Anil Ambani’s counsel is learnt to have urged the State Bank of India (SBI) to withdraw its decision classifying the debt-laden telecom operator and its promoter-director Anil Ambani as “fraud.” The counsel claimed the move was made “without giving Anil D. Ambani a chance to present his case.” Once among India’s largest mobile service providers,…
Introduction In 2016, the Insolvency and Bankruptcy Code (IBC) was introduced, fundamentally changing how distressed businesses in India are restructured and how debt recovery is managed. The IBC has paved the way for significant corporate restructurings, including the high-profile acquisition of Essar Steel by ArcelorMittal and the impending acquisition and revival of Videocon Industries by…
The Kolkata bench of the National Company Law Tribunal (NCLT) directed the liquidation under section 33 of Insolvency Bankruptcy Code (IBC), 2016 in absence of Resolution Plan even after extending the time period. he tribunal ordered the liquidation of Shomuk Consultancy Services Private Limited, the Corporate Debtor and Mr. Mahesh Chand Gupta is appointed as…
Reliance Communications (RCom) is learnt to have urged the State Bank of India (SBI) to withdraw its decision classifying the debt-laden telecom operator and its promoter-director Anil Ambani as “fraud.” Company sources claimed the move was made “without giving Anil D. Ambani a chance to present his case.” Once among India’s largest mobile service providers,…
Reliance Communications (RCom) is learnt to have urged the State Bank of India (SBI) to withdraw its decision classifying the debt-laden telecom operator and its promoter-director Anil Ambani as “fraud.” Company sources claimed the move was made “without giving Anil D. Ambani a chance to present his case.” Read More Once among India’s largest mobile…
An award-winning Melbourne restaurant which began as a delivery service during lockdown has gone bust. 1800 Lasagne graduated to a physical store in August 2020, winning a cult following, awards, and the patronage of Jamie Oliver in the inner-north suburb of Thornbury. But external administrators have now been called in, and the business may be…
In a recent case, the National Company Law Tribunal (NCLT) New Delhi Bench has held that provisions of moratorium is not applicable to transactions which might be notified by Central Government and admitted the Insolvency application in establishment of default debt. The Company Application filed under section 7 of the Insolvency and Bankruptcy Code, 2016…
Report reveals reasons behind administration of Gusto Restaurants Insider Media Ltd Read the original article here
Photo: 123rf New Zealand’s largest mānuka honey producer Comvita is eyeing a company sale, amid challenging times in the global honey sector. The listed health and wellness company announced on the NZX on Monday morning that its board voted in favour of a bid by Florenz, a subsidiary of investment firm Masthead, to buy the…
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