The National Company Law Tribunal’s (NCLT) Ahmedabad branch initiated insolvency proceedings against cab-hailing platform BluSmart Mobility over a plea filed by financial creditor Catalyst Trusteeship, for a loan default totalling Rs 1.3 crore. The Tribunal, comprising of Judicial Member Shammi Khan and Technical Member Sanjeev Kumar appointed NPV Insolvency Professionals Private Limited as the Interim…
NCLAT Dismisses Appeal, Grants Liberty to Seek Withdrawal of CIRP Under Section 12A; CoC Constitution Deferred for Two Weeks Taxscan Read the original article here
In a relief for JSW Steel Ltd, the Supreme Court on Tuesday agreed to hear a review petition in open court against its 2 May verdict quashing the company’s ₹19,350 crore acquisition of Bhushan Power and Steel Ltd and ordering BPSL’s liquidation. A bench led by Chief Justice B.R. Gavai and Justice Satish Chandra Sharma passed the…
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 list of Gensol-linked…
NCLT Admits Insolvency Plea against BluSmart Mobility Over Rs1.28 Crore Default Moneylife Read the original article here
BluSmart files for insolvency amidst mounting corporate governance challenges: Report YourStory.com Read the original article here
Auckland Mayor Wayne Brown’s chief of staff is being moved aside after a council inquiry found he should have alerted Brown and officials to his personal company going into liquidation owing IRD $560,000 in GST. From Tuesday, Jazz Singh will move temporarily to project work in the council chief of staff’s office to continue some…
Indian e-cab provider BluSmart enters insolvency amid corporate governance challenges Reuters Read the original article here
BluSmart Insolvency News: Electric Cab Firm Faces Proceedings Amid Fund Misuse Allegations Deccan Herald Read the original article here
The Enforcement Directorate (ED) has launched search operations at over 35 premises linked to companies and executives associated with Anil Ambani’s Reliance Group in connection with a suspected Rs 3,000 crore loan fraud and money laundering case. Reliance Power and Reliance Infrastructure issued a statement and said the ED raids relate to old cases involving…