The Ministry of Corporate Affairs (MCA) is set to introduce significant changes to the annual filing system with the launch of MCA-21 V3 portal. These comprehensive updates will revolutionize how companies handle their annual compliance requirements, introducing new forms, enhanced functionalities, and streamlined processes. Introduction of Five New Annual Filing Forms …
Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, has urged Ghanaian businesses to seek restructuring and insolvency services in times of temporary financial difficulty to avert liquidation. “I want to strongly urge SMEs, state-owned enterprises and even large corporations to seek restructuring support at the first sign of distress and not…
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New Delhi: The Insolvency and Bankruptcy Board of India (IBBI) has notified amendments to the regulations governing corporate insolvency, aiming to streamline procedures, protect creditor interests, and encourage greater investor participation in resolution processes. Among the significant change introduced is a provision for allowing resolution professionals with the Committee of Creditor’s (CoC) approval, to invite…
Firewood supply company’s assets to be sold following liquidation Insider Media Ltd Read the original article here
NEW DELHI: The insolvency appellate tribunal has approved the insolvency proceedings against the debt-ridden Jaypee Cement, upholding an earlier order passed by the National Company Law Tribunal (NCLT). A two-member bench of the NCLAT rejected the appeal filed by Alok Gaur against the NCLT order, saying the debt and default matter is proved, and it…
Ravi Mittal, chairperson of the Insolvency and Bankruptcy Board of India (IBBI), has lauded the positive results following the implementation of the Insolvency and Bankruptcy Code, 2016 (IBC), including rescuing distressed businesses and improvements in creditors recovering debt. In addition, the IBC had an amplified positive economic effect that led to revitalising the credit market,…
Queensland college collapses into administration Gold Coast Bulletin Read the original article here
By Lukman Olabiyi Justice Dehinde Dipeolu of the Federal High Court, Lagos, has ordered a bank to pay the liquidator of Addy Finance & Investments Limited (in liquidation) the sums of N39,108,417 and $53,078.04, with pre-judgment interest at 20% and post-judgment interest at 10% per annum. The court,also directed the bank to deliver certified statements…
Venture Developments said it wasn’t paid for the work and took Realm Victoria to court. Realm Victoria claims to be in an “unresolved payment dispute” with Kāinga Ora – but Kāinga Ora maintains Realm Victoria Ltd has not raised any payment disputes. Realm Victoria shareholders and directors Kerry Hitchcock and his son Alex Hitchcock are…