Introduction of bill to deal with insolvency a significant step: Economic Affairs Secretary – Economic Times

NEW DELHI: Economic Affairs Secretary Subhash Chandra Garg today said the introduction in the Lok Sabha of the bill seeking to deal with insolvency of financial service providers is a significant step. The Financial Resolution and Deposit Insurance Bill, 2017 was today introduced by Minister of State for Finance Arun Ram Meghwal. Soon after, it…

Insolvent KVV Liepajas Metalurgs posts EUR 26.145 mln in losses in 2016 – The Baltic Course

The insolvent joint-stock company KVV Liepajas Metalurgs posted EUR 26.145 million in losses in 2016, while the company’s turnover amounted to EUR 14.163 million, writes LETA, according to Firmas.lv. In 2015, KVV Liepajas Metalurgs turned over EUR 69.356 million and posted EUR 8.366 million in losses. As reported, Liepajas Metalurgs metallurgical plant based in the…

NCLT classifies Jaypee Infra as insolvent, home buyers left high and dry – Moneycontrol.com

Dhirendra Tripathi Moneycontrol News The Allahabad bench of the National Company Law Tribunal on Wednesday accepted lender IDBI Banks plea and classified Jaypee Infratech as an insolvent company. With this, the board of directors of the company remains suspended. The Tribunal will now appoint an insolvency resolution professional — an official from one of the…