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Naveen Jindal-promoted Jindal Steel and Power Ltd (JSPL) is looking at a recovery after paying back more than Rs 10,000 crore in interest and Rs 6,000 crore in principal to its lenders since 2014. This is at a time when steel firms, barring three majors, are in a troubled phase. Since…
Some of the federal government’s biggest spending departments could require contractors to pay their supply chain businesses within 30 days, as part of a campaign by Small Business Ombudsman Kate Carnell. As the government considers the former ACT Liberal leader’s inquiry into payment times and contract practices in the Australian economy, Ms Carnell has written…
The Independent Electoral and Boundaries Commission (IEBC) has gazetted five additional names of Presidential candidates to take part in the October 26th repeat election. IEBC Chairperson Wafula Chebukati has added Thirdway Alliance’s Dr Ekuru Aukot, Tunza Alliance’s Abduba Dida and Independent candidates Joseph Nyagah, Michael Wainaina and Japheth Kavinga. The five will join President Uhuru…
An air hostess has been declared bankrupt after she refused to pay over 200 parking fines as part of a “personal crusade”. Carly Mackie, 28, from Dundee, received the parking fines for persistently leaving her Mini in a residents-only area outside her parents’ flat. Mackie ignored the tickets, insisting they were illegal and unenforceable in…
The brother of former Everton and Manchester United manager David Moyes has been banned from becoming a company director, report the Daily Record. Agent , 49, was disqualified for five years after investigators found he withdrew cash from his football tours company to avoid paying tax. The ban follows an Insolvency Service probe into Glasgow…
By BENSON WAMBUGUMore by this Author Under the laws of Kenya, bankruptcy is the declaration made against a person by a court after it is found that the individual is unable to meet his or her financial liabilities. Kenyan Bankruptcy laws are governed by the Bankruptcy Act Cap 53. Confusion arises between insolvency and bankruptcy.…
HYDERABAD: The National Company Law Tribunal (NCLT), in a rare move, decided to reject the insolvency petition filed by a corporate in the ‘interest of the nation’ despite the company and lenders pleading liquidation while claiming to have explored available options. Rejecting the petition filed by Anrak Aluminium, a joint venture between India’s Penna Cement…
The Independent Electoral and Boundaries Commission (IEBC) has gazetted five additional names of Presidential candidates to take part in the October 26th repeat election. IEBC Chairperson Wafula Chebukati has added Thirdway Alliance’s Dr Ekuru Aukot, Tunza Alliance’s Abduba Dida and Independent candidates Joseph Nyagah, Michael Wainaina and Japheth Kavinga. The five will join President Uhuru…
NEW DELHI: Ultra Homes -an Amrapali Group company -has gone in for insolvency resolution.Bank of Baroda, one of the lenders to the commercial project in Greater Noida, had moved the National Company Law Tribunal to recover its dues. The principal bench of NCLT, Delhi, issued the order on the lender’s plea. The tribunal appointed Sanjay…