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The NCLT Hyderabad bench of Sri Rajeev Bhardwaj (Judicial Member) and Sri Sanjay Puri (Technical Member) has affirmed that the decision to consolidate, or not, rests with the CoCs, who are not only better equipped to make such determinations but also have a vested interest in the outcome, and whose commercial wisdom is paramount in insolvency matters and beyond judicial review
Brief Facts
This application has been filed by the suspended director of M/s. Manjeera Retail Holdings Private Limited (MRHPL), which, along with its holding company, Manjeera Constructions Limited (MCL), is undergoing Corporate Insolvency Resolution Process (CIRP).
Both Corporate Debtors were admitted into CIRP by this Authority on 18.07.2023,…
SCOTTSDALE, Ariz., Dec. 2, 2024 /PRNewswire/ — As the year-end approaches, Grasons, a leader in estate sale and business liquidation services and member of Evive Brands, highlights the important role of estate sales in helping individuals and businesses close one chapter and prepare for the next. From personal estate transitions to business liquidations, Grasons offers comprehensive solutions to meet diverse needs, including a recent high-profile liquidation for an antique business in Brunswick, OH.
Estate sales provide a valuable service for individuals preparing a home for sale, managing an estate, or…
We have been keeping professionals in the telecoms industry up-to-date since 2000. Telecompaper is a well respected, independent research and publishing company focussed on the telecommunications industry.
In other relief measures, eight state-run banks and financial institutions have restructured 94 billion baht in debt owed by 740,000 flood-hit borrowers.
– The GSB has introduced a debt moratorium for small borrowers and SMEs while lowering interest rates.
– The Bank for Agriculture and Agricultural Cooperatives has extended repayment periods, suspended repayments for farmers, and exempted them from penalty interest.
– The Export-Import Bank of Thailand has rolled over loans for exporters and importers.
– The SME Bank has suspended repayments and approved emergency loans to rehabilitate flood-affected businesses.
Somalia has finalized a debt relief agreement with France totaling $145.6 million, marking another significant milestone in the country’s economic recovery efforts.
Somalia’s Finance Minister Bihi Iman Ege signed the agreement with French Ambassador Arnaud Suquet, building on recent debt relief successes.
Last month, Somalia achieved notable debt relief agreements with key international partners, including the United States, which held the largest portion of the country’s debt, as well as Japan and Denmark. The latest French agreement further solidifies Somalia’s progress in economic rehabilitation.
The debt relief comes after Somalia’s successful completion of the Heavily…
Raashid Khan forged four documents to prevent restrictions being placed on his business bank account and to avoid having to pay a company £75,000 for fireworks
Khan also secured a maximum-value Covid Bounce Back Loan just weeks before his business was liquidated and fraudulently withdrew more than £60,000 after his company had been wound-up by the High Court
Insolvency Service investigations have resulted in the 29-year-old being sentenced to four years in prison
The director of a Birmingham-based fireworks retailer has been jailed after forging documents, fraudulently obtaining a Covid loan and removing more than £60,000 in company money.
Raashid Khan was the director of Ikandy Wholesale…
Raashid Khan forged four documents to prevent restrictions being placed on his business bank account and to avoid having to pay a company £75,000 for fireworks
Khan also secured a maximum-value Covid Bounce Back Loan just weeks before his business was liquidated and fraudulently withdrew more than £60,000 after his company had been wound-up by the High Court
Insolvency Service investigations have resulted in the 29-year-old being sentenced to four years in prison
The director of a Birmingham-based fireworks retailer has been jailed after forging documents, fraudulently obtaining a Covid loan and removing more than £60,000 in company money.
Raashid Khan was the director of Ikandy Wholesale Ltd, which traded in bulk goods, including…
The NCLAT Chennai bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Ajai Das Mehrotra (Technical Member) has held that pre-CIRP dues cannot be recovered once the corporate debtor is admitted into insolvency due to moratorium under section 14 of the code. Any amount due to the corporate debtor can be recovered by filing claims before the IRP/RP as the case may be.
Brief Facts
The present appeal has been filed by the Central Transmission Utility of India Limited (earlier Power Grid Corporation of India) against an order passed by NCLT Hyderabad.
KSK Mahanadi Power Company Limited (hereinafter called the ‘Corporate Debtor or CD’) is a company engaged in business of power generation. The Corporate Debtor was …
