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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MediPharm is Dangerously Low On Cash and is On Track to Run Out of Money by November Unless Wholesale Change Occurs MediPharm Lost Over $3.3 Million in Q1 2025 While Management Offered No Clear Plan to Achieve Profitability or Commitment to Reduce Waste or Excessive Spending Apollo Capital Warns Shareholders Not to Be Misled by…
Last Updated:May 16, 2025, 17:14 IST Vodafone Idea has said it may be compelled to approach the National Company Law Tribunal (NCLT) for insolvency proceedings if additional help is not extended, says a report. Vodafone Idea also flagged the potential risk to the government’s 49% equity stake in the company. (Reuters File Image) Struggling telecom…
About 30 Russian airlines, accounting for 26% of domestic passenger traffic, may go bankrupt in 2025, Russia’s Izvestia newspaper reported on Nov. 13. Since the full-scale invasion began, most Russian airlines have come under Western sanctions. As a result, in 2022, several industry players stopped making lease payments. Russian airlines fear a deterioration in their…
The National Company Law Tribunal (NCLT) has issued a notice to Gensol Engineering following the insolvency plea filed against it by the Indian Renewable Energy Development Agency (Ireda), a report said. A bench of NCLT judicial member Shammi Khan and technical member Sanjeev Kumar Sharma instructed notice to be served to Gensol on all modes…
The Court of Appeal has ordered Hong Leong Bank to pay RM1,270,262.15 to Ten Jing Enterprise Sdn Bhd, together with interest and costs, after finding the bank guilty of negligence in the release of company funds. PUTRAJAYA: The Court of Appeal has affirmed that Hong Leong Bank was negligent in breaching a seizure order under…