NCLAT Rules in Favour of Embassy Developments, Sets Aside CIRP Admission and Closes Insolvency Proceedings scanx.trade Read the original article here
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New Delhi: Adani Group’s resolution plan for Jaiprakash Associates Limited (JAL) has received approval from the National Company Law Appellate Tribunal (NCLAT), which dismissed Vedanta’s appeal challenging the process. A Bench comprising Chairperson Justice (Retd.) Ashok Bhushan and Technical Member Barun Mitra upheld the earlier order of the National Company Law Tribunal (NCLT), and said…
New Delhi [India], May 4 : The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea filed by Vedanta in connection with the ongoing insolvency proceedings of Jaiprakash Associates Limited (JAL), bringing closure to a prolonged legal contest over the resolution process. While pronouncing its judgment, the appellate tribunal observed that it did not…
DALLAS, TX — The bright yellow planes that once defined budget travel in America are now permanently grounded. At 1:08 a.m. local time Saturday, May 2, 2026, Spirit Airlines flight NK1833 touched down at Dallas-Fort Worth International Airport from Detroit. It was the final commercial landing for a carrier that spent 34 years disrupting the…
A UK-based airline has abruptly ceased operations, cancelling all scheduled flights and entering liquidation after what insiders describe as ‘unsustainable fuel and operating costs’, leaving staff jobless and raising fresh concerns over the stability of the aviation sector with the ongoing fuel shortages due to the Iran war. The carrier, identified as Ascend Airways, halted…
Administrators have been appointed to a UK financial firm, an official notice has revealed. LCM Family Limited went into administration on April 28 after agreeing to a voluntary requirement with the Financial Conduct Authority (FCA). Louise Longley and Gary Shankland of BTG Begbies Traynor (Central) LLP were appointed as joint administrators of the firm, and…
The UK meat supplier company is facing a winding-up petition and has entered liquidation with an outstanding charge after being in business for a decade, it has been revealed 04:26, 04 May 2026Updated 04:26, 04 May 2026 The meat supplier has plunged into liquidation(Image: Getty Images) A UK meat supplier has plunged into liquidation after…
Image credit: Australian Made Australian mattress manufacturer A.H. Beard has entered voluntary administration, according to a statement from the company, drawing concern across Australia’s manufacturing sector as industry stakeholders point to broader manufacturing cost pressures and import competition affecting local production. In a media release, Australian Made Campaign Limited said the development is a significant…
The parent company of equity crowdfunding platform VentureCrowd has plunged into administration, with an initial meeting of creditors hearing claims of $7.3 million in outstanding debts. But cofounder and CEO Steve Maarbani has called the process a corporate debt restructure, with VentureCrowd’s operating subsidiaries and managed funds unaffected by the process. Launched in 2013, the Sydney-based…