NCLAT stays insolvency proceedings against Reliance Infrastructure – Deccan Herald
NCLAT stays insolvency proceedings against Reliance Infrastructure Deccan Herald Read the original article here
Microsoft-backed Builder.ai bankrupt after ‘AI’ powered by 700 Indian engineers
A London-based artificial intelligence company valued at $1.5 billion has filed for bankruptcy after it was revealed that its much-touted ‘neural network’ was actually a workforce of more than 700 engineers based in India. Builder.ai, backed by a reported $455 million investment from Microsoft, had claimed that its AI app-building service, ‘Natasha’, could design and…
When one is not for all
The principle of separateness is no minor technicality. It lies at the heart of company law. The landmark 1896 ruling by the British House of Lords, in Salomon vs Salomon & Co, established that once incorporated, a company acquires its own legal identity, distinct from its shareholders, directors, or affiliates. This was more than a…
early-stage startup investments: After losses in FTX, which went bankrupt in 2022, Temasek slashes early-stage startup investments by 88%
After the collapse of crypto exchange FTX, Singapore’s state-owned investment firm Temasek has significantly scaled back its involvement in early-stage startups, cutting investments by 88% over three years, as per a report. Conservative Approach Replaces High-Risk Betting Temasek, which is one of the world’s biggest investors, has changed its strategy to focus more on conservative…
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Relief for Reliance Infra as NCLAT puts bankruptcy proceedings on hold
In a relief to Reliance Infrastructure, the National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed insolvency proceedings against the company that were initiated by IDBI Trusteeship Services Ltd over an alleged default of ₹88 crore. The NCLAT bench, comprising Justice Yogesh Khanna (Judicial Member) and Indevar Pandey (Technical Member), paused the order of the…
Big relief for Reliance Infrastructure, NCLAT stays insolvency proceedings – Industry News
In a big relief to Reliance Infrastructure, appellate tribunal NCLAT on Wednesday stayed the insolvency proceedings against the company. Reliance Infrastructure in a regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) suspended the order passed by the NCLT over an appeal filed by it. “In the appeal filed, the NCLAT, today has…
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NCLAT stays insolvency proceedings against Reliance Infrastructure
Reliance Infrastructure said that there is no impact or bearing of the NCLT order on Reliance Infrastructure or any of its subsidiaries. Reliance Infrastructure said on Wednesday that the National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against the company. “We wish to inform that in the appeal filed, the NCLAT, New…
Insolvency proceedings against Anil Ambani-owned Reliance Infra suspended
The dispute with Reliance Infra dates back to April 2022, when IDBI Trusteeship Services Ltd filed a plea seeking to start a Corporate Insolvency Resolution Process (CIRP) against Reliance Infrastructure. The plea alleged a default of ₹88.68 crore as of August 28, 2018, along with interest. This default was in connection with 10 invoices that…