Insolvency Guardian Media Centre
Delhi-based Katra Realtors was a corporate guarantor to listed real estate developer Ansal Properties and Infrastructure (Ansal API), which is also currently undergoing an insolvency resolution process.
Ansal API has admitted liabilities of more than Rs 571 crore, while IL&FS Financial Services had approached the tribunal against Katra Realtors for its corporate guarantee towards Ansal API of about Rs 23 crore.
The division bench of judicial member Manni Sankariah Shanmuga Sundaram and technical member Atul Chaturvedi observed in its…
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The Robertson Trust has awarded Money Advice Scotland £30,000 per annum for three years to develop the core of its work and create a more financially resilient Scotland.
As the national umbrella organisation for the free money and debt advice sector, Money Advice Scotland represents advisers, supports best practice, and campaigns for systems that support financial wellbeing and protect those in financial difficulty. The funding awarded by The Robertson Trust will enable the organisation to further develop its work in prevention, trauma-informed practice and follow-up.
Chief executive of Money Advice Scotland, Janine Rennie, said: “As Scotland’s money charity our mission is…
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Students, rejoice! This week, Australians have started having their HECS-HELP debts slashed in the nation’s largest-ever student debt cut. In total, 3 million Aussies will have 20 per cent of their debt wiped, adding up to a massive $16 billion.
The Australian Taxation Office (ATO) began sending out text and email notifications on Saturday, November 22, alerting 100,000 Australians that their debt had been reduced. Another 1.5 million will receive the same message this week, with a further 1.5 million set to be notified the following week.
How much will my student debt be cut by?
With the average HECS debt around $27,600, the average reduction will be around $5,520. You can use the government’s estimator tool to see your exact…
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The technical outcomes of insolvency, settling debts, distributing funds, etc, are only part of the story. For Adrian, the most rewarding moments come when he sees the personal impact of his work.
He recalls a business owner who had been under immense pressure as his company went into liquidation. Several months later, Adrian happened to see him again. “He was a different man, lighter, happier, full of energy. The insolvency process gave him
closure. He’d moved on personally and professionally, and the relief was written all over his face. That human transformation isn’t captured on a balance sheet and because we usually part ways once the job is done, moments like this are a rare reminder of the lasting, positive impact RSM can…
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The Supreme Court has conditionally ordered the quashing of all criminal proceedings against the fugitive Sandesara brothers in the multi-crore Sterling Biotech bank fraud case. The relief is strictly contingent upon the brothers depositing ₹5,100 crore as a ‘full and final payment’ to the lender banks by December 17, 2025.
A Bench led by JK Maheshwari reasoned that if the public money is returned to the lenders via this one-time settlement (OTS), the continuation of criminal proceedings would be pointless.
Key financial details & conditions
- Settlement Amount: The Sandesara brothers must deposit ₹5,100 crore with the Supreme Court Registry by December 17, 2025. The money will be held in a short-term,…
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This masthead previously revealed D’Souza had assumed control of the committee after a dispute led to the previous president, vice-president and secretary resigning in August.
After the new committee removed the entire staff team, parents refused to send their kids to the kindy because they were concerned with the unfamiliarity of temporary staff.
In Sunday’s long email, the committee, led by D’Souza, accused staff and parents of contributing to the kindy’s downfall.
“We had every intention of keeping the kindergarten open,” it says.
“Relief staff were arranged at the recommendation of the agency by the C&K group, but parents chose to keep their children at home.
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“If parents truly wanted it to work, you could have…
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Long-established family tool hire, sale and repair business goes into liquidation Insider Media Ltd
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Reform swept into local government last May. A heady night gave the insurgent populist right party control of ten councils and a plurality in several more. Nigel Farage’s acolytes promised to cut down on wasteful “DEI” spending, keep council tax down and establish a UK version of Elon Musk’s notorious Doge.
However, the reality of government is somewhat different. As I’ve written before, local government finance in the UK is fundamentally broken. Decades of underinvestment and degrading of services alongside rising demand for social care have pushed several councils over the edge into bankruptcy, although often…
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