A long-standing construction firm, Paul Y. Engineering Group, on Friday had its provisional liquidation application approved by the court. The High Court has now appointed a provisional liquidator for Paul Y’s five subsidiaries to handle debts and formulate a restructuring plan. The government said while the 78-year-old company is undertaking a number of public works…
The National Company Law Appellate Tribunal (“NCLAT”) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Naresh Salecha (Technical Member) has held that the sale of a corporate debtor as a going concern in liquidation can be conducted even beyond 90 days under amended Regulation 32A(4) of the Liquidation Regulations, 2016 (Regulations).…
Downing Strategic Micro-Cap IT enters voluntary liquidation Investing.com Read the original article here
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Corporate insolvencies in England and Wales increased by 6.4% in January 2025 to a total of 1,971 compared to December 2024’s total of 1,852, and increased by 10.7% compared to January 2024’s figure of 1,780. Corporate insolvencies increased by 13.1% from January 2023’s total of 1,743. Personal insolvencies in England and Wales decreased by 3.4%…
Forever 21 may close remaining stores as second bankruptcy looms MSN Read the original article here
The National Company Law Tribunal (NCLT) has admitted insolvency proceedings against AVIOM India Housing Finance, following the Reserve Bank of India’s intervention due to governance concerns and payment defaults. New Delhi, Feb 21 (PTI) The National Company Law Tribunal (NCLT) has admitted the application for commencement of corporate insolvency resolution process against AVIOM India Housing…
“If notice under Section 8 is not replied by the Corporate Debtor for some reason or other it does not debar the Corporate Debtor to contest the application filed under Section 9 of the Code by raising its defence” The National Company Law Appellate Tribunal (“NCLAT”) New Delhi bench has held that the Corporate Debtor…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) has held that relief under section 60(5) of the Insolvency and Bankruptcy Code, 2016 (Code) cannot be claimed against rejection of claims by the liquidator when the remedy…
MCA to work on increasing recovery from corporate insolvency process MSN Read the original article here