The Insolvency and Bankruptcy Board of India (IBBI) has now mandated information utilities (IU) to use PAN or any other official document to verify the identity of users, who wish to seek information of corporate debtors. 

The IU, under the Insolvency and Bankruptcy Code (IBC), is required to maintain an electronic database of information of any CD, with respect to records of its debt, balance sheet and cash flow statement, assets etc. 

The IU allows its users (mainly creditors) to access real-time information of the CDs, to eliminate delays and disputes relating to claims and defaults. Earlier, the IBBI regulations didn’t make IUs to mandatorily verify the identity of its users.

Since the entire sharing of information and…

The Government of Ghana has successfully secured $2.86 billion in debt service relief after signing a Memorandum of Understanding (MoU) with its Official Creditors Committee (OCC).

The agreement, co-chaired by China and France, represents a crucial step in Ghana’s ongoing efforts to restructure its debt and build a sustainable financial future.

This development, announced by the Ministry of Finance on January 29, 2025, follows years of economic turbulence.

Back in December 2022, Ghana found itself in the depths of a financial crisis, prompting the government to suspend portions of its external debt servicing to commercial and bilateral lenders. At the time, inflation had surged to a staggering 54%, and the country’s international…

Meanwhile, both Adani Port and JSW Infrastructure have been spreading their businesses through acquisitions. Last year, JSW Infrastructure acquired a 70.37% shareholding in Mumbai-based Navkar Corporation for around Rs 1,012 crore, marking its entry into the logistics sector. Meanwhile, Adani Ports and Special Economic Zone (APSEZ), India’s largest private port operator, bought a majority stake in an offshore supply vessel firm, Astro Offshore, in a deal worth around Rs 1,551 crore.

Ghana has formally secured $2.8 billion in debt relief after all 25 members of its official creditor committee fully signed the Memorandum of Understanding (MOU) which was initially reached in principle under the G20 Common Framework for Debt Treatment.

This is expected to provide crucial fiscal breathing space as Ghana advances structural reforms under its $3 billion International Monetary Fund (IMF) programme.

“The Government of the Republic of Ghana is pleased to announce that the Memorandum of Understanding (MoU) reached with its Official Creditor Committee (OCC) has been signed by all Participating Creditor Countries”, Finance Minister, Dr. Cassiel Ato Forson, told the media in Accra on Wednesday January 29, 2025.

“The signing…

A $115,000 loss was forecast in the initial report.

The company has $127,000 in liabilities offset by only $11,000 in assets, which include cash of $777, fixed assets of $5000 and motor vehicles, the value of which is yet to be quantified.

Unsecured creditors are listed as being owed $100,000 and Inland Revenue $27,000.

Shareholders in the business are Toni Davies, Moet Investments, Aartisha Kumar, Steve Langton, Adonis Corre, Mihir Kakars, Ijemoa Ezumba, Beatrix Reisinger, Manish Goel, Aamir Gidwani, Micheal Mesane, Richard Crofts, Kayley Hastie-Hunt and Maxim Kaluzhny, the Waterstone report said.

The sole director is…