The National Company Law Appellate Tribunal (NCLAT) has stayed insolvency proceedings against Reliance Infrastructure (R-Infra), offering the company major relief after it cleared the full outstanding amount of ₹92.68 crore owed to Dhursar Solar Power Pvt Ltd (DSPPL). The tribunal’s decision came in response to R-Infra’s appeal challenging the May 30 order by the National…
The National Company Law Appellate Tribunal (NCLAT) has stayed insolvency proceedings against Reliance Infrastructure (R-Infra), offering the company major relief after it cleared the full outstanding amount of ₹92.68 crore owed to Dhursar Solar Power Pvt Ltd (DSPPL). The tribunal’s decision came in response to R-Infra’s appeal challenging the May 30 order by the National…
New Delhi: 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. On May 30, the Mumbai bench…
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…