The National Company Law Tribunal at Chennai has admitted an insolvency petition filed by Wootu Nutrition Private Limited, a Chennai-based chain of diet and nutrition clinics, initiating the Corporate Insolvency Resolution Process against the company. A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam held: “This Tribunal is satisfied that there is…
The recent High Court Annual Report demonstrates a continuing increase in insolvency proceedings. The number of new insolvency proceedings continues to rise, with 2025 seeing an increase of 9.7% from the prior year. Since 2023, the majority of new insolvency proceedings have been filed in Auckland. The number of company liquidation applications filed has also…
Iconic UK stadium has collapsed into liquidation amid ‘new era’ Swindon Advertiser Read the original article here
REVEALED: Liquidator appointments for businesses in the Wyndham council area for September 4 heraldsun.com.au Read the original article here
Customers have been left out of pocket after a popular independent bike shop in the south of England ceased trading. Primera Sports, a family-run business in Bournemouth, closed suddenly last week after 34 years, with customers told their orders would not be fulfilled. When Cycling Weekly contacted Primera for comment, it received an automatic response…
Subhash Chandra: proposed 99.972% haircut, now stayed Claims: ₹22,006.57 crore | Proposed creditor payment: ₹6.25 crore Subhash Chandra’s case concerns his personal guarantees for loans taken by Essel Group companies, not the insolvency of a corporate borrower. His repayment plan proposed ₹6.25 crore for creditors and ₹25 lakh towards insolvency-process costs. The creditor payout amounted…
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The National Company Law Tribunal (NCLT), Chennai, has dismissed an insolvency petition seeking recovery of approximately ₹3.11 crore as an outcome-based professional fee for services rendered in GST proceedings. The Tribunal held that substantial disputes existed over the entitlement, enforceability and legal permissibility of the success-fee arrangement before the statutory insolvency demand notice was issued.…
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