In May 2023, NCLT Mumbai dismissed IDBI Bank’s insolvency petition against ZEEL, ruling that the alleged default fell within the protected period under Section 10A IBC). The tribunal held that IDBI Bank’s claim of ₹149.60 crore was unsustainable as ZEEL’s liability under the guarantee agreement was strictly limited to maintaining two quarters’ interest on the…
In a keenly contested corporate battle, as many as 26 companies, including Gautam Adani’s Adani Enterprises, Anil Agarwal’s Vedanta, and Baba Ramdev’s Patanjali Ayurveda, have shown expressions of interest (EoIs) to buy the embattled Jaiprakash Associates Ltd (JAL), whose debt piled up during its heyday under the Jaypee Group. The company, the flagship of…
Number of people in Ashfield declared financially insolvent rose in the last year Mansfield and Ashfield Chad Read the original article here
Another day has come to an end, and GPblog, as always, has more news from the F1 world to share! Christian Horner admits that he was frustrated with the Brazilian Grand Prix race director Niels Wittich after an ‘unsafe’ call, a key Mercedes supplier files for bankruptcy and Guenther Steiner tells a GPblog a story…
Formerly bankrupt retail healthcare chain may go bankrupt again TheStreet Read the original article here
A judge overseeing Redbox owner Chicken Soup for the Soul Entertainment’s bankruptcy case granted a request Wednesday to convert it from Chapter 11 to Chapter 7 bankruptcy, according to Lowpass’ Janko Roettgers and The Wall Street Journal. The company’s lawyers said Chicken Soup for the Soul Entertainment will lay off its remaining 1,000 employees and…
Lithuanian fintech firm Kevin, which previously raised over $65 million from major investors like Accel and Eurazeo, has been declared insolvent by the Vilnius District Court, with IS Group designated as the insolvency manager, Sifted reports. According to Lina Nemeikaitė, assistant to the chairman of the Vilnius District Court, the court determined that…
Former Putin challenger is declared bankrupt by Russian court | 1450 AM 99.7 FM WHTC | Holland Close For the health and safety of everyone, our…
Northvolt, the Swedish electric vehicle battery startup, has filed for bankruptcy in Sweden, marking the end of a company once seen as Europe’s best hope of challenging the dominant Asian battery industry. The company said in a statement it had been unable to “secure the necessary financial conditions to continue in its current form” in…
New Delhi: Billionaire Gautam Adani’s group and FMCG major Patanjali Ayurveda are among 26 companies that have shown interest in acquiring debt-laden Jaiprakash Associates Limited (JAL), which is currently undergoing insolvency proceedings. Jaiprakash Associates, a key player in sectors like real estate, cement manufacturing, hospitality, and engineering & construction, was admitted into the Corporate Insolvency…