The government of KwaZulu-Natal has announced plans to prevent the liquidation of Tongaat Hulett after the historic sugar producer filed for liquidation last week, IOL reported. Premier Thamsanqa Ntuli said efforts are under way to rescue the 134-year-old company in order to protect about 2,500 direct jobs and support thousands of small-scale sugarcane growers who…
Creditors can pursue simultaneous insolvency proceedings against both debtors, guarantors ETLegalWorld.com Read the original article here
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Bombay High Court: While hearing an application under Section 466 of the Companies Act, 1956 (Companies Act), a Single Judge Bench of Sharmila U. Deshmukh, J., declined to stay the winding up of Swadeshi Mills Company Ltd. (Swadeshi Mills). The Court reiterated that revival schemes must meet the triple test of bona fides, commercial morality,…
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Supreme Court Upholds Sarda Energy’s ₹19.5 Billion Resolution Plan for SKS Power scanx.trade Read the original article here