Adding Inflated Interest To Outstanding Liability Merely To Cross Threshold U/S 4 Of IBC Is Not Permissible: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that the interest cannot be added to the outstanding liability when there is no contract between the parties to this effect and no past practice justifying…

Meetings and Events Australia to enter voluntary administration after 50 years of service

Australian industry association Meetings and Events Australia (MEA) has announced it will be entering Voluntary Administration after 50 years of service. The country’s longest-standing industry body for the events sector announced it will cease operations, and an administrator has been appointed. The announcement comes in the MEA’s 50th anniversary year. The MEA National Conference, due…