A bus operator serving Nottingham and Nottinghamshire has proposed to enter an insolvency process as it faces “challenging trading conditions”. Community Transport for Nottingham (CT4N), which runs more than 20 local services, announced on Wednesday it had proposed a Company Voluntary Arrangement (CVA). If the CVA is approved by creditors, the company said it would…
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NEW DELHI: The National Company Law Tribunal (NCLT) has directed for initiation of insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of debt-ridden group Jaiprakash Associates Limited, for a default of Rs 45 crore. The direction of Cuttack bench of NCLT came after it admitted a plea filed by the company’s operational creditor Sidhgiri Holdings…
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In a significant development under the Insolvency and Bankruptcy Code, 2016 (“Code”), the National Company Law Tribunal, Chennai Bench – II, has admitted an Application filed under Section 7 of the Code by IDBI Trusteeship Services Ltd. (“IDBI”) against Ozone Homes Pvt. Ltd., marking the commencement of the Corporate Insolvency Resolution Process against the real…
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