The National Company Law Appellate Tribunal has reaffirmed that insolvency proceedings initiated by homebuyers against realty firms must remain confined to the specific project where default has occurred and cannot extend to other projects of the corporate debtor. The appellate tribunal highlighted that putting all other projects of the realty firms, which are unrelated to…
Merchant City Distributors Limited, based in Kelvin Industrial Estate, ceased trading and made all 18 of its employees redundant. The closure follows 25 years in business and has been blamed on “detrimental supply chain issues” that left the company with no viable future. James Stephen and Ben Peterson of BDO have been appointed as joint…
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Creditors to meet after major SA winery fails to find a buyer Stock Journal Read the original article here
A compact process proposed to speed up insolvency resolution can be initiated only by financial creditors having a combined share of at least 51% in debt, according to the draft regulations floated by the bankruptcy regulator. The defaulting firm in such cases must respond within 30 days to lenders’ notice seeking proceedings under the Creditor-initiated…
New Delhi: The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Videocon’s former chairman and MD Venugopal Dhoot for defaulting on loans of Rs 6,157.57 crore, as a personal guarantor of two group companies. Admitting a plea from State Bank of India (SBI), NCLT said Venugopal Dhoot has “committed defaults in…
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The promoter group of MBL Infrastructure Ltd., led by Anjanee Kumar Lakhotia, has acquired an additional 19,00,000 equity shares, equivalent to 1.23% of the company’s total paid-up capital. This transaction, finalized on April 14, 2026, was executed via a preferential allotment at Rs 10 per share. This move is a direct implementation of the company’s…
REVEALED: Latest business liquidations in Whitehorse Herald Sun Read the original article here
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