Written by George Mathew | Mumbai | Published: December 14, 2017 1:30 am RBI had told banks to either resolve 28 stressed accounts by Dec 13 or refer them to NCLT by Dec 31. Bankers have set in motion the process of referring most of the 28 defaulters identified by the Reserve Bank of India…
Austrian airline Niki said Wednesday that it would stop flying from Thursday after German giant Lufthansa gave up plans to buy it from bankrupt Air Berlin in the face of EU competition concerns. Niki said earlier that it had applied to open insolvency proceedings following Lufthansa’s announcement that it had “informed Air Berlin and its…
Berlin (AFP) – Austrian airline Niki said Wednesday that it would stop flying from Thursday after German giant Lufthansa gave up plans to buy it from bankrupt Air Berlin in the face of EU competition concerns. Austria’s Niki in trouble as Lufthansa drops bid Niki said earlier that it had applied to open insolvency proceedings…
13 December 2017 | 12:50 | FOCUS News Agency Source: Focus Information Agency Sofia. Dishonest employers will no longer be able to transfer their business to a third person who is unable to develop it. The proposed amendment to the Labour Code was unanimously supported by 111 votes, FOCUS News Agency reports. The adopted text…
Maurizio Zamparini assures Palermo wont go bankrupt – everyone can think what they want, but Ive never stolen a Euro. Bankruptcy proceedings have been opened against the Sicilian club, with allegations that theres a 70m hole in their accounts. The website Il Sole 24 Ore reported last month that the problem arose from repeatedly selling…
ETMarkets.com| Updated: Dec 13, 2017, 11.24 AM IST Company’s consolidated losses as of March amounted to Rs 2,132 crore on total revenue of Rs 1,375 crore. NEW DELHI: Shares of Monnet Ispat and Energy climbed nearly 4 per cent in morning deals on Wednesday after reports that a consortium of Aion Capital Partners and JSW…
To have one of Australia’s most successful businessman of all time sell out may be regarded as felicitous, but to have two of them do it at the same time makes it look like something bigger is going on. If the global economy is being rearranged by changes in technology to such an extent that…
In order to help smaller companies the government is reviewing the insolvency provisions, including recent amendments barring defaulting promoters from bidding for their own assets undergoing insolvency. The committee, formed in November and chaired by the secretary, ministry of corporate affairs, and includes members involved in the drafting of the IBC, has already met to…
MUMBAI: The wait for framing final regulations to punish high profile individuals, including promoters, who have given personal guarantees for corporate loan defaulters may soon be over as the regulator is set to make a call on the matter next week. The governing body of Insolvency and Bankruptcy Board of India (IBBI) is expected to…
PETALING JAYA: They lived the fast life, a life of Pradas and Guccis. When the cash is out, they max out on their credit cards. Some even go as far as taking up personal loans to finance overseas trips, buying the latest expensive gadgets and holding lavish weddings. And before they even turn 30, they…