In a recent case, the National Company Law Tribunal (NCLT) Mumbai Bench initiated the Corporate Insolvency Resolution Process (CIRP) against the corporate applicant on finding a default due payable. The Company Petition is filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 (“Code”) by Asis Corporate Advisors Limited (“Corporate Applicant/ACAL”), seeking to initiate…
The National Company Law Tribunal (NCLT) Mumbai Bench admitted the petition for Corporate Insolvency Resolution Process (‘CIRP’) on finding that the Corporate Debtor has defaulted in repayment of financial debt over minimum threshold of Rs. 1 crore under section 4 of the Insolvency & Bankruptcy Code 2016 (IBC). The Applicant- JM Financial Credit Solutions Limited…
A South African crypto investment company, NTC Global Trade, has officially been placed under provisional liquidation by the Pretoria High Court, marking the collapse of yet another high-profile scheme in the country’s crypto investment scene. The ruling follows the resignation of the company’s Business Rescue Practitioner (BRP), Kurt Knoop, who stepped down citing death threats.…
NCLT Allows Liquidation Application filed by Ultratech Cement against Corporate Debtor citing 66.29 % of voting approval by CoC Taxscan Read the original article here
Healthcare company buys ostomy peer-to-peer support mobile app IP from liquidated company TheBusinessDesk.com Read the original article here
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Suraksha Asset Reconstruction Company (ARC) is under scrutiny after a suspended director of Sapphire Land Development Pvt. Ltd. (SLDPL) accused it of fraud and regulatory violations in the company’s insolvency proceedings. The application, filed before the National Company Law Tribunal (NCLT) in Mumbai by former director Lakhminder Dayal Singh, alleged collusion between Suraksha ARC and…