The National Company Law Tribunal (NCLT) on Tuesday postponed the insolvency case of Bhushan Power & Steel Ltd (BPSL) to May 30, when it is likely to issue directions on a petition submitted by former promoter Sanjay Singal. This comes following a request by Solicitor General Tushar Mehta, who represents the union government and various…
Menhaden PLC to make first cash distribution post-liquidation By Investing.com Investing.com India Read the original article here
Menhaden PLC to make first cash distribution post-liquidation Investing.com Read the original article here
The Institute of Chartered Accountants of India (ICAI) has proposed a series of strategic reforms to strengthen the Insolvency and Bankruptcy Code (IBC), 2016, emphasising the need for stricter adherence to timelines and improved value realization in the Corporate Insolvency Resolution Process (CIRP). In its latest study, ICAI highlighted that while the IBC has significantly…
New Delhi: The National Company Law Tribunal (NCLT) on Tuesday deferred the Bhushan Power & Steel Ltd (BPSL) insolvency case to 30 May, when it is expected to issue directions on a plea filed by former promoter Sanjay Singal. Singal’s plea seeks enforcement of the Supreme Court’s 2 May ruling, which ₹19,700 crore resolution plan”>quashed…
Powerlong Commercial Management Announces Rescheduled Liquidation Hearing TipRanks Read the original article here
A construction company has collapsed with creditors owed millions of dollars for projects across Victoria, NSW and Queensland. Kenik was wound up in Queensland’s Supreme Court earlier this year after another business launched legal action against the Melbourne-based company. Kenik, which had been in the property and construction industry for more than 25 years, now owes…
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Ant Anstead’s Radford Motors files to amend bankruptcy status Ant Anstead’s supercar company, Radford Motors, has filed for Chapter 7 bankruptcy. The shift comes after a court hearing on May 8, converting his company’s previous Chapter 11 bankruptcy to Chapter 7, People Magazine reported. Chapter 7 bankruptcy marks an escalation in the company’s financial troubles…
If harsh haircuts on bankrupt assets weren’t bad enough, India’s lenders must now be going bald with worry. A recent court order has raised the unpleasant prospect of having to return the money new owners paid them to settle the unpaid loans of insolvent firms — years later.The nation’s nine-year-old insolvency code has struggled with…