Northgold AB has entered into an agreement to sell both its Finnish subsidiaries, including all associated gold projects — TradingView News

Liquidation

Northgold AB (“Northgold” or the “Company”) has on the 10th of April 2025, entered into an agreement with Nordic Resources Limited (“Nordic Resources” or the “Buyer”) regarding the sale of all shares in its wholly owned Finnish subsidiaries, Fennia Gold Oy and Lakeuden Malmi Oy (the “Transaction”). The consideration in the Transaction comprises a combination…

NCLT admits insolvency plea against New Bombay Paper Mills

Liquidation

Mumbai, April 2, 2025: The National Company Law Tribunal (NCLT), Mumbai Bench-IV, has admitted an insolvency petition filed by Maheshwari Fuelchem Private Limited under Section 9 of IBC against New Bombay Paper Mills Private Limited for a default of ₹3.02 crore. The tribunal ordered the initiation of the Corporate Insolvency Resolution Process (CIRP) and declared a moratorium under Section 14…

Application u/s 9 of IBC Based on Arbitral Award

Liquidation

The bench found that the MSME Council Awards were passed in 2011 and had attained finality in 2013, whereas the present Application was filed on 23.03.2022. The National Company Law Tribunal (NCLT) Mumbai bench has ruled that, in accordance with Article 137 of the Limitation Act, 1963 (Limitation Act) read with Section 238A of the…

Provident Fund Claims Filed After Approval Of Resolution Plan By Committee Of Creditors Cannot Be Admitted By Resolution Professional: NCLAT

Liquidation

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that statutory obligations must be fulfilled during insolvency proceedings; however, this does not mean that statutory dues including provident fund claims can be submitted even after…

VerSe initiates personal insolvency proceedings against Marathi producer Akshay Bardapurkar, ET LegalWorld

Liquidation

VerSe Innovations Private Limited, a reputed Bangalore-based technology company, formally files the application initiating personal insolvency proceedings under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Akshay Bardapurkar, a producer from the Marathi film industry and the face of Planet Marathi, alleging serious financial default and breach of contractual commitments. The matter relates…

Resolution Professional Can File Liquidation Application U/S 33 Of IBC If CIRP Period Expires Without Approved Resolution Plan: NCLAT

Liquidation

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Naresh Salecha (Technical Member) has held that when the extended Corporate Insolvency Resolution Process (CIRP) period has expired and no resolution plan has been approved, it is incumbent upon the Resolution Professional to file an application…