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…
Vodafone Idea has said that it cannot operate beyond FY26 without the government’s support. This is as per a report by CNBC-TV18. The company reportedly said that if it does not get support from the government, it will go to the National Company Law Tribunal (NCLT) for insolvency. Vodafone – Ideas owes the government Rs…
Indian Renewable Energy Development Agency Ltd. filed an insolvency petition against Gensol Engineering Ltd. before the National Company Law Tribunal (NCLT), Ahmedabad. Following this, the NCLT issued notices to Gensol and scheduled the hearing for June 3. IREDA filed a petition against Gensol on May 14 under Section 7 of the Insolvency & Bankruptcy Code.…
Crisafulli settled $200,000 insolvent trading claim The Australian Read the original article here
A Bench of NCLT comprising Mahendra Khandelwal (Judicial Member) and Subrata Kumar Dash (Technical Member) heard the matter and directed FIITJEE to file its response. The case has been posted for further hearing on July 10, 2025. Agarwal, who held a senior position at FIITJEE, has approached the tribunal under Section 9 of the Insolvency…
Image from page 185 of “Thackerayana;” (1875) Posted By: The Corner 16th May 2025 According to the monitoring of insolvency proceedings published in the Official State Gazette (BOE) carried out by Iberinform, the business fabric registered a year-on-year decrease of -3.5% in business insolvencies in April. For the year as a whole, they accumulate an…
IREDA shares in focus after filing insolvency plea against Gensol Engineering over Rs 510 crore default MSN Read the original article here
Gensol Engineering has been in the spotlight since April, when SEBI barred the company’s promoters from the securities market for alleged fund diversions and corporate governance lapses. Photo: X/@GensolGroup State-run Indian Renewable Energy Development Agency Ltd. (IREDA) on Friday (May 16, 2025) moved an insolvency petition against Gensol Engineering Ltd before the National Company Law Tribunal…
New Delhi: The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Friday issued a notice on a ₹510 crore insolvency plea filed by the Indian Renewable Energy Development Agency Ltd (Ireda). The bench, comprising judicial member Shammi Khan and technical member Sanjeev Kumar Sharma, declined Ireda’s request to appoint an interim resolution professional…
According to disclosures available on the company’s website, Aviom India Housing Finance has admitted claims worth Rs 1,360 crore from financial creditors. The committee of creditors is being led by BlueOrchard, which has the largest exposure of funds to Aviom India Housing Finance. BlueOrchard is a Switzerland-based impact investor. Other large creditors to the company…