Dorset festival falls into liquidation and cancelled

Wilkswood Reggae Festival, which last year hosted its seventh event at Wilkswood Farm in Langton Matravers, will not return for 2025.  Bosses blamed the “current financial position” of the company for the reason why it has been placed into voluntary liquidation.  A statement from the festival said: “It is with deep regret that we must…

Reliance Capital exits insolvency as IndusInd-backed resolution plan gets final approvals

Reliance Capital Limited (RCL) has successfully exited insolvency after the implementation of its approved resolution plan, making it the first Non-Banking Financial Company-Core Investment Company (NBFC-CIC) to complete resolution under the Insolvency and Bankruptcy Code (IBC). The Reserve Bank of India (RBI) had superseded the company’s board and appointed Nageswara Rao Y as the administrator…

ACME Cleantech buys another Anil Ambani-promoted company

The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Manoj Kumar Upadhyay of ACME Cleantech for erstwhile Anil Ambani-promoted Reliance Infrastructure Consulting & Engineers Private Limited (Corporate Debtor). The Rs 1.05-crore plan, which was unanimously approved by the Committee of Creditors (CoC), aims to resolve the corporate…