Category Archives: Liquidation

₹74.49 Lakh Security Deposit Adjusted Under Master Lease Agreement After Insolvency: NCLAT Terms Transaction Fraudulent but Rejects S.66 Application [Read Order]

In a recent ruling, the National Company Law Appellate Tribunal (NCLAT) upheld findings that the adjustment of a ₹74.49 lakh security deposit under a Master Lease Agreement (MLA) was a fraudulent transaction; the Tribunal declined to order recovery under Section 66 of the Insolvency and Bankruptcy Code (IBC). The appeals arose from an order dated 04 June 2024 of the NCLT Mumbai Bench, which had rejected the Resolution Professional’s…

BTG Consulting snaps up online liquidation site – TheBusinessDesk.com

BTG Consulting snaps up online liquidation site  TheBusinessDesk.com Read the original article here

COVID‑19 Stay and Canara Bank’s Objection on CIRP Delays Not a Bar: NCLT Approves ₹17.25 Crore Resolution Plan with ₹3 Crore Working Capital Infusion [Read Order]

The National Company Law Tribunal (NCLT), Bengaluru Bench, has upheld the ₹17.25 crore resolution plan for Dunlop Polymers Private Limited, ruling that the COVID‑19‑related stay and Canara Bank’s objection over delays in the Corporate Insolvency Resolution Process (CIRP) did not bar its approval. The corporate debtor, Dunlop Polymers Pvt. Ltd., was admitted into the Corporate Insolvency Resolution Process (CIRP) on 25 June 2019 under…

UK furniture brand collapses into liquidation with £1.4million debt

The award-winning UK furniture brand that sells high end furniture for thousands has collapsed into liquidation owing £1.4million in debt as a liquidator has been appointed Beloved UK furniture brand collapses into liquidation owing £1.4million after more than a decade Pure White Lines specialises in furniture, lighting and home décor An award-winning UK furniture brand…

JR Dixon family on story behind Workington firm liquidation

J R Dixon Limited, based at Joseph Noble Road, Lillyhall, formally entered a Creditors’ Voluntary Liquidation last month, with documents showing an estimated deficiency of more than £339,000. But Helen Clarke, wife of managing director Phil Clarke, said the figures did not tell the full story of a family business which had spanned almost 54…

Jaiprakash Associates Clarifies Financial Results Filing Window Amidst CIRP

Jaiprakash Associates Ltd (JAL) is utilizing a 120-day period for submitting its financial results for the year ended March 31, 2026. This follows an inquiry from the National Stock Exchange (NSE) on June 01, 2026, regarding the non-submission of these results. What just happened The company management informed the NSE that it is leveraging Regulation…

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[Withdrawn] Corporate Insolvency and Governance Bill receives royal assent

Updates to this page Published 26 June 2020 Last updated 6 April 2021 + show all updates 6 April 2021 The automatic extensions granted by the Corporate Insolvency and Governance Act have now come to an end. 1 July 2020 Link added to guidance for private companies and other company types on the changes that…

Auckland meat firm collapses owing $5.3m, director declared bankrupt – BusinessDesk | NZ

Auckland meat firm collapses owing $5.3m, director declared bankrupt  BusinessDesk | NZ Read the original article here

Dashdot founder speaks on British Virgin Islands share transfer

The founder of collapsed property buyers agency Dashdot has responded to concerns about a transaction that transferred nearly all of its shares to an entity based in the British Virgin Islands two years ago. Dashdot fell into creditor’s voluntary liquidation last week, with founder Glenn “Goose” McGrath blaming a combination of economic headwinds, looming tax…