SINGAPORE – Hin Leong’s founder Lim Oon Kuin and his two children were declared bankrupt last week, the electronic government gazette published on Dec 27 showed. Better known in the oil trading industry as O.K. Lim, the 82 year old, his 57-year-old daughter Lim Huey Ching and 54-year-old son Lim Chee Meng will have their…
National Company Law Tribunal (NCLT) has recently initiated Corporate Insolvency Resolution Process (CIRP) against Hero Electric Vehicles Pvt Ltd following a petition filed by Metro Tyres. The operational creditor alleged that Hero Electric failed to clear dues amounting to ₹1.85 crore for tyres and tubes supplied between August and December 2022. In its December 20…
Sohinder Gill, CEO of Hero Electric India poses with the Dash and ER series electric two-wheelers, in Kolkata. | Photo Credit: PTI The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Hero Electric after admitting a plea filed by Metro Tyres, an operational creditor claiming a default of ₹1.85 crore. As…
The National Company Law Tribunal (NCLT) has begun insolvency proceedings against Hero Electric, following a plea by operational creditor Metro Tyres over an alleged default of Rs 1.85 crore. The tribunal also appointed Bhoopesh Gupta as Interim Resolution Professional to manage the company after the board’s suspension. Hero Electric’s defense, citing a pre-existing…
The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against Hero Electric after admitting a plea by Metro Tyres over unpaid dues of Rs 1.85 crore. New Delhi, Dec 27 (PTI) The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Hero Electric after admitting a plea filed by Metro Tyres,…
New Delhi, Dec 27 (PTI) The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Hero Electric after admitting a plea filed by Metro Tyres, an operational creditor claiming a default of Rs 1.85 crore. As per provisions of the Insolvency & Bankruptcy Code (IBC), NCLT has appointed Bhoopesh Gupta as Interim…
Israel to persist until job is done, says Netanyahu after strikes at Houthi targets in Yemen | N18G On December 26, 2024, Israel launched airstrikes targeting multiple facilities linked to the Iran-aligned Houthi movement in Yemen, including Sanaa International Airport, Red Sea ports, and power stations in Hodeidah, Hezyaz, and Ras Kanatib. Houthi media reported…
Dundee man fears he could go bankrupt after Raac found in flats Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope.
The petition was filed by Metro Tyres Limited over dues of ₹1,85,25,373 towards goods supplied between August and December 2022. Hero Electric contended that the petition is not maintainable due to a pre-existing dispute over the quality of the goods supplied after September 2022. According to Hero Electric, these quality issues, identified through customer feedback,…