The committee of creditors to Gitanjali Gems, promoted by fugutive Mehul Choksi, has decided to liquidate the company to recover 12,558 crore it owes to 31 banks and financial institutions. Choksi along with diamantaire Nirav Modi, are on the run since early last year after they misused credit facilities of banks and defaulted on loan…
New Delhi: Opening up a new window for promoters looking to retain control of their companies facing bankruptcy proceedings, the National Company Law Appellate Tribunal (NCLAT) has held that shareholders and owners can reach a settlement with creditors when their entity is under liquidation and an official liquidator has been appointed by the insolvency court.…
Notice along with Agenda and Notes to Agenda for the 8th Meeting of the Committee of Creditors of Southern Online Bio Technologies Limited (under Corporate Insolvency Resolution Process) under the provisions of The Insolvency and Bankruptcy code, 2016 read with Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Day…
This is in reference to the captioned subject. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we would like to bring to your notice that the 13th meeting of the Committee of Creditors (CoC) of Uttam Value Steels Limited (the Company) was held on April 9, 2019 to discuss the…
Disclosure of List of Creditors of SRS Limited displayed under Regulation 13(2)(c) of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 pursuant to Regulation 30 read with Clause 16(e) of Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2018 Pdf Link: SRS LTD. – Corporate Insolvency…
Another Auckland construction business has gone into liquidation, sparking a dispute over work in Ponsonby, but an ex-director of the builder says no money is owed. Companies Office records show BHSSR, previously called MR8 Construction, went into voluntary liquidation today, in the hands of Waterstone Insolvency. “Established with 25 years of industry experience, MR8 Construction…
Of the total admitted claims of Rs 1.42 trillion in the 88 companies that have undergone successful Corporate Insolvency Resolution Process (CIRP), about Rs 68,766 crore has been realised by the claimants, including operational and financial creditors, an affidavit by the Insolvency and Bankruptcy Board of India (IBBI) shows. The said…
A winding up application for Nawi Island Limited has been filed in the Suva High Court. Filed by PricewaterhouseCoopers, the application for winding up was made on March 4th. The case will be heard in the Suva High Court on May 1st. Article continues after advertisement The winding up of a company (also known as…
Two years after the much-touted Insolvency and Bankruptcy Code 2016 (IBC) was implemented, slow progress of cases is becoming a cause for concern. High profile, large accounts such as that of Essar Steel, which has been undergoing resolution for over 600 days, bring to the fore the grave issue of excessive delays in the process.…
Potential new home owners have been left out of pocket or facing delays as home builder Mega Homes faces a push to wind up the company. Creditors in the building industry are claiming to be owed sums as high as $480,000 each by the builder, Victorian Supreme Court filings show. It follows the liquidation two…