A bankruptcy court Friday allowed an application filed by the secured creditors of the Lavasa Corporation to restart a Corporate Insolvency Resolution Process (CIRP) for the company. The Mumbai bench of the National Company Law Tribunal (NCLT), while directing the revival process to be re-initiated, also directed the Committee of Creditors (CoC) to exclude the…
The Delhi High Court recently quashed criminal proceedings against Bhushan Power & Steel Limited (BPSL) in relation to a complaint filed by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002 (PMLA) in view of Section 32A of the Insolvency and Bankruptcy Code (IBC). Noting that BPSL underwent a successful resolution under…
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NEW DELHI: The Insolvency and Bankruptcy Board of India has amended rules to allow distressed homebuyers to take possession of their properties while the resolution process is ongoing. The amendments, notified on February 3, and effective immediately, aim to enhance efficiency in insolvency proceedings, particularly for real estate projects, by introducing measures such as appointing…
The case dates back to 2017, when the National Company Law Tribunal (NCLT) admitted an insolvency petition against BPSL filed by Punjab National Bank (PNB). During the CIRP, JSW Steel emerged as the successful resolution applicant, and its resolution plan was conditionally approved by the NCLT on September 5, 2019. However, prior to the resolution…
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CUSTOMERS have shared their devastation after a craft beer brand once stocked at Sainsbury’s has gone out of business. By the Horns has entered into liquidation, blaming the economy and rent hikes for some of the reasons for its collapse. 1 By the Horns has gone into administrationCredit: BY THE HORNS When a company goes…
A pub near Carlisle has confirmed that it has been taken over by a new management company in the midst of a temporary closure caused by Storm Eowyn. The Fleece at Ruleholme, which is located on the A689 near Brampton, announced on Tuesday, January 28 that it would be closed until Wednesday, April 2 to carry…
Keppel Completes Liquidation of Subsidiaries TipRanks Read the original article here
A notice published on the Australian Securities and Investments Commission shows administrators were appointed to Allens Dupont Logistics Pty Ltd, trading as Allens Freight, J & L Dupont Transport and Reading Dupont Logistics, on Tuesday, February 4, 2025. Read the original article here