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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Northgold AB has successfully completed the closing and will proceed with the liquidation TradingView Read the original article here
Wesfarmers Health has acquired Pharmacy 4 Less Group, a national discount pharmacy chain that entered voluntary administration on April 29. The deal, effective from June 4, includes 53 franchised community pharmacies under the Pharmacy 4 Less brand and an additional 12 pharmacies under the Your Chemist Shop banner, with most stores located across Victoria and…
“We wish to inform that in the appeal filed, the Hon’ble National Company Law Appellate Tribunal, New Delhi (NCLAT), today suspended the order dated May 30, 2025, passed by the National Company Law Tribunal, Mumbai in case no. C.P. (IB)/624(MB)2022, admitting the Company into Corporate Insolvency Resolution Process,” the Anil Ambani-owned company said on Wednesday.…
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New Delhi, Jun 4 (PTI) 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…
In a significant relief for Reliance Infrastructure, the National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed the insolvency proceedings initiated against the company.In a regulatory filing, Reliance Infrastructure confirmed that the appellate tribunal has suspended the earlier order passed by the National Company Law Tribunal (NCLT), Mumbai, reported PTI.“In the appeal filed, the NCLAT,…