Closed companies cost State $60M in Budget 2027

Liquidation

In the past 25 years, dif­fer­ent ad­min­is­tra­tions in Gov­ern­ment have set up spe­cial pur­pose com­pa­nies- ac­cord­ing to their state­ments- to shut­ter debt, to fa­cil­i­tate and fast-track in­vest­ment or to cre­ate ve­hi­cles for de­liv­ery dur­ing their tenure. But sev­er­al have been closed, and some sad­dled with bil­lions in debt be­cause of cor­rup­tion and mis­man­age­ment, in ad­di­tion…

NCLT Ahmedabad Dissolves Captivate Foods After Finding No Traceable Assets Despite Pending Tax Dues

Liquidation

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 8 October ordered the dissolution of Captivate Foods Private Limited after finding that its assets were untraceable and no assets were available for realization and distribution. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr. V. G. Venkata Chalapathy passed the order…

Fast Fuel Meals collapses with $20m in creditor claims

Liquidation

Australian ready-made meal business, Fast Fuel Meals, has entered voluntary administration, with more than $20 million in creditor claims outstanding as the company considers a potential change of ownership. The Sydney-based business, which has supplied ready-made meals through major supermarket chains including Woolworths and IGA, appointed Dane Skinner of Raft Consulting as administrator on 8…