The tribunal found that the corporate debtor has no assets, the CIRP Period only implies zero returns with avoidable costs such as liquidator’s fee, public notice etc The National Company Law Appellate Tribunal (NCLAT) in New Delhi has ruled that the CoC’s decision to liquidate the corporate debtor cannot be criticized once it becomes evident…
FLINT, Mich. (WJRT) – A family-owned hardware store in Flint has closed after 86 years of being in business. Knobloch Hardware on Lewis Street has permanently closed its doors. On Wednesday afternoon, the business held a liquidation auction, which included all merchandise and store fixtures. Workers say they are disappointed to see the shop leave…
The Madras High Court bench comprising Justice S.S. Sundar and Justice P. Dhanabal has held that the proviso to Section 10-A of the Insolvency and Bankruptcy Code (IBC) does not extend to cases where the default continues beyond the moratorium period. The court noted that Section 10-A only imposes a moratorium temporarily suspending the initiation…
A longstanding WA agricultural lobby group has entered voluntary administration a week after revealing “serious financial misconduct” had been detected within the organisation. The Pastoralists and Graziers Association appointed RSM Australia Partners Jerome Mohen and Greg Dudley as voluntary administrators at a board meeting on Thursday afternoon. Mr Mohen said the lobby group made the…
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The report urges the introduction of insolvency and bankruptcy reform to improve operational efficiencies to speed up the resolution process The Economic Survey 2024-25 was tabled in the Parliament today (January 31, 2025) after President Droupadi Murmu’s address commencing the Budget Session. The report urges the introduction of insolvency and bankruptcy reform to improve operational…
Go First acquisition: NCLAT asks Busy Bee Airways to negotiate deal with lenders Mint Read the original article here
A LARGE industrial site previously owned by a long-running coach-building business near Colchester has hit the market for £8.5million. Centre Park, a warehouse site, in Main Road, Frating, has been listed on Rightmove for £8,500,000 by property firm Fenn Wright. The site is roughly the size of three football pitches, with almost 56,000 sq ft of…
Mumbai: A diverse group of companies including Adani Ports and Special Economic Zone, JSW Infrastructure, Horizon Industrial Parks and Transindia Real Estate Ltd have shown interest in acquiring listed supply chain and logistics infrastructure firm Arshiya Ltd, which is undergoing a corporate insolvency resolution process.Investors such as Authum Investment & Infrastructure Ltd, Dickey Alternative Investment…
RBI Initiates Insolvency Proceedings Against Aviom India Housing Finance BW Businessworld Read the original article here