MUMBAI: Come December, banks will have to grapple with the ethical and financial dilemma of dealing with failed promoters who try to claw back control in troubled companies where they no longer call the shots by trying to outbid others in the race. Promoter shareholders who use shell companies or tie up with offshore funds…
KOLKATA: The National Company Law Tribunal (NCLT) has ordered corporate insolvency resolution process against Assam Company India for defaulting Rs 596 crore in payments to Srei Infrastructure. The company, into multifaceted activities ranging from tea plantation to oil and gas exploration, had guaranteed a Rs 100-crore loan taken by Gujarat Hydrocarbon & Power SEZ in…
Plan was to clear dues of Rs 55 cr, pump in Rs 35 cr to run the company Veena Mani | New Delhi Last Updated at November 4, 2017 01:47 IST … Read the full article at: http://www.business-standard.com/article/companies/ub-engineering-files-liquidation-plea-117110301060_1.html
So far, reservations have been raised mostly on the threshold of 1,000 default that can trigger insolvency proceedings Kolkata, November 3: The Centre is likely to introduce the first set of insolvency regulations relating to corporate guarantors and individual businesses that include proprietorships and firms, Ranjeeta Dubey, Deputy General Manager, Insolvency and Bankruptcy Board of…
The rules for individual insolvency under the Insolvency and Bankruptcy Code are likely to be notified by December. “It will come in a phased manner. At this point, we are trying to cover corporate guarantors. That is our main issue. In the first phase, we are dealing with corporate guarantors…
TWO of Perths dining institutions have been placed into voluntary administration. On Monday afternoon, administrators took over the company behind the Trustee Bar and Bistro on St Georges Terrace and Beaufort Local, which was formerly known as Beaufort Street Merchant. Business owner Scott Taylor said the decision was not taken lightly. There is still some…
Kolkata, Nov 3: The Centre is likely to introduce the first set of insolvency regulations relating to corporate guarantors and individual businesses that include proprietorships and firms, Ranjeeta Dubey, Deputy General Manager, Insolvency and Bankruptcy Board of India (IBBI), said. According to her, this will be the first phase of the regulations. Notification of rules…
BIPEP went into liquidation in July, leaving 700 investors nursing losses. New papers filed with the Companies Office show that Ultan McCarthy of McCarthy & Co in Dublin has been appointed liquidator of the separate firm Brendan Investments Property Management Ltd (BEPM), a related business with separate owners that was established to manage the funds…
AFTER allegedly being deceived out of more than $500,000 by a Coffs Harbour accountant, the owners of Arc Attack Engineering are back on track with a new company. Woolgoolga locals Warren and Sheenah Whitten have begun trading as Arc Attack Fabrication, thanking locals for their support as they get back on their feet with their…
BIPEP went into liquidation in July, leaving 700 investors nursing losses. New papers filed with the Companies Office show that Ultan McCarthy of McCarthy & Co in Dublin has been appointed liquidator of the separate firm Brendan Investments Property Management Ltd (BEPM), a related business with separate owners that was established to manage the funds…