insolvency…
Wright received a £25,000 Covid loan to help him manage a pub that closed six months before the pandemic. Photo from May 2019. The pub is now under new management. – (Google Images) A bankrupt landlord has been handed a suspended sentence after he “took advantage” of a taxpayer-backed Covid loan scheme by applying for…
May 2, 2025 Photo: DutchNews.nl Dutch household goods retailer Blokker, which was declared bankrupt last year, is planning to reopen 30 to 40 shops in the Netherlands, sources have told business broadcaster RTL Z. Blokker was declared bankrupt almost six months ago. Four months later, businessman Roland Palmer bought the brand name in a bankruptcy…
At the time, the company owed over Rs 47,000 crore to financial creditors and more than Rs 780 crore to operational creditors. Its financial woes were further exacerbated by a high-profile investigation by the Enforcement Directorate (ED) into alleged loan diversion of Rs 4,025 crore by its former promoters. In October 2019, the ED provisionally…
New Delhi, May 2 (PTI) In a significant verdict, the Supreme Court on Friday set aside a resolution plan submitted by JSW Steel Limited for Bhushan Steel and Power Limited (BSPL), holding it illegal and in violation of the Insolvency and Bankruptcy Code (IBC). A bench comprising Justices Bela M Trivedi and Satish Chandra Sharma ordered…
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The National Law Company Tribunal (NCLT) in Bengaluru on Thursday once again deferred its order on a petition seeking the initiation of insolvency proceedings against hyperlocal delivery platform Dunzo, as per reports by Bar & Bench. This marks the third postponement by the Tribunal, despite the urgency outlined under India’s Insolvency and Bankruptcy Code (IBC).…
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails A bankrupt landlord has been handed a suspended sentence after he “took advantage” of a taxpayer-backed Covid loan scheme by…
Most creditors oppose restructuring, court to hear case in May British specialty steelmaker Liberty Specialty Steel UK may face bankruptcy proceedings after all Greensill’s creditors and more than three-quarters of other creditors voted against the company’s restructuring plan. This was reported by Argus.Media, citing sources in the company. The restructuring plan was considered at a…