Home Business IDBI Bank’s insolvency appeal against ZEEL dismissed by NCLAT The bench clarified, however, that IDBI Bank retains the liberty to file a fresh insolvency petition for defaults occurring outside the Section 10A protection window. The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by IDBI Bank challenging the National Company…
Insolvency Service investigation leads to High Court closure of fraudulent timeshare claims firm Timeshare claims Timeshare sales operations have earned an appalling reputation for customer manipulation, high pressure sales, criminal activity and disregard for consumer laws over the last two and a half decades. Spanish timeshare companies. Operated illegally Suing these companies in Spain proved…
In May 2023, NCLT Mumbai dismissed IDBI Bank’s insolvency petition against ZEEL, ruling that the alleged default fell within the protected period under Section 10A IBC). The tribunal held that IDBI Bank’s claim of ₹149.60 crore was unsustainable as ZEEL’s liability under the guarantee agreement was strictly limited to maintaining two quarters’ interest on the…
In a keenly contested corporate battle, as many as 26 companies, including Gautam Adani’s Adani Enterprises, Anil Agarwal’s Vedanta, and Baba Ramdev’s Patanjali Ayurveda, have shown expressions of interest (EoIs) to buy the embattled Jaiprakash Associates Ltd (JAL), whose debt piled up during its heyday under the Jaypee Group. The company, the flagship of…
Number of people in Ashfield declared financially insolvent rose in the last year Mansfield and Ashfield Chad Read the original article here
Another day has come to an end, and GPblog, as always, has more news from the F1 world to share! Christian Horner admits that he was frustrated with the Brazilian Grand Prix race director Niels Wittich after an ‘unsafe’ call, a key Mercedes supplier files for bankruptcy and Guenther Steiner tells a GPblog a story…
Formerly bankrupt retail healthcare chain may go bankrupt again TheStreet Read the original article here
A judge overseeing Redbox owner Chicken Soup for the Soul Entertainment’s bankruptcy case granted a request Wednesday to convert it from Chapter 11 to Chapter 7 bankruptcy, according to Lowpass’ Janko Roettgers and The Wall Street Journal. The company’s lawyers said Chicken Soup for the Soul Entertainment will lay off its remaining 1,000 employees and…
Lithuanian fintech firm Kevin, which previously raised over $65 million from major investors like Accel and Eurazeo, has been declared insolvent by the Vilnius District Court, with IS Group designated as the insolvency manager, Sifted reports. According to Lina Nemeikaitė, assistant to the chairman of the Vilnius District Court, the court determined that…
Former Putin challenger is declared bankrupt by Russian court | 1450 AM 99.7 FM WHTC | Holland Close For the health and safety of everyone, our…