ED arrests Richa Industries promoter for cheating banks, laundering assets during firm’s insolvency Times of India Read the original article here
Belrise Buys Aerospace Assets in French Liquidation to Accelerate Defence Push TipRanks Read the original article here
A bid by green entrepreneur Dale Vince to create a zero-emission regional carrier has ended without the would-be operator ever getting off the ground, following the appointment of provisional liquidators to Ecojet Airlines. Unveiled in 2023 with the strapline “the airline for a Green Britain”, Ecojet struggled from the outset, repeatedly pushing back deadlines for…
Belrise Industries Acquires Aerospace Equipment Worth Euro 350,000 Through French Court Liquidation Process scanx.trade Read the original article here
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Women’s specialty chain Francesca’s is preparing to shut down. According to one source, the retailer’s merchants were “let go yesterday with no warning.” And one of the chain’s former buyers indicated that Francesca’s intends to liquidate all goods. When contacted for comment, a customer service representative wrote in an email on Thursday that “we are…
NEW DELHI: Indian investigators say a once-prominent textile and infrastructure company was hollowed out from within, its books manipulated and assets diverted as lenders watched their exposure collapse. At the center of the case is a former promoter now in custody, accused of orchestrating a complex web of shell companies and forged transactions in…
R3 North East warns businesses owners to stay vigilant as corporate insolvency levels remain high northumberlandgazette.co.uk Read the original article here
FGIL was admitted into CIRP in August 2018 on an application filed by a former employee. During the resolution process, Gloster Limited emerged as the successful resolution applicant, with its plan receiving over 72% approval from the committee of creditors. However, during the pendency of the plan approval, Gloster Cables Limited filed an application under…
The Supreme Court has held that the National Company Law Tribunal (NCLT) cannot assume jurisdiction under Section 60(5)(c) of the Insolvency and Bankruptcy Code (IBC) to declare the title of a disputed asset in favor of a Successful Resolution Applicant (SRA) when the Resolution Plan itself acknowledges the existence of rival claims. The Bench of…