Pursuant to Reg. 30(2) read with sub- cl. 16(f) of Cl. A of Part A of Sch. III of the SEBI (LODR) Regulations, 2015 and in continuation to our earlier disclosure on 16.05.2019 reg. outcome of the 3rd meeting of the Committee of Creditors (COC), whereby COC had resolved to replace the Interim Resolution Professional(IRP)…
The National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by ICICI Bank against Hyderabad Ring Road Projects, observing that there was “duplicacy of the claims” of the private lender. A two-member bench headed by President Justice M M Kumar said ICICI Bank has already raised the similar claims against its corporate guarantor…
New Delhi, May 27 The National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by ICICI Bank against Hyderabad Ring Road Projects, observing that there was “duplicacy of the claims” of the private lender. A two-member bench headed by President Justice M M Kumar said ICICI Bank has already raised the similar claims…
Three years ago, the government passed a consolidated framework for insolvency and bankruptcy. The objectives of the code were clearresolution of corporate entities, partnership firms and individuals in a time-bound manner for: Maximisation of value of assets. Promoting entrepreneurship, availability of credit. Balancing the interests of all stakeholders. But 30 months and 1,858 cases later,…
Adelaide Monday May 27, 2019 Council court battle looms over North Adelaide college expansion SAs outdated abortion laws under review Touch Of The Fumbles: Department of Youth Tragic death a reminder to watch over the vulnerable Mini Raspberry Cupcakes EXCLUSIVE | A senior liquidator facing a complaint to ASIC … Read the full article at:…
The collapse of British Steel Limited, with the potential loss of at least 5,000 jobs, has once again exposed deep fault lines in the governments laissez-faire economic ideology and in Britains shareholder-centric model of corporate governance. The government clings to its do-nothing approach, justifying its rejection of financial support, a bailout or public ownership of…
Asset Backed Management Limited was wound up on 7 May 2019 by Judge Barton at the High Court in London following an investigation by the Insolvency Service. The Official Receiver has been appointed as liquidator. The court heard that Asset Backed Management, incorporated in January 2017, sold asset investment opportunities to members of the public,…
The U.K. High Court on Wednesday placed British Steel Ltd. into compulsory liquidation after the steel maker failed to obtain last-minute rescue funds from the government. The company, which employs more than 5,000 people, will continue operating while the governments Official Receiverthe liquidatorexplores options for the business, including a potential sale, according to a spokesman…
Liz Wells, May 23, 2019 THE financial position of Dalgrains has been clarified by Worrells Solvency & Forensic Accountants, with partner Adam Ward last week appointed as its liquidator, and the company this week advising Dalgrains records indicate it traded profitably for a number of years from its office in Dalby. It would appear that…
British Steel, the U.K.s second-largest steelmaker, has gone into liquidation, blaming uncertainty over Brexit for its demise. The British government is now in control of the company after declining to provide it with a 30 million pound bailout and the search for a buyer has already begun. British Steels private-equity owner, Greybull Capital, said its…