New Delhi, Mar 12 (PTI) Jaiprakash Associates Ltd, which is undergoing an insolvency process, on Wednesday said that a consortium of lenders has transferred their outstanding loans to National Asset Reconstruction Company Ltd (NARCL). Jaiprakash Associates Ltd (JAL) in a regulatory filing informed that the consortium of lenders of the company have “assigned/transferred their outstanding debt/financial…
ALOR SETAR, March 12 — The Malaysian Fire and Rescue Department has taken disciplinary action against 13 of its firefighters who have been declared bankrupt since 2020. Its director-general, Datuk Nor Hisham Mohammad said several factors led them to be declared bankrupt, mostly for becoming guarantors to loan borrowers. “There is also one (staff) whose…
The debt assignment marks a crucial step in addressing one of India’s longest-running corporate debt resolutions. JAL, classified as a non-performing asset since 2016, was admitted to insolvency proceedings last year. The Rs 12,000-crore transaction involves a State Bank of India-led consortium of 25 lenders, including major public and private sector banks and financial institutions.…
Hertfordshire based Rodells has been trading since 1898 when it was founded by Leonard Rodell as a steeple-jacking company. The company operates a large scaffolding operation from its yard in London Colney offering scaffolding services for large commercial and industrial jobs across the country. It also has a specialist access works division…
Battery maker Northvolt filed for bankruptcy on March 12th after months of financial struggle. How will employees be affected? What does it mean for Sweden? Here’s what we know so far. What has happened? Northvolt’s board voted on Tuesday to file for bankruptcy in Sweden, with the company then on Wednesday filing bankrupcty applications to…
French tech sector faces rising bankruptcies Communications Today Read the original article here
In addition to Northvolt AB, the subsidiaries Northvolt Ett AB, Northvolt Labs AB, Northvolt Revolt AB and Northvolt Systems AB also filed for bankruptcy in Sweden, the company announced. These are the operating company of the Swedish cell factory Northvolt Ett, the research centre, the recycling subsidiary and the company for the production of battery…
Byju’s US lender asks NCLAT to bar Aakash from amending articles of association Mint Read the original article here
A whistleblower has alleged that accounting firm Earns & Young (EY) had manipulated edtech firm BYJU’s CIRP process. However, the most alarming revelation by the whistleblower is how a legitimate settlement was deliberately derailed to keep Byju’s in insolvency. The whistleblower said that EY deliberately delayed BYJU’s CIRP process behind the scenes. EY did not…
Stockholm, Sweden, 12 March 2025 – Following an exhaustive effort to explore all available means to secure a viable financial and operational future for the company, the Board of Directors of Northvolt AB today announced that it has filed for bankruptcy in Sweden. Like many companies in the battery sector, Northvolt has experienced a series…