New Delhi: The State Bank of India (SBI) has decided to report the loan account of Reliance Communications as “fraud” in a case that dates back to August 2016. Reliance Communications said in an exchange filing that this disclosure is being made pursuant to the rules of the Securities and Exchange Board of India (SEBI).…
Reliance Communications on Tuesday said that the State Bank of India (SBI) has classified its loan account as “fraud” and plans to report the company and its former director, Anil Ambani, to the Reserve Bank of India (RBI). In a stock exchange filing, the company stated that SBI has taken the decision in connection with…
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Duvar English Turkish İş Gıda A.Ş., which operated franchises for KFC and Pizza Hut across Turkey, on Feb. 12 announced it would start layoffs after it declared bankruptcy due to debts amounting to 7.7 billion TL. The company employs over 7,000 workers, whose wages and benefits went unpaid following the declaration. In a written statement,…
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NCLT Initiates Insolvency Proceedings Against Dilip Chhabria Design Guarantor Kiran Kumar Jain | Representative Image The National Company Law Tribunal (NCLT) has admitted a petition filed by Cosmos Co-operative Bank Ltd (the Financial Creditor) to initiate a personal insolvency resolution process against Kiran Kumar Jain, personal guarantor (respondent) to M/s. Dilip Chhabria Design Pvt. Ltd.…
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