The Reserve Bank of India on Monday knocked on the doors of the Supreme Court (SC) with a plea to start insolvency proceedings against infrastructure major Jaiprakash Associates Ltd (JAL). The firm has been embroiled in a Rs 29,000 crore debt case. According to a report in Moneycontrol.com, more than 25,000 people who had bought homes constructed…
Textile company E. Miroglio to start production in Serbia’s Pirot in 2018 – VIDEO Edoardo Miroglio headquarters in Sliven, Bulgaria; Source: Edoardo Miroglio BELGRADE (Serbia), January 8 (SeeNews) – Bulgarian-based textile company Edoardo Miroglio plans to start production in Pirot, in eastern Serbia, in 2018, the mayor of Pirot said. Edoardo Miroglio is expected to start production…
Omega Sibanda Petros Kausiyo and Eddie ChikamhiZIFA are confident they will stage smooth elections this year, with the soccer mother body insisting yesterday that they would be guided by their constitution as they take steps to hold the polls. The association will outline the elections roadmap after their annual meeting slated for February 17 in Harare…
Omega Sibanda Eddie Chikamhi, Harare BureauAFTER weeks of incessant attacks during which their authority appeared to be challenged, Zifa have directed that all the associations members should fulfil their statutory obligations by registering their constitutions with the association to avoid any clashes. Zifa vice-president Omega Sibanda yesterday told the media in Harare that it was…
Kardan NV (TASE: KRNV;AEX:KARD) is close to an agreement for the sale of its 98.4% holding in water infrastructures company Tahal Group to the Fortissimo Capital fund for $120-130 million (NIS 412-446 million). According to market sources, the deal can be expected to be signed within the next few days, subject to agreement on the…
Kardan NV (TASE: KRNV;AEX:KARD) is close to an agreement for the sale of its 98.4% holding in water infrastructures company Tahal Group to the Fortissimo Capital fund for $120-130 million (NIS 412-446 million). According to market sources, the deal can be expected to be signed within the next few days, subject to agreement on the…
Video PlayerClose GUANGZHOU, Jan. 8 (Xinhua) — Ninety-four “zombie companies” in Guangzhou, capital of south China’s Guangdong Province, were declared bankrupt, the city’s Intermediate People’s Court said Monday. Most of them, including 74 state-owned enterprises, were established in the 1980s and 1990s. These enterprises, making great losses for years, have ceased or suspended production, and…
Explosive new documentary reveals the lavish lifestyle of bankrupt businessmen Barry Hughes declared bankruptcy owing £10m but owns luxury fleet of cars BBC filmed Graham Gillespie, who has £12m debts, driving a brand new Bentley By Amie Gordon For Mailonline Published: 23:43 AEDT, 8 January 2018 | Updated: 23:48 AEDT, 8 January 2018 e-mail 2…
NEW DELHI: Companies which have defaulted on payment of dues to banks will require their approval for managerial remuneration beyond a certain threshold, according to the government. The approval will also be needed in case of defaults to public financial institution, non-convertible debenture (NCD) holders and other secured creditors. The provision is part of the…
Former millionaires who have declared bankruptcy are still enjoying lavish lifestyles as they exploit the system to keep their cash, it was claimed. Crooks and businessmen who say they have little or no assets have been seen driving luxury cars, seemingly untouched by insolvency, a BBC programme alleges. Convicted fraudster Barry Hughes, an ex-boxing promoter,…