Government plans to clamp down on directors who dissolve companies to avoid paying workers or pensions have been welcomed by insolvency practitioners in the North West. The proposals, which were announced on Sunday and represent the biggest changes to the corporate insolvency regime in almost 20 years, will also give struggling companies more time to…
HYDERABAD: The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Lanco Infratech, after the infrastructure firms committee of creditors rejected a revised resolution plan from Thriveni Earthmovers. The Hyderabad bench of NCLT headed by judicial member Ratakonda Murali appointed the companys resolution professional, Savan Godiavala, as liquidator. Lanco Infratech has consolidated debt…
Australian tax authorities are chasing food delivery company Foodora for unpaid tax and superannuation before it exits the country. The Australian Taxation Office and Revenue NSW started investigating Foodora’s tax obligations before the food delivery company went into voluntary administration earlier this month, having classified its food delivery riders as employees instead of independent contractors.…
The Hyderabad Bench of the National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Lanco Infratech Limited (LITL), the holding company of the Lanco group, having a consolidated debt of Rs 500 billion. The Bench has appointed resolution professional (RP) Savan Godiawala as the liquidator and directed him…
The Hyderabad bench of National Company Law Tribunal today ordered the liquidation of Lanco Infratech after the committee of creditors rejected the revised resolution plan submitted by Thriveni Earthmovers, a Tamil Nadu-based infra and mining firm. The bench headed by judicial member Ratakonda Murali in his orders appointed the interim resolution professional (IRP) Savan Godiavala…
The National Company Law Tribunal, Hyderabad, has ordered liquidation proceedings for Lanco Infratech Ltd. The NCLT Bench dismissed a petition filed by Power Mech Projects Ltd to consider a deadline extension to place a bid for Lanco Infratech. Ordering the appointment of Insolvency Resolution Professional (IRP) Savan Godiawala as the official liquidator, NCLT Member Ratakonda…
Appleton Papers has changed its company name to Appvion, Inc. to reflect the full scope of its business. (PRNewsFoto/Appvion, Inc.) Register, or Login to view the article Advertisement
Builder Hickory Group has put subsidiary H Buildings into voluntary administration just days before the subsidiary was due to face a $13 million tribunal claim to replace the combustible cladding on four residential buildings. While calling in the administrator halts the claim by the 133 owners of apartments in the development in Melbourne’s inner eastern Richmond against the…
This is to inform you that the Honble National Company Law Board, Kolkata Bench II, vide its order dated 21st August 2018 has passed the liquidation orders of Eastern Gases Limited under section 33 of the Insolvency and Bankruptcy Code, 2016. I, Kuldeep Verma having IP Registration No. IBBI/IPA-001/IP-P00014/2016-17/10038 have been appointed as Liquidator of…
Noble Group Ltd won approval on Monday from a majority of shareholders for a $3.5 billion debt restructuring plan that should ensure the survival of what was once Asia’s biggest commodity trader. Faced with the prospect of the company’s insolvency, shareholders reluctantly backed a debt-for-equity swap that will leave them with ownership of just 20…