The National Company Law Appellate Tribunal (NCLAT) dismissed a plea by the Himachal Pradesh GST Department seeking to recall an approved resolution plan, citing belated claims worth ₹13.6 crore. The Appellate Tribunal held that allowing such late-stage claims, especially after the resolution plan has already been implemented, would not only derail the Corporate Insolvency Resolution…
The National Company Law Tribunal (NCLT), Chandigarh Bench of Justice Harnam Singh Thakur, (Judicial Member) and Sh. Shishir Agarwal (Technical Member) has held that the claim of an allottee cannot be rejected solely on the ground of being a speculative investor. An allottee does not cease to be a financial creditor merely because they qualify…
Personal insolvencies up as inflation bites The Australian Read the original article here
The Insolvency and Bankruptcy Code, 2016 (IBC) provides a market mechanism for reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders. It is one of…
MH Joinery at Unit 11 of Colley Lane industrial estate officially passed a special resolution on 10 July, 2025 to be wound up voluntarily. Read More: Bridgwater shop shuts as council says ‘open for business’ Bridgwater restaurant closes after years of trading Farage pledges target to halve crime if Reform enters government It follows speculation…
Aston Conservation & Building Ltd was put into voluntary liquidation earlier this month by company director Antony Page-Smith, 57. The family-run Didcot-based business, founded in 2017, is described as a “well-established trusted name” across Oxfordshire and West Berkshire on its website. It specialises in building work with a focus on extensions, renovations and refurbishments, particularly…
McWilliam’s Wines’ Hanwood Estate vineyard Tim Mableson is an expert in deal advisory and restructuring, and is the national leader in agriculture and wine sectors for KPMG Australia. He has worked as a voluntary administrator for numerous high-profile wine businesses such as McWilliams Wines, Fox Creek and Salena Estates. Here, he patiently explains the intricacies…
The first report by liquidators Steven Khov and Kieran Jones on June 11 shows the company had no assets at the date of liquidation, and the sole creditor was Inland Revenue, owed $559,739. Brown has asked the council’s chief executive, Phil Wilson, to look into the situation. Wilson said yesterday that neither he nor the…
The former promoters of Bhushan Steel and Power Ltd on Monday urged the Supreme Court to accord an open court hearing to their plea seeking review of the May 2 verdict ordering liquidation of BSPL under the Insolvency and Bankruptcy Code. The top court had on May set aside the resolution plan submitted by JSW…
Mexican restaurant chain faces Chapter 7 bankruptcy, liquidation TheStreet Read the original article here