Stock Market Today: Gensol Engineering share price slipped and hit lower circuit on Friday on news flow pertaining to NCLT admitting IREDA’s plea for insolvency in ₹510 crore default. Check details IREDA’s action against Gensol Engineering On the basis of a plea submitted by the state-run Indian Renewable Energy Development Agency Ltd or IREDA, which…
Insolvencies tipped to rise amid Tax Office crackdown The West Australian Read the original article here
The Ahmedabad bench of the National Company Law Tribunal, has admitted the insolvency plea filed by Indian Renewable Energy Development Agency’s (IREDA) insolvency plea against Gensol Engineering, on Friday, June 13. The NCLT has directed for initiation of insolvency proceedings against the company. The tribunal has also directed for the appointment of interim resolution professional…
A Management Consultant who secured two Covid Bounce Back Loans – totalling £80,000 – having twice significantly overstated his company’s turnover has been disqualified for 11 years. Romain McLean was the sole director of RMC Associates Limited, registered at Kingston Road in Wimbledon. He applied for a £30,000 Covid Bounce Back loan for his business…
Gensol Engineering insolvency: NCLT admits Ireda’s plea on ₹510 crore default Mint Read the original article here
On May 7, the Securities Appellate Tribunal (SAT) refused to stay SEBI’s interim order. The Appellate Tribunal directed Gensol to file its reply to the interim order passed by SEBI and further directed the markets regulator to pass a final order within four weeks of hearing Gensol. On May 28, NCLT ordered for freezing of bank…
The Ahmedabad bench of the National Company Law Tribunal on Friday admitted Gensol Engineering Ltd. into insolvency on a plea filed by the Indian Renewable Energy Development Agency Ltd. While the company has formally entered the corporate insolvency resolution process, an interim resolution professional is likely to be selected from the Insolvency and Bankruptcy Board…
(Bloomberg) — Bankrupt auto-parts supplier Marelli Holdings Co. won court approval to borrow $518.9 million to help fund its reorganization after delaying a request for some parts of a financing package questioned by a federal bankruptcy watchdog. The loan, which is being provided by Deutsche Bank and other senior Marelli lenders, will need to be…
Katie Price faces a wait to see whether more of her income will go directly towards paying off money owed under her two bankruptcies. The former glamour model was declared bankrupt in November 2019 and again in March last year, and the bankruptcies have since been discharged. However, Price, who did not attend the hearing…
Ozempic and other drugs like it have been threatening the established diet industry since they premiered — and it appears that Weight Watchers is now getting the hatchet. In a note to investors, the long-running weight loss company is taking the “strategic action” of filing for bankruptcy in hopes of consolidating its immense $1.15 billion…