A recruitment executive who was allowed to buy back the assets of his bust company in instalments, despite it accumulating almost £3m of debt, has placed his new business into liquidation after falling behind with promised payments to the administrator. The news is the latest event to raise questions about the practice of “phoenixism”, accounting’s…
India Power Schedules Sixth CoC Meeting as Insolvency Process Advances TipRanks Read the original article here
The story so far: The National Company Law Tribunal (NCLT) on August 25 approved a repayment plan for Essel Group founder Subhash Chandra under the Insolvency and Bankruptcy Code, 2016 (IBC). Under the plan, ₹6.25 crore will be paid to creditors and ₹25 lakh towards the insolvency resolution process costs. This is against admitted claims…
North Yorkshire hospitality and food company in liquidation owed almost £300,000 The York Press Read the original article here
The National Company Law Tribunal (NCLT) has approved a repayment plan in Zee Group founder Subhash Chandra’s personal insolvency case, letting him settle admitted claims of Rs 22,006 crore by paying just Rs 6.25 crore. The order has drawn sharply different reactions: dissenting lenders call the payout unviable, government sources say the widely reported haircut…
British corner shop chain enters liquidation with all UK stores to close – full list Manchester Evening News Read the original article here
Glass manufacturer Hindusthan National Glass and Industries Ltd (HNGIL) has initiated the insolvency process against B9 Beverages Ltd, the company behind Bira 91 beer, by issuing a demand notice over an alleged payment default of Rs 11.77 crore. The glass manufacturer has issued the notice under Section 8 of the Insolvency and Bankruptcy Code (IBC),…
New Delhi: Hindusthan National Glass and Industries Ltd (HNGIL) has served a default notice on B9 Beverages Ltd, the maker of the Bira 91 range of beer, as it plans to drag the debt-ridden brewer to the insolvency tribunal NCLT. HNGIL, a container glass manufacturer, has issued the notice under Section 8 of the Insolvency…
Hindusthan National Glass (HNGIL) has issued a default notice to Bira 91 (B9 Beverages) for Rs 11.77 crore over unlifted glass bottles, planning NCLT action. Key Points HNGIL issued a default notice to Bira 91 for Rs 11.77 crore over unlifted customized glass bottles. HNGIL plans to move the National Company Law Tribunal (NCLT) to…
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