Bankrupt German airline Air Berlin says it’s preparing to end flights at the end of October. The dpa news agency reported Monday that in a letter to employees the airline, Germany’s second largest, said that flights under the airline code AB “according to the current state of things, will no longer be possible after October…
The National Company Law Tribunal (NCLT) will consider admitting an insolvency case against Reliance Communications (Rcom) filed by Tech Mahindra on 2nd of November. The IT company had filed an insolvency petition for a recovery of Rs 8.2 crore from the Anil Ambani owned telco and its two units, few days after Rcoms deal with…
By Njiraini Muchira In 2013, Nakumatt Holdings launched its in-store packaged goods under the Blue Label. Its management believed this was a milestone in its efforts to dominate the retail sector in the region. Managing director Atul Shah was categorical that customers would no longer be held to ransom by suppliers, as its products were…
LONDON (Reuters) – European shares rose on Monday, with Germanys DAX touching a record high and Spains IBEX its highest for a week, as political risk concerns over Catalonia eased a day after a demonstration in Barcelona against independence. Following four consecutive weeks of gains, the pan-European STOXX 600 rose 0.2 percent while the DAX…
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…
Two news stories with a partypoker flavour including Fedor Holz winning another poker tournament as well as appearing on one of the worlds top podcasts, and is Boris Becker deep in debt, or does he have a plan? Fedor Holz has added another hit to his jukebox of poker memories. The German star defeated 50…
New Delhi: Lenders to Jaypee Infratech the Jaypee Group firm whose cash crunch is holding up completion of nearly 32,000 flats in Noida are in disagreement with the way the company’s lead bank IDBI and its chairman Manoj Gaur have handled “certain affairs”. Several bankers to the company TOI spoke to pointed out that IDBI…
The case was listed for hearing last week and will be heard again on November 16, according to the Mumbai NCLTs cause list. Aditya Birla group company UltraTech Cement has filed an insolvency petition against HCCs Lavasa Corporation at the Mumbai bench of the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code…
The 49-year-old former tennis ace was previously declared bankrupt in June and is rumoured to be £54 million in debt, a figure which his lawyers have stated they “vehemently deny”. Now, The Sun states that Boris will accept a staggering £500,000 pay check to go into the jungle for this year’s I’m A Celebrity… Get…
NEW DELHI: The government is open to amending the Insolvency and Bankruptcy Code (IBC) to resolve practical difficulties and redress grievances, union minister P P Chaudhary has said, amid owners of many undelivered flats looking to seek relief under this law. Assuring that the challenges thrown up by some cases would get resolved, the minister…