The National Company Law Tribunal (NCLT) at Bengaluru on Wednesday admitted a Karnataka government undertaking Cauvery Neeravari Nigam Limited into the Corporate Insolvency Resolution Process for a default of over Rs 9.36 crores. The bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada, while admitting an insolvency plea filed by project contractor……
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Last November, Arvida was sold to private equity firm Stonepeak. “As a result, they reviewed and cut costs, including the group of companies’ nationwide contract, meaning with the current structure of the business, it was not economic to continue,” Hunt of Insolvency Matters wrote in the initial liquidation report. That was posted to the Companies…
Federal Court finds Administrators personally liable for costs in delaying second meeting of creditors Corrs Chambers Westgarth Read the original article here