The Mumbai Bench of the National Company Law Tribunal (NCLT) has ordered initiation of corporate insolvency resolution process (CIRP) against Essel Infraprojects Ltd on a petition filed by Jammu and Kashmir Bank over a default of Rs 87.43 crore. Essel Infraprojects is one of many Subhash Chandra companies facing insolvency process. The NCLT’s Court-V, in…
St Davids Distillery Limited was ordered to be wound up by the High Court on July 29 following a petition by HM Revenue and Customs (HMRC). The company, which is registered at Nine Wells in St Davids, is now being handled by the Official Receiver and a liquidator has been appointed. A winding-up petition is a legal…
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NCLT clarifies Subhash Chandra’s Rs 22,000 cr case is not a bank loan write-off, but claims against him as a personal guarantor for Essel Group. Key Points The NCLT order on Subhash Chandra’s repayment plan does not signify a Rs 22,000 crore bank loan write-off. The Rs 22,006 crore figure represents claims against Chandra as…
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With the controversy over Zee group founder Subhash Chandra’s Rs 6.5-crore repayment plan refusing to die down, MS Sahoo, former chairman of the Insolvency and Bankruptcy Board of India (IBBI), has said a repayment plan is inherently constrained by the guarantor’s resources, irrespective of the amount of the guarantee. Speaking to TNIE, Sahoo said the…
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Quant releases the Half Year report for January – June 2026. January-June Net sales for the period decreased to EUR 60.7 (65.2) million. Organically, net sales decreased by -7.9%. During the period, the contract portfolio value decreased by net EUR 2.3 million. Seven contracts were won; one contract was renewed and two were lost. Portfolio…
REVEALED: Liquidator appointments for businesses in the Brisbane council area for August 28 The Courier Mail Read the original article here