Ola Electric Mobility Ltd. shares plummeted almost 8 per cent on Monday, touching a new all-time low of Rs 46.51 each. The fall followed after an insolvency petition was filed by Rosmerta Digital Services Pvt. Ltd., an Ola Electric vendor, against the EV maker’s subsidiary for non-payment of dues. The petition, filed before the National…
Canadian department store chain Hudson’s Bay Company has revealed plans to initiate a full liquidation of its business as it failed to obtain the necessary funding to proceed with a restructuring plan. The company, with a workforce of 9,364, has stated in the filings submitted to the Ontario Superior Court of Justice that it has…
Ola Electric Share Prices Hit A 52-Week Low, Falling By 7% As Insolvency Petitions Surface MSN Read the original article here
Banks wrote off bad loans worth Rs 16.35 lakh crore in last 10 years Deccan Herald Read the original article here
The struggling fashion chain has drafted in advisers to oversee a process of liquidation, according to documents seen by The Sun. It is understood the chain will have shut 35 shops by 14 March after trimming down its store estate since the start of the year. The retailer entered into a company voluntary arrangement (CVA)…
EV stock under ₹50 crashes 8% amid insolvency proceedings against its subsidiary Trade Brains Read the original article here
Carlow firm Swan Fruit Limited once had a turnover of €40m but was placed into voluntary liquidation in 2014, owing more than €2m to creditors Carlow firm Swan Fruit Limited once had a turnover of €40m but was placed into voluntary liquidation in 2014, owing more than €2m to creditors. The firm’s liquidator, insolvency expert…
Shares of Ola Electric Mobility Ltd. fell nearly 8% on Monday to hit fresh all-time low after Rosmerta Digital Services Pvt. Ltd., a vendor of the company, sought the initiation of insolvency proceedings against a wholly owned subsidiary of the electric two-wheeler maker over non-payment of dues. Rosmerta Digital Services, an operational creditor of Ola…
Hudson’s Bay Company operates 80 stores and TheBay.com. Credit: JHVEPhoto/Shutterstock. Canadian department store chain Hudson’s Bay Company has revealed plans to initiate a full liquidation of its business as it failed to obtain the necessary… Read the original article here
Sections 8 and 9 of the IBC stated that an operational creditor can only initiate the CIRP process in the event of an uncontested debt and a payment default The Appeal filed by the operational creditors was dismissed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi (NCLAT), which is composed of Justice…