The Reserve Bank of India (RBI) has filed an application with a company tribunal to initiate insolvency proceedings against Aviom India Housing Finance. This decision follows the RBI’s earlier move to supersede the board of Aviom due to governance concerns and payment defaults. While the specific governance issues have not been disclosed, the central bank…
The Finance Minister is expected to place the Union Budget in Parliament on February 1, 2025. While critical fiscal law reforms are likely, the government should take this opportunity to initiate deeper reforms to revigorated the Indian stressed assets markets. The IBC was a radical structural reform when it was introduced in 2016. It has…
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Subscribe now with a one-month trial for only $1, then enjoy the first year at an exclusive rate of just $99. Will DeepSeek deep-six the US economy? Steve Hsu and David P. Goldman examine the potential economic fallout from the recent DeepSeek shock, which has raised concerns about overvaluation in US tech stocks and its broader…
Spirit Airlines said on Monday that it had filed for bankruptcy protection and would attempt to reboot as it struggles to recover from the pandemic-caused decrease in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest US budget airline, has lost more than $2.5bn since the start of 2020 and…
Thames Water’s board is split over two competing deals from its lenders aimed at saving the UK’s biggest water supplier from going insolvent. Two classes of creditors, group A bondholders and group B bondholders, are offering high-interest £3bn rescue packages intended as a liquidity lifeline while the company burns through cash and seeks to restructure…
A number of businesses have shown interest in purchasing Arshiya Ltd., a publicly traded supply chain and logistics infrastructure company that is presently going through corporate insolvency resolution. These businesses include Adani Ports and Special Economic Zone, JSW Infrastructure, Horizon Industrial Parks, and Transindia Real Estate Ltd. Investors like Authum Investment & Infrastructure Ltd, Dickey…
Insect protein scaleup Agronutris at risk of insolvency: ‘Access to funding has become harder’ Sifted Read the original article here
Digital River, a Minnetonka-based e-commerce pioneer with a global client roster, is shuttering its headquarters and laying off 122 employees after more than 30 years in business. The permanent layoffs, which include remote workers across the country, should start March 28, according to a WARN notice Digital River filed Monday with the Minnesota Department of…
Once a shining beacon of India’s booming edtech industry, Byju’s is now making headlines for all the wrong reasons. The company that once symbolized the aspirations of millions of students and parents is now caught in a legal and financial whirlwind, struggling to survive under an insolvency resolution process. In a dramatic turn of events,…