Reliance Infrastructure Ltd.’s stock jumped 13% on Wednesday after the National Company Law Appellate Tribunal suspended an order passed by the National Company Law Tribunal that admitted the company into the insolvency resolution process. The Mumbai branch of the NCLT passed that order on May 30. The plea to admit Reliance Infra into insolvency was…
AI is in the news, and everyone wants to be part of the AI revolution. So much so that Builder.AI claimed to have an AI bot that could “create any software you want.” However, the Microsoft-backed firm has now collapsed once it was revealed there was no artificial intelligence whatsoever. All the work was being…
Shares of Reliance Infrastructure surged sharply on Wednesday, June 4, climbing nearly 13 percent to touch a new 52-week high of ₹385.90 in intra-day trading. The spike came after a significant legal relief from the National Company Law Appellate Tribunal (NCLAT), which suspended an earlier order passed by the National Company Law Tribunal (NCLT) that…
In a major relief to Reliance Infrastructure, the National Company Law Appellate Tribunal (NCLAT) on Wednesday suspended the National Company Law Tribunal’s (NCLT) order that had admitted the company into the Corporate Insolvency Resolution Process (CIRP). Shares of the Anil Ambani-owned company skyrocketed, trading at Rs 378.35 apiece on the BSE up 10.64 per cent…
Shares of Reliance Infra Ltd. surged as much as 10% on Wednesday, June 4, after the company informed the exchanges that the National Company Law Appellate Tribunal (NCLAT) has suspended the order passed by the National Company Law Tribunal (NCLT), that had admitted the company into the insolvency resolution process. The NCLT had passed that…
(Reuters) -Swiss solar panel maker Meyer Burger filed for insolvency for its German subsidiaries, the company said in a statement on Saturday. Meyer Burger’s German subsidiaries, Meyer Burger (Industries) GmbH and Meyer Burger (Germany) GmbH, have initiated insolvency proceedings, the company said. Efforts to keep the German sites open will be continued as part of…
The Madras High Court in its recent judgment has dismissed the writ petition holding that a challenge against order passed by Liquidator is appealable under the Insolvency and Bankruptcy Code, 2016. The petitioners filed the writ petition challenging the communication issued by the second respondent in response to their letter dated 22.12.2020, wherein it was…
Success is difficult to handle. Here’s the story of a man who was once the sixth richest man in the world. But several challenges led to his bankruptcy. Mukesh Ambani’s net worth Mukesh Ambani is currently the richest man in India. Currently his net worth is said to be 10,640 crores USD. However, here’s about…
“We cannot announce the contents of the decision until the parties have been informed,” Naples bankruptcy court president Vito Frallicciardi told reporters. But ANSA cited court sources saying they had ruled Napoli bankrupt and that officials had already been nominated to handle relations with creditors. Napoli were Italian champions in 1987 and 1990 when they…
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