Deccan Chronicle loan fraud case: Insolvency process begins after Canara Bank petition – The News Minute

Liquidation

The National Company Law Tribunal (NCLT) has appointed an insolvency resolution professional. The National Company Law Tribunal (NCLT)’s Hyderabad bench appointed an insolvency resolution professional (IRP) on Wednesday, to resolve the crisis faced by the Deccan Chronicle Holdings Limited (DCHL).  The Times of India reported that the NCLT invoked Section 7 of the Insolvency and Bankruptcy Code (IBC),…

DCHL debt crisis: NCLT kick-starts insolvency process – Times of India

Liquidation

HYDERABAD: Invoking Section 7 of the Insolvency and Bankruptcy Code (IBC), the National Company Law Tribunal (NCLT) bench at Hyderabad on Wednesday appointed an insolvency resolution professional (IRP) for resolving the debt crisis at Hyderabad-based Deccan Chronicle Holdings Ltd (DCHL) and declared a moratorium of 180 days. A bench of Rajeswara Rao Vittanala, member (judicial),…

Passengers stranded at Gatwick Airport as parking company goes bust and abandons cars across Sussex and Surrey – The Independent

Liquidation

Hundreds of passengers arriving back into Gatwick Airport found themselves stranded after the meet and greet car parking firm theyd used abruptly stopped trading. Gatwick First Parking, which isnt officially affiliated with the airport, had been operating for 10 years, keeping clients cars in a secure CCTV monitored compound. But the company seems to have…

SumoSalad’s voluntary administration plan reportedly paying off in Westfield rent dispute: Are franchises finally … – SmartCompany.com.au

Liquidation

Healthy food franchise network SumoSalad says its close to brokering a deal on rents with Westfield after placing two of its leasing entities in voluntary administration in June, but franchise experts say while the move is a bold one to assert the rights of franchisees, shopping centres are becoming a less attractive place to do…