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NCLAT overrules NCLT's liquidation order for Prabhat Technologies, citing natural justice violations in the case | Image Source: Wikipedia (Representative)
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Doha – Hassan Abkari, former Director General of Tanger Med Port Authority (TMPA), has liquidated the Spanish company that led to his dismissal.
Following the revelation of his business activities in Valencia, Abkari has dissolved New Port Consulting 2024, the firm he established in one of Tanger Med’s competitor port cities.
According to Economia Digital, which originally exposed Abkari’s controversial business venture on February 20, the former port executive has now completely shut down the company that caused his fall from power.
The Spanish media outlet was the first to reveal that Abkari had founded this consulting firm on January 13 while serving as the head of Morocco’s flagship port.
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NCLAT overrules NCLT’s liquidation order for Prabhat Technologies, citing natural justice violations in the case | Image Source: Wikipedia (Representative)
Mumbai: The National Company Law Appellate Tribunal (NCLAT) has set aside an order of the Mumbai bench of the National Company Law Tribunal (NCLT) that had directed liquidation of Prabhat Technologies (India) Ltd. The appellate tribunal observed that the NCLT passed the order without giving the resolution applicants an opportunity to be heard, thus violating principles of natural justice.
The appeals were filed by Essar (India) Ltd and a group of three individual applicants, including Mr. Parag Malde, who had submitted a…
NCLT’s move reportedly came after a request was filed by Solicitor General Tushar Mehta, seeking restraint from issuing any directives. Mehta, who is representing the union government and other stakeholders, requested the NLCT bench to permit the former BPSL promoter to first identify and implead all necessary parties before the hearing is formally started. He highlighted that stakeholders are mulling various legal options in response to the apex court’s May 2 ruling, including seeking a fresh Corporate Insolvency Resolution Process (CIRP) for BPSL.
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has dismissed an insolvency petition against PepsiCo India Holdings after observing that provisions of IBC cannot be turned into a debt-recovery proceeding.The appellate insolvency tribunal has upheld the earlier order passed by the Chandigarh bench of the National Company Law Tribunal (NCLT), which had rejected SNJ Synthetics’s plea.“The adjudicating authority (NCLT) has not committed any infirmity in not allowing the CIRP of the corporate debtor (PepsiCo) to be initiated solely on the basis of the claim of the contested and unsubstantiated interest component,” said a three-member NCLAT bench.The NCLAT held that SNJ’s insolvency petition, filed under Section 9 of IBC as…
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Bradley Wiggins revealed his son Ben’s fears he would be found dead in the morning as the British cycling legend opened up about his addiction to cocaine.
The Tour de France champion and five-time Olympic gold medallist revealed earlier this year that he had struggled with a drug addiction following his retirement from the sport in 2016.
Wiggins has now admitted he had become a ‘functioning addict’ and had been doing ‘s***loads of cocaine’.
The 45-year-old explained how his children Isabella and Ben, who is part of the British Cycling set-up, had tried to put him into rehab having become concerned over his addiction.
‘There were times my son thought I was going to be found dead in the morning,’ Wiggins told the Observer. ‘I was a…
There are a few debt relief strategies that could be the financial life preserver you’re looking for now, experts say.
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Economic factors, like inflation and potential tariffs, have put financial pressure on Americans, forcing many to turn to credit cards for help. Credit card balances are now at record highs, and with average credit card interest rates nearing 22%, that debt comes with costly consequences. As a result, this type of debt can be overwhelming, to say the least, and even making the minimum monthly…
COSTA MESA, Calif., May 13, 2025 (GLOBE NEWSWIRE) — While some Americans are struggling with unmanageable debt, they are finding many ways to cope, including limiting their use of credit cards and sticking to a rigid budget. A survey from Experian found that U.S. adults describe unmanageable debt as constant stress and a choice between paying off debt and covering basic necessities.
The good news is that many U.S. adults report conquering debt they once thought was unmanageable, including credit card and medical debt, as well as personal and student loans. Approximately 36% of U.S. adults who have overcome such debt took on an additional job or side hustle, about 26% utilized the snowball method (prioritizing smaller debts…
