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Soaring interest payments are squeezing budgets, forcing governments to choose between repaying creditors and funding essential services. https://datawrapper.dwcdn.net/zQqap/full.png" alt="">Developing countries
The National Company Law Tribunal (NCLT) in Ahmedabad has initiated corporate insolvency resolution processes (CIRP) for Gensol Engineering Limited (GEL)
Nathan and Felicity Cowan announced on social media that Billson’s would continue. Photo: Facebook. Beechworth’s iconic drinks brand Billson’s Beverages
Lamar Odom’s career and life were marked by a series of controversies that often left many hesitant to stand by him. He carried an unfiltered openness about his battles — addiction, loss, near-death experiences. And for years, it seemed the public watched his unraveling like a slow-motion car crash.
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But in the eye of that storm, there was one bond he held sacred. One friendship he was grateful to keep, even when most others faded.
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Soaring interest payments are squeezing budgets, forcing governments to choose between repaying creditors and funding essential services.
Developing countries are sinking deeper into a debt-driven development crisis. Their external debt – money owed to foreign creditors – has quadrupled in two decades to a record $11.4 trillion in 2023, equivalent to 99% of their export earnings.
A mix of factors has fuelled this surge, including increased borrowing for development projects, volatile commodity prices, and widening public deficits. The COVID-19 pandemic worsened the situation, as countries borrowed heavily to offset the economic fallout and…
The National Company Law Tribunal (NCLT) in Ahmedabad has initiated corporate insolvency resolution processes (CIRP) for Gensol Engineering Limited (GEL) and its subsidiary, Gensol EV Lease (GEVL), following petitions filed by the Indian Renewable Energy Development Agency (Ireda). The tribunal admitted the petitions due to significant outstanding dues, amounting to over ₹729 crore combined. This development comes amid allegations of financial misconduct involving the company’s promoters, raising concerns about the management of funds and corporate governance.
Insolvency Proceedings Against Gensol Engineering
The NCLT has accepted Ireda’s petition against Gensol Engineering for defaulting on dues totaling ₹510.10 crore….
The National Company Law Tribunal (NCLT) in Ahmedabad has admitted Gensol Engineering Limited (GEL) and its subsidiary, Gensol EV Lease (GEVL), into insolvency proceedings following a petition by the Indian Renewable Energy Development Agency (IREDA). The tribunal’s decision, delivered on June 13, comes after Gensol defaulted on loans amounting to ₹510 crore for GEL and ₹218.95 crore for GEVL. This development marks a significant turn for the renewable energy and electric vehicle company, which has faced mounting regulatory and financial challenges in recent months.
IREDA’s Insolvency Plea and Tribunal’s Order:
IREDA, a government-backed lender specializing in renewable energy projects, approached the NCLT seeking redress for…
Nathan and Felicity Cowan announced on social media that Billson’s would continue. Photo: Facebook.
Beechworth’s iconic drinks brand Billson’s Beverages Pty Ltd looks set to avoid liquidation after creditors voted to keep the battling brewery alive.
“After an uncertain year, we are thrilled to share that we have made significant progress in securing the future of Billson’s and our historic brewery in Beechworth,” declared the husband-and-wife team behind the popular premix drinks brand in a social media post.
Nathan and Felicity Cowan were forced to put the company into administration in July citing “incomprehensible” challenges and “mistakes made along the way”.
