Nuvoco Vistas Corporation Ltd, the building materials division of the Nirma Group, on Monday (January 6) said it has emerged as the successful resolution applicant (SRA) in the corporate insolvency resolution process (CIRP) of Vadraj Cement Ltd (VCL). Company Value Change %Change The Committee of Creditors (CoC) has approved the resolution plan submitted by Nuvoco…
Nuvoco Vistas Corp Ltd has emerged victorious in the acquisition of Vadraj Cement Ltd, currently under corporate insolvency resolution. The Committee of Creditors has approved Nuvoco’s resolution plan, and a Letter of Intent has been issued. The acquisition will be managed through Vanya Corporation Pvt Ltd, a Nuvoco subsidiary. The company plans to finance…
Reading Time: minute By Susan Edmunds for RNZ Hamilton business Greenleaf Fresh is being put into voluntary administration, after what it says were “recent financial challenges” affecting the company’s operations, it announced in late December. Greenleaf Fresh is behind Greengrower, a vertical farm operation that received $3.5 million in public funding in 2023 for research.…
Adroit Pharmaceuticals Pvt. Ltd. Through Its Director Sanjay Kukreja Vs. Amit Poddar Resolution Professional & Ors., Company Appeal (AT) (Insolvency) No. 1274 of 2024 Super Floorings Pvt. Ltd. Vs. Napin Impex Ltd., Company Appeal (AT) (Insolvency) No. 1928 of 2024 & I.A. No.7115 of 2024 Mr. Tajinder Singh Bhathal vs. MRF Limited & Ors., Company…
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VAST Networks, once valued at over R1 billion, was shut down in 2019 after failing to turn a profit. Founded in 2014 as a joint venture between Dimension Data and Naspers, the company aimed to provide carrier-grade Wi-Fi across Southern Africa. Despite significant investment and expansion, VAST struggled to monetize its services. After unsuccessful sale…
The recent judgment by the National Company Law Appellate Tribunal (NCLAT) in NCC Ltd. v. Golden Jubilee Hotels Pvt. Ltd.1 sheds light on the treatment of operational creditors under the Insolvency and Bankruptcy Code, 2016 (IBC). This ruling emphasizes the evolving judicial perspective regarding the categorization and sub-classification of operational creditors, highlighting the need for…
PARIS, January 06, 2025–(BUSINESS WIRE)–Regulatory News: ACTICOR BIOTECH (FR0014005OJ5 – ALACT), a clinical stage biopharmaceutical company developing glenzocimab, an innovative drug for the treatment of cardiovascular emergencies, announced today that the Paris Commercial Court, has declared on January 2, the company in liquidation proceedings. The liquidator is Marc-Antoine Rey, SELARL BDR & Associés, 34 rue…
AS Tallink Takso plans to cease operations within the next month and will undergo liquidation. The company will immediately begin negotiations to terminate taxi service agreements and other contractual obligations. Contractual taxi services will continue until all obligations are fulfilled, while non-contractual clients will be serviced for the next month. As part of the liquidation process, 14…
Irish corporate insolvencies rose 16 per cent to their highest level in six years, though they came in below expectations as the fourth-quarter saw a drop off in company collapses, according to PwC. The Big Four accountancy firm said the total figure for 2024 was 852, which was well shy of its forecast that insolvencies…