New Delhi: The government is working on an integrated platform for the insolvency ecosystem covering key stakeholders that will also help speed up resolution processes. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, aims to provide market-linked and time-bound resolution of stressed assets. However, there have been delays in the resolution…
New Delhi: The government is working on an integrated platform for the insolvency ecosystem covering key stakeholders that will also help speed up resolution processes. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, aims to provide market-linked and time-bound resolution of stressed assets. However, there have been delays in the resolution…
The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea initiated to begin insolvency proceedings against Amazon Wholesale (India). This decision upholds the earlier ruling by the National Company Law Tribunal (NCLT), which had denied the insolvency request submitted by Multiplier Brand Solutions. Multiplier Brand Solutions claimed a default of Rs 3.7 crore…
Alex Wong/Getty Images News Xiaodi Hou, the co-founder and former chief executive of TuSimple (OTC:TSPH) has sent a letter to the board, asking for immediate liquidation of the self-driving trucking company. Hou, who is the largest shareholder of the company, said it has been disappointing to Read the original article here
New Delhi, Nov 26 (PTI) The government is working on an integrated platform for the insolvency ecosystem covering key stakeholders that will also help speed up resolution processes. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, aims to provide market-linked and time-bound resolution of stressed assets. However, there have been delays…
The company, which delivered a series of projects across the West Country over more than three decades, recently entered creditors’ voluntary liquidation. Insolvency specialist Brailey Hicks has been brought in to manage the process, and all 12 ADG employees have been made redundant. Director Patrick Deigan said the practice, which was founded as the Architects…
Almanac has acquired the intellectual property and assets of Gro Intelligence. Gro Intelligence was developing the world’s largest agricultural data platform before its recent closure and business liquidation. In 2021, Almanac grew its crop management platform through the acquisitions of Agworld, Altrac…
Highlights As of September 30, 2024, a total of 40,943 cases have been filed in the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016. Creditors have realized 3.55 lakh crore under resolution plans, achieving 161.11% of the liquidation value and 86.13% of the fair value of the assets. The quarterly reports indicate…
SolarZero Limited, New Zealand’s biggest solar energy company, has announced its liquidation, citing unsustainable operating losses and liquidity constraints. The company, founded in the 1970s and recognised for its pioneering role in renewable energy, ceased operations from 4pm on Tuesday. The directors of SolarZero said the decision came after extensive efforts to explore restructuring options.…
Signs point to liquidation for troubled Mosaic The Australian Read the original article here