NCLT allows withdrawal of insolvency proceedings against ATS Knightsbridge under section 12A

New Delhi [India], March 22 : The National Company Law Tribunal (NCLT), New Delhi Bench, has permitted the withdrawal of corporate insolvency resolution proceedings (CIRP) initiated against ATS Heights Private Limited, the developer of the ATS Knightsbridge project, in exercise of its powers under Section 12A of the Insolvency and Bankruptcy Code (IBC). The tribunal,…

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Virgin Australia forced into voluntary administration, as Deloitte says ‘there are no plans to make redundancies’

Virgin Australia has entered voluntary administration, leaving the jobs of at least 15,000 airline workers and connected supply chain workers under a cloud. Key points: Virgin Australia is now being run by Deloitte administrators, who will work with the company on paying off its debts Virgin Group founder Richard Branson has vowed that the airline…

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