Their initial reports to creditors and shareholders were published on Friday.

Te Puke-based Glenn Meikle was the sole director of the three companies at the time of the liquidations.

The Juicy Festival report said Meikle told liquidators the company’s inability to obtain a liquor licence made it “unviable” for the festival to go ahead.

He told them cancelling “meant the company forfeited a large amount of money paid to host the events, and to artists, leaving the company unable to repay ticketholders and other creditors”.

This led to the liquidation decision.

Meikle also advised the failures of the two Timeless companies were caused by “a related…

Shares of Ola Electric Mobility Limited tumbled 7.23 per cent, or Rs 3.65, on Monday, hitting a record low of Rs 46.86 on the National Stock Exchange (NSE).

With this drop, Ola Electric’s stock fell below the Rs 50 mark for the first time. The company’s shares have now fallen 37 per cent from its issue price of Rs 76 per share and is down 70 per cent from its post-listing high of Rs 157.

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Over the past month alone, the stock has declined by 18 per cent. The sharp decline came after the company disclosed that an insolvency petition had been filed against its wholly-owned subsidiary, Ola Electric Technologies, by Rosmerta Digital Services.

In a filing over the weekend, the company confirmed…

Shares of food delivery giant Zomato gained sharply during the trading session even as it may face an insolvency plea after one of its operational creditors moved the National Company Law Tribunal (NCLT).

It has come to light that Nona Lifestyle Private Limited has moved the law tribunal to restore an insolvency plea that it had filed earlier against Zomato under Section 9 of the Insolvency and Bankruptcy Code (IBC) in 2024.

Despite the insolvency plea, Zomato shares have not been impacted. In fact, they were trading 6.13% higher at Rs 216.35 on the Bombay Stock Exchange (BSE) at 2:42 pm. It had earlier reached an intraday high of Rs 216.50.

As far as the Zomato stock is concerned, it is up over 4% in the past five trading sessions, down…

Shares of food delivery giant Zomato gained sharply during the trading session even as it may face an insolvency plea after one of its operational creditors moved the National Company Law Tribunal (NCLT).

It has come to light that Nona Lifestyle Private Limited has moved the law tribunal to restore an insolvency plea that it had filed earlier against Zomato under Section 9 of the Insolvency and Bankruptcy Code (IBC) in 2024.

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Despite the insolvency plea, Zomato shares have not been impacted. In fact, they were trading 6.13% higher at Rs 216.35 on the Bombay Stock Exchange (BSE) at 2:42 pm. It had earlier reached an intraday high of Rs 216.50.

As far as the Zomato stock is concerned, it is up over 4% in the past five trading…

Council Tax bills across Scotland are set to rise next month.

Scottish Government funding will allow a scheme set up to help those struggling with Council Tax debts to be expanded nationwide. An additional £2.2 million is being provided to Citizens Advice Scotland to roll out the scheme – which is currently being run in nine local authority areas – across the country.

It comes after local government leaders announced a series of inflation busting increases to Council Tax bills with Falkirk Council imposing a 15.6 per cent rise, the highest in Scotland. The scheme promotes what is described as a “dignified and empathetic approach to debt collection”, with more than 1,600 people…