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New Delhi, Mar 12 (PTI) Jaiprakash Associates Ltd, which is undergoing an insolvency process, on Wednesday said that a consortium of lenders has transferred their outstanding loans to National Asset Reconstruction Company Ltd (NARCL). Jaiprakash Associates Ltd (JAL) in a regulatory filing informed that the consortium of lenders of the company have “assigned/transferred their outstanding debt/financial assets along with underlying securities interest, pledge of shares, guarantees, receivables etc. charged for financial assistance granted by them to JAL in favour of NARCL”. As per the filing, the consortium comprises SBI, ICICI Bank, IDBI Bank, Axis Bank, LIC, Canara Bank, Bank of Maharashtra, IFCI, PNB, UCO Bank, South…
ALOR SETAR, March 12 — The Malaysian Fire and Rescue Department has taken disciplinary action against 13 of its firefighters who have been declared bankrupt since 2020.
Its director-general, Datuk Nor Hisham Mohammad said several factors led them to be declared bankrupt, mostly for becoming guarantors to loan borrowers.
“There is also one (staff) whose name is in a company. When the company had problems, like being taken action for not subscribing to the Employees Provident Fund (EPF), he was also affected.
“Another is due to credit card debts,” he told reporters after the presentation of the Fire Service Medal, the 2024 Excellent Service Award (APC) and the 30-Year Service Certificate here…
Liquidators are set to be called in to wind up the firm behind the now-closed St Giles Centre in Elgin.
Official records confirm that the St Giles Shopping Centre Limited’s sole director, 82-year-old Aviemore businessman David Cameron, applied to have the company wound up on February 28.
Liquidators have been called in to the St Giles Centre…Picture: Daniel Forsyth
Details of a petition requesting the appointment of liquidators were published in the Edinburgh Gazette on Wednesday, March 19.
The petition is currently before Inverness Sheriff Court, with creditors given until today to submit their interests in the company.
Mr Cameron is being represented by Gordon Hollerin of Glasgow law firm Harper Macleod LLP.
The debt assignment marks a crucial step in addressing one of India’s longest-running corporate debt resolutions. JAL, classified as a non-performing asset since 2016, was admitted to insolvency proceedings last year. The Rs 12,000-crore transaction involves a State Bank of India-led consortium of 25 lenders, including major public and private sector banks and financial institutions.
Under the terms of the deal, NARCL’s offer involves a 23% recovery for lenders, split into a 15% upfront cash payment and 85% in government-guaranteed security receipts—a structure unique to NARCL. As a result, banks will receive approximately Rs 1,800 crore in cash, with the remaining value dependent on future recoveries through the Insolvency and…
All nine employees at Walleys Quarry landfill site have been laid off following the collapse of its operator.
Walleys Quarry Ltd (WQL) entered voluntary liquidation last month, three months after the controversial Silverdale landfill site was issued with a closure notice.
Michael Denny and Jonathan Marston, both of Brighton-based Alvarez & Marsal Europe LLP, have been appointed the joint liquidators.
They say they are providing support to WQL’s laid-off employees and working with the EA and other partners to support ‘an orderly transition of the site’.
The liquidators said: “On 28 February 2025, Mike Denny and Jonny Marston were appointed as Joint Liquidators of Walleys Quarry Limited. This follows the closure notice…
Since its inception, the National Law Institute University’s Centre for Business and Commercial Laws(CBCL), has been recognised as a “Centre of Excellence”. Constituted in 2008, the Centre is dedicated to fostering research and promoting awareness of Indian business and commercial laws. The flagship event of CBCL, the NLIU-Trilegal Summit on Corporate and Commercial Laws, is a culmination of the efforts of the Centre towards research and publication in business laws. The Summit has grown into one of the most prestigious corporate law events in the law school circuit over the past nine years. The upcoming 10th edition, being hosted this year, saw an overwhelming response from law students across the country, with numerous…
Hertfordshire based Rodells has been trading since 1898 when it was founded by Leonard Rodell as a steeple-jacking company.
The company operates a large scaffolding operation from its yard in London Colney offering scaffolding services for large commercial and industrial jobs across the country.
It also has a specialist access works division based in St Albans.
Latest results for Rodells for the year to March 31 2024 show the company employed 56 staff.
Data and credit checking specialist Red Flag Alert highlighted the firms’ administration notice with its regular checks of high court construction insolvency applications. Subscribers to the Red Flag Alert service benefit from early warnings about the financial health…
