NCLAT stays insolvency proceedings against government-owned Container Corporation India Ltd – The New Indian Express

By Express News Service NEW DELHI:   Government-owned Container Corporation India Ltd (Concor) has got a relief from the National Company Law Appellate Tribunal (NCLAT) after the tribunal stayed an NCLT order allowing the initiation of a corporate insolvency resolution process against the company. Concor informed in an exchange filing that the NCLAT has stayed the…

India's SpiceJet denies reports of enhanced surveillance – ch-aviation

SpiceJet (SG, Delhi International) calls reports India’s Directorate General of Civil Aviation (DGCA) has put it under so-called enhanced surveillance “absolutely incorrect.” The denial is despite the Press Trust of India (PTI) outlet citing an unnamed DGCA official saying the agency has stepped up its oversight of the under-pressure airline since June 22. “The information…

Property developer Dyldam's decade of debt, defective buildings and corporate reincarnation – ABC News

Dyldam was once a towering force. Its apartments still line the streets and light up the skyline of western Sydney. But for more than a decade, the Dyldam group has left a trail of misery behind it that includes bankrupt businesses, unpaid taxes, tradies denied payment for work they’ve done, suppliers ripped off, and anguished apartment…

Insolvency specialist Begbies Traynor sees rise of companies going bust continuing into 2024 – Yahoo Singapore News

Among the insolvencies handled by Begbies were Paperchase, Worcester Rugby Club and the operator of the Park Lane Casino. (David Davies/ PA) (PA Wire) Insolvency specialists Begbies Traynor said the amount of companies going bust could keep rising all the way into 2024, but the growth will be steady rather than a sudden jump. Profit…

MD of India's SpiceJet to invest 5bn – ch-aviation

The promoter and managing director of SpiceJet (SG, Delhi International) has agreed to inject INR5 billion Indian rupees (USD61 million) into the under-pressure airline to strengthen its financial position and maximise growth opportunities. Ajay Singh’s equity contribution will also assist the airline in accessing a further INR2.06 billion (USD25.1 million) via the Indian government’s Emergency…

Former Celsius CEO Arrested, Sued by SEC for Securities Fraud – nft now

In the latest in a string of legal actions relating to the crypto industry in recent weeks, Alex Mashinsky, the co-founder and former CEO of the now-bankrupt cryptocurrency lending platform Celsius, was taken into custody on Thursday, Bloomberg reported. The development follows an extensive investigation into the companys abrupt downfall, according to a source familiar…