SINGAPORE – After 13 years, Proof & Company Spirits – the Singapore-based distribution arm of independent spirits company Proof & Company – has entered provisional liquidation. It cited closures in the food and beverage scene (F&B) as a reason for its decision to close. “The decision follows a period of mounting challenges for the F&B…
Singapore-based distributor Proof & Company Spirits has gone into liquidation, citing ‘mounting challenges’ for the region’s hospitality sector. Proof & Company Spirits in Singapore has gone into liquidation The move was also attributed to the closure of some of the company’s longest-standing restaurants and bars. The decision, supported by the board of directors, shareholders and…
The National Company Law Tribunal (NCLT), Guwahati Bench of Mr. Rammurti Kushawaha (Judicial Member) and Mr. Yogendra Kumar Singh (Technical Member) has held that in the absence of the Liquidator’s fees being fixed by the Committee of Creditors (CoC) at the time of recommending liquidation under Section 33 of the IBC, and subsequently by the…
The Supreme Court on Monday dismissed pleas filed by the BCCI and Riju Raveendran — brother of Byju Raveendran | X @np_nationpress New Delhi: The Supreme Court on Monday dismissed pleas filed by the BCCI and Riju Raveendran — brother of Byju Raveendran — seeking withdrawal of insolvency proceedings against Byju’s and to consider the…
The recent decision of the Hon’ble National Company Law Tribunal, Mumbai Bench, in the case concerning Rolta India Limited (Corporate Debtor herein), wherein it upheld the right of the Bank of India (Financial Creditor) to classify the Corporate Debtor’s account as “fraud” during the pendency of the Corporate Insolvency Resolution Process (CIRP), has given rise…
Third Harmonic Bio to delist from Nasdaq and announces liquidation distribution By Investing.com Investing.com South Africa Read the original article here
The bench held that the CoC failed to exercise its commercial wisdom while approving JSW’s resolution plan, which was in absolute contravention of the mandatory provisions of the IBC and CIRP regulations. The former promoters of Bhushan Steel and Power Ltd on Monday urged the Supreme Court to accord an open court hearing to their…
The Delhi bench of the National Company Law Appellate Tribunal (NCLAT) held that CERSAI registration was enough to claim secured creditor status under IBC and noted that RoC non-registration was not fatal. In this case, Bizloan Private Limited appealed against the order passed by the National Company Law Tribunal, Mumbai bench, which classified the appellant…
The former promoters of Bhushan Steel and Power Ltd (BSPL) on Monday requested the Supreme Court to list their review petition against the company’s liquidation order for an open court hearing. The petition challenges the top court’s May 2 verdict that set aside JSW Steel’s resolution plan and ordered liquidation of BSPL under the Insolvency…
Minority shareholders have to take a back seat as the National Company Law Tribunal’s focus has been on insolvencies, which has impacted its other duties, namely the oppression and mismanagement jurisdiction, write Aditya Vikram Bhat and Aadith Sridhar ON9 January 2009, the Blackberrys of corporate lawyers, accountants, law enforcement officers and corporate executives started buzzing…