Powerlong Faces Liquidation Application Amidst Financial Dispute – TipRanks
Powerlong Faces Liquidation Application Amidst Financial Dispute TipRanks Read the original article here
Powerlong Faces Liquidation Application Amidst Debt Challenges – TipRanks
Powerlong Faces Liquidation Application Amidst Debt Challenges TipRanks Read the original article here
Voluntary Administrators Called in May 2024
Update Tuesday July 16, 2024: Dion Lee is on sale with between 40 per cent and 80 per cent off the entire collection both in-store and online. Prices start as low at $19. Local designer label Dion Lee has entered voluntary administration, bowing to economic pressures. Antony Resnick of insolvency firm DVT has been appointed…
NCLT admits insolvency proceedings against AVIOM India Housing Finance, ET LegalWorld
The National Company Law Tribunal (NCLT) has admitted the application for commencement of corporate insolvency resolution process against AVIOM India Housing Finance. On January 27, the Reserve Bank had superseded the board of AVIOM owing to governance concerns and defaults in meeting various payment obligations, and appointed Ram Kumar, ex-CGM of Punjab National Bank, as…
NCLT Doesn’t Have Jurisdiction To Direct ED To Defreeze Corporate Debtor’s Account Frozen Under PMLA: NCLT
The National Company Law Tribunal (NCLT), New Delhi bench comprising Justice Bachu Venkat Balaram Das (Judicial Member) and Atul Chaturvedi (Technical Member) has held that the NCLT, which is the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016 (IBC/ the Code) does not have the power to issue directions to the Directorate of Enforcement…
Approved Resolution Plan Cannot Be Reopened For Belatedly Agitated Claims: NCLAT
The National Company Law Appellate Tribunal, Principal Bench, New Delhi comprising of Justice Ashok Bhushan (Chairperson), Barun Mitra (Member (Technical) and Arun Baroka (Member (Technical), dismissed a set of four appeals filed under Section 61 of Insolvency and Bankruptcy Code 2016 stating that the appellants had failed to exercise due diligence on protecting their rights…
Corporate Debtor’s Account Payments Post-CIRP Start Without IRP Approval Is a Moratorium Violation: NCLT
The Liquidator was instructed by the Tribunal to notify IBBI for proceedings under Section 74(1) of the Code, and Respondents were ordered to reimburse sums totaling Rs. 10,01,80,000 The National Company Law Tribunal, Mumbai bench has held that after the Corporate Insolvency Resolution Process (CIRP) has begun, any payments made from the Corporate Debtor’s account…
Brindabella Christian College operating as usual despite entering voluntary administration – MSN
Brindabella Christian College operating as usual despite entering voluntary administration MSN Read the original article here
Mark Butler calls Australia’s private hospitals and insurers to urgent meeting amid Healthscope financial crisis – The Guardian Australia
Mark Butler calls Australia’s private hospitals and insurers to urgent meeting amid Healthscope financial crisis The Guardian Australia Read the original article here
NCLT Have No Jurisdiction to Direct ED to Defreeze Corporate Debtor’s Account Frozen Under PMLA: NCLT
The panel ruled that when the Corporate Debtor’s account was frozen in accordance with the Adjudicating Authority’s instructions under the PMLA, it lacked the authority to order the ED to defreeze it The Tribunal ruled that only the authorities specified under the PMLA have the authority to handle cases pertaining to account freezing and attachment…