(MENAFN– Live Mint) The wheels have come off the fraud-hit BluSmart Mobility, once hailed as a pioneer in India’s electric ride-hailing startup, as the company has been formally admitted into insolvency by the National Company Law Tribunal (NCLT) in Ahmedabad. The move follows payment defaults totalling over ₹1.28 crore and adds BluSmart to a growing…
The National Company Law Tribunal (NCLT) at Ahmedabad has admitted BluSmart Mobility Limited into the Corporate Insolvency Resolution Process (CIRP) following a petition by Catalyst Trusteeship Limited over unpaid financial obligations totalling ₹1.3 crore. Read the original article here
Singapore’s omnibus Insolvency, Restructuring and Dissolution Act, 2018 (IRDA), came into effect on 30 July 2020 and amalgamated its corporate and personal insolvency processes, which were previously in separate statutes. The IRDA also incorporated the UNCITRAL Model Law on Cross-Border Insolvency (Model Law) into Singapore law. The IRDA, together with the lingering effects of disruptions…
Beloved 159-year-old Home Depot rival closing, liquidating TheStreet Read the original article here
Killarney Brewing & Distilling Enters Liquidation The Whiskey Wash Read the original article here
A private equity-backed provider of care services to vulnerable patients across England is on the brink of insolvency, prompting Whitehall officials to draw up contingency plans for its collapse. Sky News has learnt that NRS Healthcare, also known as Nottingham Rehab, is close to falling into compulsory liquidation after efforts to find a buyer were…
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Pakistan Hotels Developers Limited (PHDL) has issued an official notification addressing shareholder concerns regarding the company’s ongoing winding-up process. The liquidation process, which began on December 31, 2024, follows the approval of a Special Resolution passed in the company’s General Meeting. As per the Companies Act, 2017, PHDL aims to complete its winding-up proceedings by…
Like many, I was dismayed last week to see the news of Bedford Group headed for voluntary administration. As an organisation with an 80-year history providing support for 1400 people with disability across South Australia, the hole this would create in the lives of the people they support and their families was unlikely to be…
The National Company Law Appellate Tribunal (NCLAT) has formally closed the Corporate Insolvency Resolution Process (CIRP) of Grand Reality Pvt. Ltd., after confirming that the construction of the real estate project was completed and possession handed over to all homebuyers. The case reflects a rare but growing judicial trend where tribunals step in to ensure…