The National Company Law Appellate Tribunal (NCLAT) has set aside an order of the Adjudicating Authority that had permitted a creditor to intervene in a concluded voluntary liquidation process, despite the claim being filed beyond the prescribed limitation period. The appeal was filed by the liquidator of Nextgen Procon Pvt. Ltd., challenging an order dated…
Synopsis: Diksha Greens hit a 5% lower circuit after NCLT admitted an insolvency plea by Punjab & Sind Bank over unpaid dues of Rs 46.03 crore. The loan, given in 2018, turned NPA in 2019. NCLT has started CIRP and appointed an IRP. With a market capitalisation of Rs 4.34 crore, the shares of Diksha…
Why Has Bowen Coking Coal Entered Voluntary Administration? Bowen Coking Coal, a Queensland-based mining company, has appointed voluntary administrators as of July 30, 2025, putting more than 500 jobs at risk at its Burton Mine near Moranbah. The company’s decision follows a series of financial challenges that have made its operations increasingly unsustainable in Queensland’s…
Bowen Coking Coal has entered voluntary administration, a move that has heightened concerns regarding the future of the coal industry in Queensland, Australia, and the security of more than 500 jobs at the Burton Mine near Moranbah. The company had previously sought a royalty deferral from the Queensland Revenue Office, which was rejected on 29…
The National Company Law Tribunal (NCLT), Ahmedabad bench, comprising Justice Shammi Khan (Judicial Member) and Mr. Sanjeev Kumar Sharma (Technical Member), has initiated the Corporate Insolvency Resolution Process (CIRP) against Blu-Smart Mobility Ltd. (Corporate Debtor) upon an admitted default of Rs.1,28,02,195. Brief Facts Catalyst Trusteeship Limited (Applicant/ Financial Creditor) filed the petition under Section 7…
Owners of Bowen Basin mine enter administration amid coal price slump MSN Read the original article here
The Ministry of Corporate Affairs (MCA) in response to questions raised by Shri Raghav Chadhahas responded to the Rajya Sabha that as of March 2025, a total of 6,988 cases were pending under the Insolvency and Bankruptcy Code (IBC). And as of now there is no proposal to increase the NCLT benches to avoid the…
Australia’s second largest disability employer to go into administration MSN Read the original article here
A mining giant in charge of a steel-making coal mine in north Queensland’s Bowen Basin has entered liquidation after a series of claims totalling more than $29 million from a former contractor. It has left about 500 jobs at Bowen Coking Coal’s Burton Coal Complex in doubt. Mark Holland and Shaun Fraser from restructuring firm…
The Firm advised and represented the committee during the entire resolution process of the Vidarbha, including reviewing the challenge process document, review of resolution plans received during the CIRP, negotiations with the prospective resolution applicants and implementation of the Resolution Plan. The transaction team was led by Madhav Kanoria (Partner) and Surbhi Pareek (Partner) with assistance from Associates Parnika Jain and Ayushee Singh. The…