The Congress today claimed that public sector Gujarat State Petroleum Corporation (GSPC) owes Rs 12,000 crore in loans to various banks, and accused the Narendra Modi government of trying to prevent the company from being declared bankrupt. Senior Congress leader Jairam Ramesh claimed at a press conference that a Rs 20,000-crore scam has come to…
Citing a Reserve Bank of India (RBI) notification, senior Congress leader Jairam Ramesh on Monday said that the State Bank of India should declare Gujarat State Petroleum Corporation (GSPC) as bankrupt by 5 p.m. The Congress leader said, On February 12, 2018, RBI issued a circular stating any company that owes more than Rs 20,000…
CREDITORS have been left owed more than $3m following the latest Sunshine Coast building industry insolvency. The Cleary Group Pty Ltd’s ‘collapse’ rivals the 2013 Walton Queensland liquidation in terms of its impact on Sunshine Coast sub contractors who make up the majority of the 50-plus creditors left out of pocket. Terry John Rose of…
Israel-headquartered communication chip designer and manufacturer ColorChip Ltd. is in talks with a potential Chinese buyer, two people familiar with the matter told Calcalist on condition of anonymity. For daily updates, subscribe to our newsletter by clicking here. Founded in 2001 and headquartered in northern Israeli town…
One of the documents lawyers are often asked to prepare is a letter of demand. A letter of demand is usually issued in relation to an outstanding debt and will often warn of legal action unless the debt is paid by a date. However, the humble letter of demand can also sometimes give rise to…
One of the documents lawyers are often asked to prepare is a letter of demand. A letter of demand is usually issued in relation to an outstanding debt and will often warn of legal action unless the debt is paid by a date. However, the humble letter of demand can also sometimes give rise to…
PAYDAY loans giant Wonga is said to be on the brink of going under. The company was kept afloat three weeks ago thanks to a £10million emergency cash injection from shareholders. PA:Press Association Wonga is allegedly preparing for administration But sources say it merely encouraged a new wave of compensation claims for alleged unfair debt…
NATHAN Tinkler has always been very good at collecting enemies. The one-time billionaire’s volatility and reputation for not paying his debts has seen him fallout with countless friends and people hes worked with, even his own family. Amid the wreckage of his collapsed business empire is his only sibling Donna Dennis and former trusted lieutenant Troy Palmer, both…
Britains biggest payday lender, Wonga, is teetering on the brink of collapse following a surge of customer compensation claims in recent weeks that could cause it to call in administrators. The short term loan provider has reportedly lined up Grant Thornton the accountancy firm, to handle a potential administration of the company should its board…
Wonga, the UKs biggest payday lender, is considering insolvency following a surge in customer compensation claims in recent weeks. On Sunday, the company confirmed that it was assessing all options after a sharp rise in complaints from customers claiming they should not have been given loans. Placing the UK business into administration is understood to…