The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Arun Baroka (Technical Member) has held that when a creditor is well aware of the initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor but chooses not to file a claim before the Resolution…
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JSW Steel may be forced to write off its ₹19,700 crore investment in Bhushan Power & Steel Ltd (BPSL), after the Supreme Court declared the 2021 acquisition illegal and ordered the company into liquidation. The decision caused JSW shares to fall 5.5% on Friday to ₹972.15, and could potentially shave off 10–15% of the company’s…
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Firm attracted attention over its business practices which included fake online reviews The FBA Brand Builder offices close to Ballymena. Inset: Darren Campbell Liquidators have been appointed for a controversial NI brand building company whose CEO announced its closure more than a month ago. The FBA Brand Builder, run by Darren Campbell (34), previously charged…
THE SUPREME COURT Friday rejected steel major JSW Steel Ltd’s Rs 19,000 crore bid to acquire Bhushan Power and Steel Ltd (BPSL) through the Corporate Insolvency Resolution Process (CIRP) route, and ordered the liquidation of the company. JSW acquired BPSL in March 2021 under the Insolvency and Bankruptcy code. JSW Group Chairman and Managing Director…
NEW DELHI: Supreme Court on Friday quashed the acquisition of bankrupt Bhushan Power & Steel Ltd by JSW under the Insolvency and Bankruptcy Code and ordered liquidation of the debt-ridden company, in a blow to the Sajjan Jindal-led group and public sector banks, reports Amit Anand Choudhary.The court said there were multiple violations of law…
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Firm attracted attention over its business practices which included fake online reviews The FBA Brand Builder offices close to Ballymena. Inset: Darren Campbell Liquidators have been appointed for a controversial NI brand building company whose CEO announced its closure more than a month ago. The FBA Brand Builder, run by Darren Campbell (34), previously charged…
The sheer number of cannabis insolvencies in Canada over the last five years has resulted in a number of unique issues being considered, not least of which is directors’ liability to the Crown for unremitted excise taxes. Section 295 of the Excise Act, 2001 (Canada) (“Excise Act”) imposes liability on corporate directors for a corporation’s…