SUMMARY The SC bench quashed the NCLAT order that approved the settlement of the INR 158.9 Cr unpaid dues BYJU’S owed to the BCCI The order came as a result of Glas Trust Company, a consortium of the startup’s aggrieved US-based lenders, moving the SC to retrieve the dues owed to them by BYJU’S Appearing…
3 min read Last Updated : Aug 14 2024 | 4:57 PM IST The Insolvency and Bankruptcy Code (IBC) has seen successful resolution in 46 per cent of the cases admitted in the real estate sector as of June 2024, the latest data by the Insolvency and Bankruptcy Board of India (IBBI) showed. Of…
Regional airline Rex has entered voluntary administration. The union for aviation workers says 610 jobs have been lost. All Rex flights between major cities have been cancelled, but the carrier’s regional services will continue to operate. Voluntary administration means a company can’t afford to pay its debts, and has appointed an independent body to take…
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MALVERN, Pa., Aug. 14, 2024 (GLOBE NEWSWIRE) — Galera Therapeutics, Inc. (Nasdaq: GRTX), a clinical-stage biopharmaceutical company historically focused on developing a pipeline of novel, proprietary therapeutics that have the potential to transform radiotherapy in cancer, today announced that its Board of Directors has approved a Plan of Liquidation and Dissolution (Plan of Dissolution), which…
Rex airlines has cancelled all flights between major city airports and grounded its domestic fleet of Boeing 737 aircraft after going into voluntary administration. The airline company is still operating its regional Saab 340 services, but its flights between major city airports have been cancelled, impacting thousands of travellers across Australia. Virgin Australia has offered…
The shares of Coffee Day Enterprises Limited were trading at ₹46.49, down by ₹2.58 (5.26 per cent) on NSE at 2 pm on Friday. Also read: Coffee Day Enterprises Q1 profit at ₹23 cr On Thursday, Coffee Day Enterprises Limited (CDEL) disclosed that the National Company Law Tribunal (NCLT) in Bengaluru has admitted an application…
When Bonza took to the skies last year it was a dream come true for Nicole Toomey, who got her first-ever job in aviation as a part of the airline’s cabin crew. Then, when Bonza went into liquidation, the 53-year-old mum and grandmother was sure her aviation dreams had ended. “I was sold out for…
‘Dark day’: 610 sacked in company collapse news.com.au Read the original article here
The parent company of the Coffee Day Group, which runs the Cafe Coffee Day network of coffee shops, Coffee Day Enterprises(CDEL), has been ordered to begin insolvency proceedings by the Corporate Dispute Tribunal NCLT. On August 8, the IDBI Trusteeship Services (IDBITSL) case, which claimed a default of Rs. 228.45 crore, was accepted by the…