In a determined effort to expedite insolvency resolutions, the Department of Financial Services Secretary M Nagaraju led a crucial review meeting on Monday. Officials from the DFS, heads of Public Sector Banks, and representatives from the Insolvency and Bankruptcy Board gathered to assess the progress of unresolved cases at the National Company Law Tribunal…
UK cargo company collapses leaving Evri parcels undelivered Oxford Mail Read the original article here
UK railway firm enters liquidation after 74 years with all operations stopped Stroud News and Journal Read the original article here
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A company which ruled over swathes of India has closed for a second time. The original East India Company was founded by Royal Charter in 1600 and continued until 1874 when it was dissolved by the British Government. In 2010, the company was revived by Indian entrepreneur, Sanjiv Mehta, who bought the rights to the…
HIRD Railway Services, which was founded back in 1952, had liquidators appointed on Friday, February 27. It is a supplier of specialist track-related products and services, including IBJs (Insulated Block Joints), heritage rail supplies, and network-approved new rails to the railway industry. HIRD Railway Services describes itself as an “innovative” provider of “industry-leading infrastructure solutions”.…
A British courier firm has formally gone into liquidation, leading to disruption for deliveries across its network. The development has resulted in delays for some Evri customers, with the parcel service issuing an apology for the inconvenience caused. Pedal and Post, the Oxford-based eco-friendly courier firm that pioneered bicycle deliveries in urban areas, has officially…
A major airline company has plunged into administration as it cancelled all its commercial flights. Royal Air Philippines has cancelled all of its commercial flights with over 3500 passengers affected. According to the reports, the Manila-based airline’s halt stranded roughly 3,000 to 4,000 passengers holding bookings from January through March, all seeking refunds and new…
The Delhi High Court has held that the mere fact that a cheque was drawn on the personal account of a director does not automatically absolve a company of liability under Section 138 of the Negotiable Instruments Act, 1881 (‘NI Act’) at the summoning stage. Justice Anup Jairam Bhambhani observed that if such a cheque…
If your company is struggling financially, your responsibilities as a director change in important ways. Insolvency law places strict duties on directors and failing to follow them can lead to personal liability, financial penalties, and disqualification. We covers what insolvency means, how your duties shift, and what steps you must take to stay compliant and…