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Australia’s property sector troubles have deepened, putting the future of the country’s tallest residential development in question, after developer Beulah
Mobility startup Rapido on Tuesday announced its first-ever Employee Stock Ownership Plan (ESOP) liquidation programme for current and former employees.
Katie Price will have one of her two bankruptcies dropped.
Once thought to have a net worth of £40m, the former glamour model has been declared bankrupt for the second time in March last year over an unpaid tax bill of £761,994.05. The mum-of-five, 46, was first declared bankrupt in 2019.
The news one of her two bankruptcies will be left was decided at a specialist bankruptcy court in London on Tuesday but the reality TV star was not in attendance.
Katie Price with her boyfriend JJ Slater, who found fame on Married At First Sight UK. (Getty)
What we know
Price was due to be quizzed over her finances at a hearing known as a public examination.
Bankruptcy orders typically end after a year in England and Wales but the automatic discharge of…
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Australia’s property sector troubles have deepened, putting the future of the country’s tallest residential development in question, after developer Beulah International put the project manager of its high-profile Sth Bank project into voluntary administration.
Pitcher Partners’ David Vasudevan and Lindsay Bainbridge were appointed administrators of BSSPV Pty Ltd after architecture firms Cox Architecture and UN Studio – designers of the $2.7 billion twin-tower project in Melbourne – lodged wind-up orders against it.
Mobility startup Rapido on Tuesday announced its first-ever Employee Stock Ownership Plan (ESOP) liquidation programme for current and former employees. Through this initiative, employees are eligible to sell a portion of their vested ESOP units immediately.
The move by the company is aimed at enhancing employee satisfaction and retention while fostering a culture of shared success and growth within the organisation, according to a release.
“This programme is generating 5X growth while underscoring Rapido’s commitment to recognising and rewarding the contributions of its employees…while providing wealth creation opportunities,” it said.
The ESOP buyback programme saw participation from both current and former employees of Rapido,…
New Delhi, Feb 11 (PTI) Mobility startup Rapido on Tuesday announced its first-ever Employee Stock Ownership Plan (ESOP) liquidation programme for current and former employees.
Through this initiative, employees are eligible to sell a portion of their vested ESOP units immediately.
The move by the company is aimed at enhancing employee satisfaction and retention while fostering a culture of shared success and growth within the organisation, according to a release.
“This programme is generating 5X growth while underscoring Rapido’s commitment to recognising and rewarding the contributions of its employees…while…
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The National Company Law Tribunal (NCLT), Delhi, has held that a petitioner cannot initiate the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) if the business arrangement between the parties involves joint participation and profit-sharing rather than a straightforward operational debt. The Tribunal ruled that such an arrangement does not establish a debtor-creditor relationship under the IBC.
A bench of Mahendra Khandelwal, Member (Judicial), and Dr. Sanjeev Ranjan, Member (Technical), held, “Had there been the relation of the Operational Creditor and the Corporate Debtor between the parties, there would have been no provision for the ‘profit sharing’ amongst them, as the…
The National Company Law Tribunal (NCLT) on Monday directed the Board of Control for Cricket in India (BCCI) to submit its application to withdraw the insolvency plea it had filed against Think & Learn Private Limited, the parent company of ed-tech giant Byju’s. The move comes as part of the ongoing legal dispute between the two parties.
The NCLT bench, consisting of Judicial Member K Biswal and Technical Member Ravichandran Ramaswamy, disposed of the application and instructed BCCI to submit the withdrawal request to the company’s Committee of Creditors (CoC). The bench further clarified that it is now the responsibility of the CoC to decide on the request to withdraw the corporate insolvency resolution process (CIRP) against…