NCLT Can Invoke Inherent Powers To Permit Withdrawal Of Voluntary Liquidation Despite Absence Of Specific Provision In IBC: NCLT Chandigarh

Liquidation

The National Company Law Tribunal, Chandigarh Bench, comprising Harnam Singh Thakur (Member-Judicial) and Shishir Agarwal (Member-Technical), has disposed of an application seeking withdrawal of voluntary liquidation. The adjudicating authority held that even in the absence of specific provision under the IBC, it can allow the withdrawal of voluntary liquidation by invoking its inherent power under…

Insolvency Service Annual Plan 2025 to 2026

Liquidation

We are pleased to introduce the Insolvency Service’s Annual Plan for 2025 to 2026, setting the Agency’s priorities for the year ahead. Our plan focuses on how we will support businesses and citizens, delivering against the Government’s number one mission to kickstart economic growth, deliver economic stability and improve prosperity in the UK; with a…

African venture firm, 54 Collective, forced into liquidation over misused grant

Liquidation

A South African High Court has provisionally liquidated venture firm 54 Collective following allegations from the Mastercard Foundation of serious financial misconduct and “blatant disregard for the law,” involving a $106.5 million charitable grant, court documents obtained by Condia have shown. The foundation had disbursed over $42 million to the firm, originally registered as Africa…

NCLAT Refuses to Entertain ₹13.6 Cr GST Claim Filed After Resolution Plan Approval [Read Order]

Liquidation

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…

Online Quiz, Insolvency And Bankruptcy Code

Liquidation

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…

Somerset business enters liquidation after 30 years

Liquidation

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…

Didcot building firm liquidated as huge debts are revealed

Liquidation

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…