Home Business ‘All this was created by only one mistake’: BYJU’s CEO Byju Raveendran opens up on collapse from $22 billion to near insolvency BYJU’s was once a high-valued edtech firm. New Delhi: The founder of the beleaguered edtech company BYJU’S Byju Raveendran has opened up about the circumstances that led to fall of his…
U.S. healthcare organizations are filing for bankruptcy at record rates as they increasingly rely on risky debt, leading to increases in staff turnover and harm to patients—particularly elderly ones living in nursing homes. A new study by Stanford heath economist Adrienne Sabety indicates the residents of those bankrupt long-term care facilities are more likely to be…
The National Company Law Tribunal (NCLT) on Friday issued a notice to Gensol Engineering, directing it to file a reply over the insolvency plea by the Indian Renewable Energy Development Agency, and listed the matter on June 3 for hearing. Advertisement IREDA’s plea came for hearing before a two-member Ahmedabad-based Bench of the insolvency tribunal…
IREDA initiates insolvency proceedings against Gensol subsidiary Separately, IREDA initiated insolvency proceedings on Friday against Gensol EV Lease Limited, a subsidiary of Gensol Engineering, over loan default of Rs 218.95 crore, a regulatory filing made by the PSU to the stock exchanges said. This is in addition to the Rs 510-crore loan default, for which…
The National Company Law Tribunal (NCLT), Ahmedabad, on Friday issued a notice to Gensol Engineering, directing it to file a reply over the insolvency plea filed by public sector Indian Renewable Energy Development Agency (IREDA). IREDA plea came before a two-member bench of the NCLT which posted it for hearing on June 3. The bench…
Former owner of ‘utterly disgusting’ boarding house made bankrupt Stuff Read the original article here
Telecom operator Vodafone Idea Limited (short VIL, commonly called Vi)informed the Department of Telecommunications (DoT) that it will not be able to continue operations beyond FY26 without government support on adjusted gross revenue (AGR) dues. The company said that ongoing discussions with banks for funding would stall in the absence of timely assistance. In a…
Two days after state-owned renewable energy NBFC Ireda filed an insolvency plea against Gensol Engineering over ₹510 crore default, the company has filed another insolvency application against Gensol EV Lease Ltd, a Gensol Engineering subsidiary, for the default of ₹218.95 crore. “The company has filed an application under Section 7 of the Insolvency and Bankruptcy…
Gensol Engineering Limited borrowed Rs 977.75 crore from IREDA and Power Finance Corporation (PFC), of which Rs 663.89 crore was allocated for purchasing electric vehicles for BluSmart. However, the company acquired only 4,704 vehicles against the sanctioned commitment of 6,400 EVs when accepting the loan, leaving up to Rs 262.13 crore unaccounted for, according to an interim…
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