The Supreme Court on Wednesday (February 18) reaffirmed that the remedy under Section 7 of the Insolvency & Bankruptcy Code (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) is not discretionary but mandatory, leaving the adjudicating authority with no option but to admit the application once the existence of a debt and a default…
Taking Stock: Nifty below 25,500 as market ends 3-day winning streak; Sensex tumbles 1,236 pts More than 140 stocks touched their 52-week low, including Brainbees Solutions, C. E. Info, LT Technology, Clean Science, Just Dial, Vedant Fashions, Info Edge, Jyothy Labs, Inox Wind, Ola Electric, KEC International, NCC, Cello World, among others. Read the original…
REVEALED: Latest business liquidations in Monash Herald Sun Read the original article here
Ashok Leyland Completes Voluntary Liquidation of West Africa Subsidiary scanx.trade Read the original article here
Court’s decision The Supreme Court of India dismissed the appeal filed by Power Trust, promoter of Hiranmaye Energy Ltd., and upheld the admission of a Section 7 application under the Insolvency and Bankruptcy Code, 2016 against the corporate debtor. The Court held that the default occurred on 31 March 2018, well before the Covid-era suspension…
Keppel Completes Voluntary Liquidation of Third Dragon Holdings Subsidiary TipRanks Read the original article here
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The protracted wind-down of SunPower is approaching its final stages. Having completed a major restructuring in 2024, the remaining corporate entity now functions solely to manage the liquidation plan and resolve outstanding legal matters. A key question remains for market participants: what ultimate recovery can the company’s creditors expect? This transition effectively ends SunPower’s operational…
A liquidator has been appointed to Specialist Haulage Hire following a successful petition from HMRC for the Sandyford Place-based company to be wound up. The petition was presented to Glasgow Sheriff Court by the Advocate General for Scotland for the Commissioners for HMRC “to order that Specialist Haulage Hire Ltd be wound up by the…
Law On Feb 18, 2026 Roseland-based law firm Connell Foley LLP had launched its new Corporate Restructuring & Bankruptcy practice with the addition of Partners Robert K. Malone and Brett S. Theisen as co-chairs, along with Partners Katharina Earle, Dale E. Barney and Mark Conlan. As part of the new practice, Connell Foley has opened…