While the bank provided a personal hearing, it found the arguments in the reply to be “not sustainable” against specific allegations such as “mis-utilization of funds, improper loan utilization, unauthorized transfers,” and “fund recycling”. RCOM’s disclosure notes that the company is protected from legal proceedings under the Insolvency and Bankruptcy Code, 2016, during its CIRP.…
The financial and legal turmoil surrounding Anil Ambani and Reliance Communications (RCom) has escalated into a systemic crisis for India’s banking sector and corporate governance framework. With multiple banks classifying RCom’s loan accounts as “fraud” and regulatory agencies intensifying investigations, the case underscores the fragility of legacy defaults and the challenges of reconciling insolvency proceedings…
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Eight of the nine Smiths City stores across the country are set to open for a “significant” liquidation sale, liquidators say. Earlier this week, the furniture and home appliance retailer went into voluntary administration. Administrators called for “urgent” expressions of interest for potential buyers of the business. Liquidators from BDO New Zealand announced liquidation sales…
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Owner of burger chain falls into liquidation after deadly outbreak Food Safety News Read the original article here
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Smiths City administrators reopen stores for mass liquidation sale BusinessDesk | NZ Read the original article here
Reliance Anil Ambani | Image: Republic RCom Loan Case: Reliance Communications Ltd. (RCom) and its former director Anil Ambani faced a fresh blow on September 5, 2025. Bank of Baroda declared its loan accounts as “fraud.” The bank clarified in an exchange filing that these loans were taken before RCom entered insolvency in 2019. The…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…