A Perth-based startup with an app promising cheap international money transfers has been put into liquidation. The Federal Court was told that Bux Global raised at least $65 million. Evidence was given to the court that cash raised went to fund the private expenses of those associated with the startup and that the app didnt…
Sears said Monday that it will close 142 more stores, part of its plans to file for Chapter 11 bankruptcy. Massive liquidation sales will start at the stores soon, the company said. Sears has closed hundreds of stores already in an effort to stay afloat, including 46 which are due to close next month. The…
Dear Sir/ Madam, Sub: Notice of Third Meeting of Committee of Creditors (CoC) of Uttam Value Steels Limited (Corporate Debtor) Pursuant to the provisions of Regulation 30 [Schedule III, Part A, Clause A (16) (g)] of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you…
The Hyderabad High Court suspended the corporate insolvency resolution process against Madhucon Projects Ltd, a construction-cum-infrastructure company. TheCourt suspended the order passed by the National Company Law Tribunal (NCLT), Hyderabad bench, initiating corporate insolvency proceedings, with Rakesh R Rathi as the Interim Resolution Professional (IRP). On a petition moved by Madhucon Projects challenging the initiation…
By Amitabh Kant & Richa Roy The Insolvency and Bankruptcy Code (IBC), 2016, is among the most crucial structural reforms undertaken by this government. Yet, for IBC to be effective, the principles at the heart of the legislation must be respected. First, there has to be timely outcomes within 180 days (270 days for rare,…
Intimation of liquidation process and appointment of Liquidator in the matter of M/S Jinprabhu Infrastructure Developments Limited (Formerly CRB Share Custodian Services Limited) This is to inform you that Pursuant under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations2015, in respect of application for liquidation under Section 33(l)(a) of the Insolvency and Bankruptcy…
The Thirteenth meeting of the Committee of Creditors of the Corporate Debtor was held on 27 September 2018 at 11:00 AM at Orion Room, The Learning Galaxy. 8 th Floor, Iconic Wing, Urmi Estate, 95, Lower Parel (West), Mumbai 400013, India. The outcome is enclosed in the letter. Pdf Link: Ramsarup Industries Ltd. – Corporate…
The Twelfth meeting of the CoC of the Corporate Debtor was held on 20 September 2018 at 03:30 PM at 16t Floor, Tower 2, Grant Thornton India LLP, Indiabulls Finance Center, SB Marg, Elphinstone (W), 400013.The outcome of the meeting is summarized as herein below:1. The RP and his legal advisors apprised the COC about…
WORD ON THE STREET Charity fun runs across the country have been cancelled without warning after the company behind it went into liquidation, leaving hundreds of women who purchased tickets fuming. The Miss Muddy events, run by Events Move, is described as Australias most popular female muddy fun run with a range of fun obstacles…
Home-grown electronics retailer Newstead Technologies, which owns brands such as nbox, Digital Style, and @notebook.com is currently in liquidation. A listing onthe Accounting and Corporate Regulatory Authoritys (ACRA) Business Filing Portal indicated that the companys status wasin liquidation creditors voluntary winding up. According to The Straits Times, this refers to the process in which a…