Liquidation of Corporate Debtor can be initiated When Successful Resolution Applicant Fails to Obtain Approvals Within One Year: NCLAT [Read Order]

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench has held that when a successful resolution applicant fails to obtain necessary approvals within one year from the date of approval of the resolution plan, liquidation of the corporate debtor can be initiated. A Successful Resolution Applicant (SRA), the appellant, Taguda Pte Ltd.has filed a…

NCLAT Sets Aside Status Quo Order in TIIPL Voluntary Liquidation; Affirms Shareholders’ Right to Replace Liquidator [Read Order]

The National Company Law Appellate Tribunal (NCLAT) has set aside a status quo order issued by the Adjudicating Authority, allowing the shareholders and directors of Transmissions International India Private Limited (TIIPL) to proceed with the replacement of the erstwhile liquidator, Chandra Prakash Chandra Prakash Jain, with a new appointee, Arun Gupta. The appeal was filed…

The Wimmera Mail-Times | Wimmera Mallee News

Waters of the Wimmera News “If you don’t know where you’ve been, how do you know where you’re going?” A history of the remarkable Wimmera water ways Wimmera historian Bob McIlvena 90, who has spent many years researching… Local News Tyre fires off-limits Farmers in the Wimmera Mallee are being warned afresh to be careful…

Tilson aims to sell its business at a bankruptcy fire sale auction, leaving creditors on the hook

RUG PULLED, TRUST SHATTERED — As Tilson Technology Management accelerates its bankruptcy-driven asset sale, contractors and suppliers are left reeling. The company’s motion to sell substantially all of its assets under Section 363 of the Bankruptcy Code could strip vendors of payment while transferring valuable contracts and equipment to a new buyer, leaving behind the…

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