A Delhi court has extended the judicial custody of former Reliance Communications executive Gautam Doshi by 14 days. This follows an Enforcement Directorate investigation into the alleged diversion of Rs 40,000 crore in loan funds. The case highlights ongoing regulatory scrutiny regarding the financial operations of the former Reliance ADA Group companies. What Happened The…
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The National Company Law Appellate Tribunal (NCLAT) has upheld a key relief to former Jet Airways employees, ruling that their provident fund, pension and gratuity dues must be paid in full and kept outside the liquidation pool from which other creditors, including banks, will be paid. [State Bank of India and Ors. v. Manoj Kumar…
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The National Company Law Appellate Tribunal (NCLAT) has recently upheld the initiation of corporate insolvency proceedings against butter and ghee manufacturer and trader Jhandewalas Foods Limited. It held that the company’s defence of a pre-existing dispute over unpaid dues was not supported by credible evidence and could not prevent the insolvency process. A bench of…
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Stratus Properties (NASDAQ:STRS) Gains After Liquidation Update Kalkine Media Read the original article here
Australian shoe retailer Betts has announced it will close 20 of its 35 retail stores as part of a massive restructure, after the business entered voluntary administration last week. The company behind the Australian school shoe has made the decision to run as an online store, transitioning away from physical retail. The fifth generation family-owned…
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