Tour company goes into liquidation and cancels all trips

Between the significant changes in how travelers book trips and consumers who are watching discretionary spending more carefully, it is proving to be a particularly tough time to run a travel agency. Travel companies that collapsed in bankruptcy over the last year include British firms Great Little Escapes and Jetline, Swedish travel company MixxTravel and French…

Bankruptcy court admits BSE-listed Supha Pharmachem under Insolvency Resolution Process

The bankruptcy court in Mumbai has admitted the listed pharma firm, Supha Pharmachem (formerly Remedium Lifecare), to the Corporate Insolvency Resolution Process (CIRP) and has appointed Rajesh Jhunjhunwala as the interim resolution professional (IRP) of the company. Mumbai-based Supha Pharmachem’s operational creditor, Boston Ivy Healthcare Solution, had approached the National Company Law Tribunal (NCLT) after…

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