Introduction In a judgment that may well redefine the contours of finality in insolvency resolution under India’s insolvency regime, the Supreme Court, in Kalyani Transco v. Bhushan Power and Steel Ltd.1, directed the liquidation of a corporate debtor more than five years after its resolution plan had been approved and implemented. The decision not only…
PHAXIAM Therapeutics Announces Judicial Liquidation and Delisting Business Wire Read the original article here
A failed multimillion-dollar trucking company – and the workers left without wages Stuff Read the original article here
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT), has rejected an appeal filed by Aditya Bhatnagar, former promoter and shareholder of Xyron Technologies Ltd., challenging the admission of a Section 7 insolvency petition against the company by the National Company Law Tribunal (NCLT). In a detailed order dated May 30, 2025, the…
In January 2020, the creditors chose to authorise the liquidator to execute a deed of assignment and indemnity under s 477(2B) of the Corporations Act 2001 (Cth) (Act). The director proposed that Eguana initiate proceedings against KNM Process System Sdn Bhd (KNMPS), previously Eguana’s sole shareholder, to recover Eguana’s debts to its creditors. In May…
The meeting addressed key issues such as class formation and the perimeter of restructuring plans, the treatment of public credit in insolvency proceedings, valuation in viability plans and the role of professionals in insolvency processes. Also analysed were issues of growing relevance, such as the sale of production units as a solution to insolvency, and…
The National Company Law Tribunal (NCLT), Mumbai Bench-I, has admitted a petition filed by Canara Bank to initiate the Corporate Insolvency Resolution Process (CIRP) against Syska E-Retails LLP. The order was delivered on 17 June 2025, by Member (Technical) Prabhat Kumar and Member (Judicial) Justice V.G. Bisht (Retd). The NCLT has appointed Mr. Vijay Pitamber…
Perth tipped to have second-lowest rate of business failures The West Australian Read the original article here
On the same day as the voluntary liquidation, a video was taken of one of the company’s skidders being tipped over a cliff next to the Waiau River in northern Hawke’s Bay near Cricklewood Rd. The video, shared online by an anonymous person, shows a Cat skidder tumbling down the bank and includes the caption…
NCLAT Allows Admission of Insolvency Proceedings Against Personal Guarantor: Debt and Default Established Through NeSL Records Taxscan Read the original article here