Insolvency Guardian Media Centre
Sections 8 and 9 of the IBC stated that an operational creditor can only initiate the CIRP process in the event of an uncontested debt and a payment default
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)…
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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…
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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.
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Mar 17, 2025 01:19 PM IST
The petition has been submitted before the NCLT’s Bengaluru Bench, alleging default in payment towards the services rendered by the operational creditor.
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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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INSCO’s Resolution Plan In Hindustan Glass insolvency Moves Forward BW Legal World
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Hudson’s Bay Company has signaled its readiness to take the next major step in its creditor protection and restructuring process, significantly reshaping Canada’s commercial retail real estate market and resulting in major job losses. On Friday, March 14, 2025, the Canadian department store retailer announced a “store-by-store liquidation process” would commence as soon as this week.
The company filed additional documents with the Ontario Superior Court of Justice indicating it has only secured limited debtor-in-possession financing, necessitating the “full liquidation of the entire business.” If the court order is received on Monday at the ‘comeback motion’, store liquidations will begin next week. According to…
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Ola Electric shares dropped sharply on Monday, falling nearly 7% in early trade. The stock slipped below Rs 50 for the first time, hitting a record low of Rs 46.94 on the Bombay Stock Exchange (BSE). By 10:54 am, it was trading at Rs 47.25, down 6.51%.
The decline came after Ola Electric disclosed that an insolvency petition had been filed against its subsidiary, Ola Electric Technologies.
The petition was submitted by Rosmerta Digital Services, an operational creditor, to the National Company Law Tribunal (NCLT) in Bengaluru.
The creditor alleged that Ola Electric had defaulted on payments for services and requested the initiation of the Corporate Insolvency Resolution Process (CIRP).
WHO IS ROSEMERTA DIGITAL SERVICES?
Rosmerta Digital…
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Ola Electric Share Prices Hit A 52-Week Low, Falling By 7
Ola Electric share prices have faced a significant downtrend, dropping 41.39% year-to-date (YTD). In the previous month, the price fell 21.34%. The stock’s three-month performance displayed weak performance as it declined by 46.13%, similarly, the stock dropped 54.71% in the last six months. On March 13, the stock ended 1.12% lower at Rs 50.54 on the Bombay Stock Exchange.
Insolvency Petition Filed By Rosmerta Digital
Rosmerta Digital is an operational creditor of Ola and has claimed that payment defaults occurred for services provided and has requested the commencement of a Corporate Insolvency Resolution Process (CIRP) against Ola Electric Technologies.
Ola Electric announced…
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A Forever 21 store: Not forever. (AP Photo/Wilfredo Lee)
Copyright 2019 The Associated Press. All rights reserved
Forever 21’s bankruptcy story is a stark lesson in the world of fast fashion. Founded in 1984 by Korean immigrants Jin Sook Chang and Do Won Chang, Forever 21 captured consumer attention with trend-sensitive apparel at highly competitive prices. The visionary behind this rapid rise was Jin Sook Chang, whose merchandising acumen drove the brand’s explosive growth.
Behind Forever 21’s Strategy
According to Mike Appel, CEO of Forever21 competitor Rue21 from 2017-2020, Mrs. Chang’s merchandising strategy was revolutionary in its simplicity: she…
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“We wish to inform you that a petition has been filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) by M/s. Rosmerta Digital Services Limited, an Operational Creditor of Ola Electric Technologies Private Limited, a wholly owned subsidiary of Ola Electric Mobility Limited (“the Company”),” the exchange filing read.
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Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.
This can be done through the following steps:
1. Open the settings menu by clicking the hamburger menu in the top right
2. Choose “App Settings” from the menu
3. Turn on the option “Links Open Externally” (This will use…