Category Archives: Liquidation

NCLT directs insolvency resolution proceedings against Gensol Engineering and arm Gensol EV Lease

The National Company Law Tribunal (NCLT) admitted  Gensol Engineering Ltd. and its arm Gensol EV Lease Ltd for insolvency resolution following separate petitions filed by Indian Renewable Energy Development Agency Ltd. (IREDA). However, NCLT appointed an alternative interim resolution professional (IRP) for both the companies, while rejecting the name proposed by IREDA. On May 14, State-run IREDA had filed an…

Insolvency professional takes charge at JCT Ltd as workers’ hope renewed

In a significant development in the corporate insolvency proceedings of Jagatjit Cotton Textile Mills (JCT) Ltd, Insolvency professional Hasti Mal Kachhara officially assumed charge of the company’s affairs on Friday at its Phagwara premises. Appointed by the National Company Law Tribunal (NCLT), Mr. Kachhara arrived with his resolution team, marking the formal start of efforts…

NCLT directs insolvency against Gensol, Gensol EV Lease; appoints IRP – Deccan Herald

NCLT directs insolvency against Gensol, Gensol EV Lease; appoints IRP  Deccan Herald Read the original article here

NCLT admits insolvency plea against Gensol Engineering

The National Company Law Tribunal (NCLT), Ahmedabad Bench, has admitted an insolvency petition against Gensol Engineering Limited filed by state-owned lender Indian Renewable Energy Development Agency Limited (IREDA). The petition cites a massive default of ₹510.10 Crore on loan facilities extended for various solar and electric vehicle (EV) projects. Key Findings of the Tribunal Proven Debt & Default: The NCLT Bench,…

MBK Partners selling struggling Korean retail chain Homeplus

(June 13): South Korea’s troubled retail chain Homeplus Co opened itself up to a takeover as its private equity owners seek to avoid the firm’s liquidation. MBK Partners Ltd is seeking to find a buyer for Homeplus after a recent review showed the company’s liquidation value exceeds its going-concern value, according to an MBK Partners…

NCLT Admits Insolvency Against Gensol Engineering Over Rs 510 Cr Loan Default – outlookbusiness.com

NCLT Admits Insolvency Against Gensol Engineering Over Rs 510 Cr Loan Default  outlookbusiness.com Read the original article here

Liquidators urge customers to get in touch after Stirling pram store closure

Staff and expectant mums were caught off guard after the established Stirling business went into liquidation Stirling Pram, most recently operating from STEP’s business park in Stirling, closed its doors suddenly Liquidators dealing with the fallout after a Stirling city centre pram business collapsed are asking worried customers to get in touch. Mums-to-be were left…