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Meanwhile, the BCCI argued that their application under Section 12A of the Insolvency and Bankruptcy Code (IBC) for withdrawal of the proceedings, must be heard first.
It contended that if the application for withdrawal were to be allowed, the other pleas filed by the creditors would not stand. In other words, the BCCI has contended that if the settlement between it and the former management of Byju’s is accepted, the order admitting the company to insolvency would go.
BCCI’s counsel, Senior Advocate CK Nandakumar further told the tribunal that the application for withdrawal will be filed shortly.
Senior Advocate KG Raghavan, appearing for Riju Raveendran (brother of Byju Raveendran), added that the Supreme Court’s direction was for the…
AGI Greenpac Ltd.’s resolution plan for the acquisition of insolvent Hindustan National Glass Ltd. is unsustainable and has to be set aside, the Supreme Court has held.
A three-judge bench of the top court comprising Justices Hrishikesh Roy, Sudhanshu Dhulia, and S.V.N Bhatti stated that any action that may have been taken after the resolution plan was approved by the committee of creditors will be nullified. “The approval by the committee of creditors has been set aside,” the top court said.
The court further stated that fresh resolution plans should now be considered for HNG’s acquisition.
At the heart of the matter lay the issue of interpretation of a particular provision, section 31(4), of the IBC.
The board of Downing Strategic Micro-Cap (DSM) has decided that “now is the appropriate time” for shareholders to vote on the potential voluntary liquidation of the company.
DSM initially decided to return capital to shareholders in 2023, following a “dispiriting time for micro-cap stocks”, with shares trading at a discount of between 15% and 1%. Ultimately, the board concluded a managed wind-down would be in the best interest of investors.
Since then, shareholders have received special dividends of 63.9p per share in aggregate, and the portfolio now holds just one listed investment in Centaur Media, alongside a secured loan note in Real Good Food and cash. Net asset value currently stands at £2.3m.
Bruno Mars speaks up about his wild gambling debt rumour
Bruno Mars broke his silence on viral past rumour that he racked up $50 million in gambling debt with MGM Resorts.
While making a reference to the old rumour with cryptic message, the Die With A Smile hitmaker took to Instagram Stories on Wednesday, January 29, to celebrate his success on Spotify, which declared him as the first-ever artist to garner a monthly total of at least 150 million listeners.
The 39-year-old singer while reposting Spotify’s announcement, wrote, “KEEP STREAMING.”
Bruno Mars shares a cryptic message after viral gambling debt rumour
Bruno, whose real name is Peter Gene Hernandez, then added, “I’ll be out of debt in…
Bruno Mars made a reference to a past rumor that he has a $50 million gambling debt with MGM Resorts in an Instagram Stories post Tuesday celebrating his success on Spotify.
The Grammy-winning artist, 39, reposted an announcement from the streaming service that he was the first-ever performer to garner a monthly total of at least 150 million listeners.
‘KEEP STREAMING,’ the Honolulu, Hawaii-born performer, whose full name is Peter Gene Hernandez, wrote on the post, which was accompanied by a dancing emoji. ‘I’ll be out of debt in no time.’
The Locked Out of Heaven vocalist spoke about his impressive streaming totals Tuesday as he inked an extension with MGM to play seven additional shows in his residency later this year in Las Vegas,
BZ Property Holdings Ltd, which bought the former Wolverhampton Eye Infirmary six years ago, has been given notice by the Registrar of Companies that it intends to place the company in liquidation within two months.
The action was taken after the company failed to submit its accounts by a deadline of October 31.
But director Zed Ahmed said this was an oversight by his accountants, and would be resolved next week.
The notice gave the company until March 14 to submit its accounts, with failure to comply resulting in the company being placed into liquidation and its assets seized by the Crown.
Celebrating the start of work on the redevelopment of the Wolverhampton Eye Infirmary in 2023 were Councillors Craig Collingswood, Stephen Simkins,…
Walsall-based chartered surveying company Kumar and Company is handling around 17 insolvency auctions in the wake of company failures over recent weeks and months, across a broad range of business sectors, they say.
The firm acts for insolvency practitioners, local authorities and private businesses across the UK.
Most recently the company says the liquidation of Coventry-based Quantum IT Distribution Ltd is amoung a “surge” of insolvencies which have ocurred as a result of additional pressures experienced over the festive period.
“It is among a surge in liquidations and insolvencies across the Midlands over recent months. We are handling some 17 cases, including businesses in the hospitality and food sector, manufacturers and IT…
