Canadian department store chain Hudson’s Bay Company has revealed plans to initiate a full liquidation of its business as it failed to obtain the necessary…

Ola Electric Share Price NSE: Shares of Ola Electric Mobility Limited fell over 7 percent during the intraday trade on Monday. Osmertasmerta Digital Services Limited, a vehicle registration service provider, sought to initiate insolvency proceedings against its wholly-owned subsidiary Ola Electric Technologies Private Limited.

The electric mobility company’s stock fell around 7.5 per cent to hit a new 52-week and all-time low of Rs 46.75 on the NSE till 12:45 pm. On the BSE, Ola electric share price fell to hit a new 52-week low of Rs 46.85, trading below Rs 50 mark for the first time.

Insolvency Filled Against Ola Electric

An operational creditor has filed a petition before the Bengaluru bench of the National Company…

The Appeal filed by the operational creditors was dismissed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi (NCLAT), which is composed of Justice Yogesh Khanna (Member (Judicial) and Mr. Ajai Das Mehrotra (Member (Technical)) since there was an existing dispute between the corporate debtor and the operational creditor.

The National Company Law Tribunal (NCLT), New Delhi, issued a judgment that is the subject of this appeal. It permits M/s Ambassador Logistics Pvt. Ltd. (Corporate Debtor) to participate in the Corporate Insolvency Resolution Process (CIRP)…

Spring is in the air, but many people are still suffering the winter blues when it comes to their finances.

Some are still paying off their Christmas spending or reeling from the impact of a January tax bill. Inflation may have fallen, but we’re all feeling the pinch of higher prices, with the elevated cost of living now firmly baked into the system.

Sadly, there is no monetary thaw in sight, with higher national insurance coming into effect on 1st April, energy prices set to rise and another ‘Fiscal Event’ on 26th March which could mean even higher taxes for some.

Given the economic environment, it’s no surprise that, as a nation, we have been taking on more unsecured debt.

Unsecured…

The struggling fashion chain has drafted in advisers to oversee a process of liquidation, according to documents seen by The Sun.

It is understood the chain will have shut 35 shops by 14 March after trimming down its store estate since the start of the year.

The retailer entered into a company voluntary arrangement (CVA) last year, overseen by restructuring specialist firm Moorfields. But Moorfields has now been tasked with liquidating the business, The Sun reported.

Last month, Quiz Clothing closed 23 stores and cut 200 jobs in a pre-pack administration. It attributed the decision to “the continuing challenging trading conditions” which impacted the group’s performance.

The petition has been submitted before the NCLT’s Bengaluru Bench, alleging default in payment towards the services rendered by the operational creditor.

Shares of Ola Electric Mobility Ltd tanked over 7 per cent on Monday morning after the firm said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly-owned arm Ola Electric Technologies Pvt Ltd.

The stock slumped 7.12 per cent to hit a 52-week low of ₹46.94 on the BSE.

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