The Parliament has declared the Technical University of Kenya (TUK) insolvent, citing an overwhelming debt of Ksh12 billion that has crippled the institution’s operations. To declare something insolvent means to formally recognise that an entity, such as a business, organisation, or individual, cannot pay its debts as they come due. The decision, which was…
Prashant Kumar has officially resigned from his positions as Chief Financial Officer (CFO) and President (Accounts and Finance) of Ansal Properties and Infrastructure Limited (APIL), with the resignation taking effect from April 4, 2025. This decision, initially under consideration, was formally accepted during the second Meeting of the Committee of Creditors (COC) of APIL, held…
Saint John-based Moltex Energy Canada Inc. is hoping potential new owners for its overseas parent company will breathe new life into its development of small modular nuclear reactor technology in the province. But the company acknowledges that cash flow problems at its U.K.-based parent company have slowed down those efforts. There is “a risk of…
Saint John-based Moltex Energy Canada Inc. is hoping potential new owners for its overseas parent company will breathe new life into its development of small modular nuclear reactor technology in the province. But the company acknowledges that cash flow problems at its U.K.-based parent company have slowed down those efforts. There is “a risk of…
The Covid Bounceback loans, plus various business support schemes from 2020-2121 were a golden opportunity for scammers and fraudsters in the UK and abroad. Many cases are still feeding their way through the UK justice system and of course, many millions will never be recovered – except by raising taxes on more honest citizens. Here’s…
From the brink of bankruptcy to $2.45bn and beyond The Australian Read the original article here
Members of Parliament (MPs) from the Committee on Education and Administration have declared the Technical University of Kenya insolvent following a Ksh12 billion debt that has plagued the institution since 2013. On Wednesday, April 16, administrators at the institution faced the committee, upon which a deteriorating cash crunch was noted. Both former and current administrators…
In a significant development in the ongoing insolvency proceedings involving Supertech Ltd, the National Company Law Appellate Tribunal (NCLAT) has dismissed the plea filed by Ram Kishor Arora, the former promoter of the real estate firm, challenging the initiation of personal insolvency proceedings against him. Earlier this year, the Delhi bench of the National Company…
The Technical University of Kenya (TUK) is in a tough spot, grappling with a massive Ksh 12 billion debt. This financial turmoil has led to the university being officially declared insolvent by the Parliamentary Committee on Education and Administration. The committee’s investigation into TUK’s current and past management has uncovered some concerning issues. Staff members,…
Image used for representation | Photo Credit: The Hindu An umbrella organisation of workers’ unions has sought action against all those involved in the corrupt liquidation of two paper mills in Assam, paving the way for one of India’s two major indigenous semiconductor plants. Demanding an independent probe under judicial monitoring to uncover further instances…