The Reserve Bank of India (RBI) has cancelled the license of Lucknow-based HCBL Co-Operative Bank over multiple irregularities and authorities are to begin the liquidation process. The bank had violated several provisions of the law and had been non-compliant leading to the RBI’s conclusion that depositors were at risk should the bank continue to operate.…
Victoria-based MVP Print has gone into liquidation, putting its offset printing, finishing, and pallet racking equipment for auction. Gollant Auctioneers and Valuers have put the company’s items online for unreserved auction, including: A Heidelberg SM52-4P four-colour press A Heidelberg SM52-2 two-colour press Polar 78XT and 55EM Guillotines A Wohlenberg 92 Guillotine A Horizon SPF-20A Stitching…
In a major relief for Reliance Infrastructure, the National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed insolvency proceedings initiated against the company. In a regulatory filing, Reliance Infrastructure said that the appellate tribunal has stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which had admitted an insolvency…
New Delhi: In a big relief to Reliance Infrastructure, appellate tribunal NCLAT on Wednesday stayed the insolvency proceedings against the company. Reliance Infrastructure in a regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) suspended the order passed by the NCLT over an appeal filed by it. “In the appeal filed, the NCLAT,…
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Swindon waste-gasification business goes into liquidation ENDS Waste & Bioenergy Read the original article here
The group, which lost most of its crucial businesses like telecom, financial services and naval and ship building to bankruptcy, has been fighting survival in the last 7-8 years, when IDBI Trusteeship Services (operational creditor) — a trusteeship company jointly promoted by IDBI Bank, LIC, and GIC of India– had filed a plea with National…
SC Ruling May Delay HNGIL Resolution; Escalate Acquisition Cost The corporate insolvency resolution process (CIRP) for Hindusthan National Glass & Industries Ltd (HNGIL), India’s leading glass packaging manufacturer, faces fresh hurdles after a Supreme Court ruling. The court directed Bermuda-based Independent Sugar Corporation (INSCO), part of Uganda’s Madhvani Group, to match the higher bid of…
Brisbane-based creative agency Khemistry has re-entered the market as an independent entity following the liquidation of its former parent company, GrowthOps. The agency, known for its impactful behaviour change campaigns, had been part of GrowthOps for seven years before the parent company’s insolvency led to its closure earlier this month. An agreement in principle has…
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