Shares of Reliance Infra Ltd. surged as much as 10% on Wednesday, June 4, after the company informed the exchanges that the National Company Law Appellate Tribunal (NCLAT) has suspended the order passed by the National Company Law Tribunal (NCLT), that had admitted the company into the insolvency resolution process. The NCLT had passed that…
(Reuters) -Swiss solar panel maker Meyer Burger filed for insolvency for its German subsidiaries, the company said in a statement on Saturday. Meyer Burger’s German subsidiaries, Meyer Burger (Industries) GmbH and Meyer Burger (Germany) GmbH, have initiated insolvency proceedings, the company said. Efforts to keep the German sites open will be continued as part of…
The Madras High Court in its recent judgment has dismissed the writ petition holding that a challenge against order passed by Liquidator is appealable under the Insolvency and Bankruptcy Code, 2016. The petitioners filed the writ petition challenging the communication issued by the second respondent in response to their letter dated 22.12.2020, wherein it was…
Success is difficult to handle. Here’s the story of a man who was once the sixth richest man in the world. But several challenges led to his bankruptcy. Mukesh Ambani’s net worth Mukesh Ambani is currently the richest man in India. Currently his net worth is said to be 10,640 crores USD. However, here’s about…
“We cannot announce the contents of the decision until the parties have been informed,” Naples bankruptcy court president Vito Frallicciardi told reporters. But ANSA cited court sources saying they had ruled Napoli bankrupt and that officials had already been nominated to handle relations with creditors. Napoli were Italian champions in 1987 and 1990 when they…
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3D printer manufacturer BCN3D has filed for voluntary bankruptcy, according to official court documents seen by 3D Printing Industry. First reported last week by Spanish digital outlet Crónica Global, the Spanish OEM has reportedly entered proceedings after failing to negotiate a restructuring of its outstanding debts with creditor banks last year. Barcelona’s Commercial Court No.…
Dentons Link Legal Successfully Defends Vijay Biyani In Personal Insolvency Proceedings Before NCLT Mumbai BW Legal World Read the original article here
Builder.ai Faked Business With Indian Firm VerSe to Inflate Sales, Sources Say Bloomberg.com Read the original article here
SUMMARY NCLT has issued notices to BluSmart and EPC company Gensol Engineering on insolvency petitions by creditors Spectrum Trimpex Pvt. Ltd and Catalyst Trusteeship Ltd moved NCLT against BluSmart over unpaid dues worth INR 1 crore each. Equentia Financial Services Pvt. Ltd said that Gensol Engineering owed it around INR 9 Cr The National Company…