The National Company Law Tribunal (NCLT) has admitted fintech major Paytm’s insolvency plea against online gaming company Fabzen Technologies, which operates games such as Ludo Empire, Callbreak Empire and Skill Patti Empire, over unpaid digital advertising dues of over ₹3.41 Cr. Paytm parent One97 Communication has alleged that Fabzen failed to honour invoices for in-app…
#SHOWBIZ: Singer Zul of Handy Black shares past bankruptcy struggles, urges public to seek help | New Straits Times … Read the original article here
Online gaming company Fabzen Technologies Pvt Ltd, the operator of popular gaming platforms such as Ludo Empire, Callbreak Empire, and Skill Patti Empire, has suffered a major legal setback after the Mumbai Bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by One97 Communications Ltd, the parent company of Paytm. The…
A company which helped provide work experience placements for pupils has entered liquidation, leaving some students in limbo. Dom Education Limited of Watling Street, Gillingham, was contracted to provide work experience placements for some Year 10 students at Holcombe Grammar School in Letchworth Avenue. From left, sisters, Diana and Debbie Domican, founders of Dom Education…
The National Company Law Tribunal (NCLT), Kolkata Bench, has admitted an insolvency petition against solar module manufacturer Vikram Solar Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC), following a plea filed by operational creditor Isitva Steels Private Limited over an alleged default of ₹9.44 crore. The insolvency application pertains to unpaid dues…
A Practical Perspective on India’s Evolving Insolvency Framework Introduction The Insolvency and Bankruptcy Code, 2016 (IBC) is widely regarded as one of India’s most significant economic and legal reforms. Before its introduction, recovery and insolvency matters were governed by different laws and forums, often resulting in prolonged litigation, uncertainty and erosion…
REVEALED: Latest business liquidations in Adelaide Adelaide Now Read the original article here
Directors and officers of corporations take great comfort in having corporate insurance to protect challenges to their decision-making or allegations of failing to act–but are those policies cold comfort if the corporation goes bankrupt? Bankruptcy courts saw an 11% increase in filings last year, with business bankruptcy filings rising 7.1% for the 12-month period ending…
The company also had $326,600 in accounts payable that liquidators classed as “probable claims”. The only assets liquidators said were available to them were $8000 in a company bank account and $106,370 due from the sale of the business to Weyland Group. The business of Wild Poppies – an online florist operating since 1998 –…
Another UK road haulage and freight company has plunged into liquidation in another major blow for the sector. K2B Transportation Limited, a family-run business operating in the East Midlands, formally filed for liquidation earlier this month. According to the London Gazette, liquidators were appointed to the business on June 8, with a formal notice issued…