Addressing the Bangalore Chamber Of Industry And Commerce (BCIC), she said the government has taken several measures, including deferment of tax payment date, to help businesses and people.

“Not only the compliance but even the payments for the taxation related payment which companies have to do were all postponed so that nobody is put to difficulty,” Sitharaman, who also holds the corporate affairs portfolio, said.

As part of the ‘Aatmanirbhar Bharat’ package, the gov…

Read the full article at: https://www.livemint.com/news/india/govt-plans-to-extend-suspension-of-fresh-insolvency-proceedings-till-march-11608565340881.html

I do not care how many sports you add to the Olympics. Breakdancing sounds like fun. Sport climbing will also be great, as soon as I work out what that is. But there is a recurring theme whenever the Games roster is changed that we have to address.

That is the suggestion joking or otherwise that equestrian should be dropped.

This is not entirely academic. Earlier this year there was a risk Australia would not be able to field an equestrian team in Tokyo 2021. Equestrian Australia went into voluntary administration after Sport Australia pulled funding, citing governance concerns. It has since overhauled its constitution, installed new directors and new management, and got the Olympic program back on track.

Australian sport fans should be r…

Read the full article at: https://www.theguardian.com/sport/2020/dec/22/horses-for-courses-but-equestrian-should-not-be-dropped-from-olympics

The neo-Nazi organisation Pohjoinen perinne (or ‘Nordic Tradition’ in English), a registered association of the Nordic Resistance Movement (Finnish acronym PVL), has been declared bankrupt by Pirkanmaa District Court on Monday.

A request for bankruptcy was filed by lawyer Kaarle Gummerus, who was appointed as the association’s liquidator in mid-December.

Finlands Supreme Court upheld on appeal a decision to ban the neo-Nazi Nordic Resistance Movement in September.

According to the Supreme Court, the association operated in violation of the law and accepted principles of morality. In its ruling, the …

Read the full article at: https://yle.fi/uutiset/osasto/news/court_declares_neo-nazi_group_bankrupt/11710334

ROME, Dec 21 (Reuters) – Italian police said on Monday a man who ran a cryptocurrency exchange that was declared bankrupt last year is suspected of being responsible for a series of hacks that caused losses of 120 million euros ($146 million).

More than 230,000 people were defrauded by the cyber-theft of a cryptocurrency called Nano which was held by the company BitGrail, the postal police said in a statement.

It is the biggest cyber-financial attack in Italy and one of the biggest in the world, the police said.

For the first time in Italy and in Europe, we have documented fraudulent and rapacious conduct to the detriment of investors carried out entirely on IT platforms and via the use of virtual currencies.

Police…

Read the full article at: https://www.reuters.com/article/italy-cyber-cryptocurrency/italian-police-accuse-cryptocurrency-exchange-boss-of-huge-fraud-idUSL8N2J127X

Pakistan has secured a $1.7 billion debt relief agreement to help offset the financial headwinds sparked by the coronavirus pandemic, officials said Monday.

The deal, following months of negotiations with creditors, will provide a moratorium on debt payments for large swathes of the current fiscal year and help ease the cash-strapped country’s massive financial obligations.

“The Government of Pakistan has successfully negotiated and concluded rescheduling agreements with 19 bilateral creditors, including members of the Paris club,” the country’s ministry of economic affairs said in a statement.

The ministry went on to describe the deal as “timely” that will help save the “lives and livelihoods of millions”.

Pakistan’s economy was a…

Read the full article at: https://www.wionews.com/south-asia/pakistan-signs-17-billion-debt-relief-deal-351407

By AFP

ISLAMABAD:Pakistan has secured a $1.7 billion debt relief agreement to help offset the financial headwinds sparked by the coronavirus pandemic, officials said Monday.

The deal, following months of negotiations with creditors, will provide a moratorium on debt payments for large swathes of the current fiscal year and help ease the cash-strapped country’s massive financial obligations.

“The Government of Pakistan has successfully negotiated and concluded rescheduling agreements with 19 bilateral creditors, including members of the Paris club,” the country’s ministry of economic affairs said in a statement.

The ministry went on to describe the deal as “timely” that will help save the “lives and livelihoods of millions”.

Pakistan’…

Read the full article at: https://www.newindianexpress.com/world/2020/dec/21/pakistan-signs-usd-17-billion-debt-relief-deal-2239237.html

LONDON The breakup of Arcadia has begun with administrators Deloitte selling off the first brand from the bankrupt clothing group, Evans.

The plus-size brand, its ecommerce and wholesale businesses, have been sold for 23 million pounds to City Chic Collective Ltd., an omnichannel retailer that specializes in apparel, footwear, and lingerie in a wide range of sizes, plus accessories.

City Chic is listed on the Australian Stock Exchange and operates primarily as an online retailer in Australia, New Zealand and the U.S. It also has a store network in New Zealand and wholesale partnerships in the U.S., the U.K. and Europe.

In the U.S., it is the owner of the online intimates brand Hips & Curves.

Deloitte said Monday that City Chic would a…

Read the full article at: https://wwd.com/business-news/financial/australian-retailer-scoops-up-arcadias-plus-size-brand-evans-1234683954/

The Bankruptcy Law Reforms Committee, which proposed the IBC, noted that the most important objective in designing a legal framework for dealing with firm failure is the need for speed.

By Bibek Debroy & Aditya Sinha,

A few days ago, a woman in Bhopal moved a court because her father allegedly cheated in a Ludo game. The court asked them to resolve the family matter amicably. This may be unusual. But a lot of civil litigation can be resolved through mediation and conciliation, without approaching the court. The end-result, after going through adjudication and incurring costs, is no different from what an amicable solution would have found.

Today, insolvency and bankruptcy resolution in India also needs an informal disp…

Read the full article at: https://www.financialexpress.com/opinion/a-case-for-pre-packs-insolvency-resolution-in-india-could-benefit-from-pre-packs/2153863/

Operational creditors are those seeking to recover their dues with respect to goods or services they have provided, while financial creditors are the lenders. The government restricted fresh cases under the Insolvency and Bankruptcy Code (IBC), first for six months till 25 September, and then for three more months till 25 December.

Also Read | Inside the rumble in Indias coding jungle

According to latest data since inception till 30 September, operational creditors formed the majority of those dragging companies to National Company Law Tribunal (N…

Read the full article at: https://www.livemint.com/companies/news/operational-creditors-at-receiving-end-of-ibc-stall-11608516547149.html

Under the law, a person declared bankrupt is disqualified from holding any key government office.

Justice Duncan Gaswaga of the Commercial Court declared Ndawula bankrupt following a bankruptcy application filed by Hirra Traders, Uganda Limited on August 31, 2020. File Photo

Under the law, a person declared bankrupt is disqualified from holding any key government office.

COURT|BANKRUPTCY|#ElectionsWatch2021

KAMPALA – Having been declared bankrupt by the High Court last month, Ronald Ndawula has sought court to set aside the same order to enable him to contest in the forthcoming MP elections.

Ndawula, the Luweero district National Resistance Movement (NRM) chairperson was declared bankrupt after he failed to pay sh542m debt, owed t…

Read the full article at: https://www.newvision.co.ug/news/1535775/mp-contestant-seeks-court-quash-bankruptcy-order

Michael Chopra has recently opened up about his struggles with gambling addiction, his road to recovery, and the help he received from Roy Keane.

Career, Big Break and Addiction

Former professional soccer player Michael Chopra recently opened up about his problems with gambling addiction and the difficult road to recovery. He thanked Manchester United legend Roy Keane for helping him put his life back on track. Now, Mr. Chopra wants to reach out and help others also struggling with gambling addiction.

The former Sunderland striker has had a long and prolific soccer career. He joined Newcastle United in 2000 at the age of 17. After a few years with the team, he signed for Cardiff City in 2006 and then to Sunderland the following year. T…

Read the full article at: https://www.gamblingnews.com/news/michael-chopra-thanks-roy-keane-for-help-overcoming-gambling-addiction/

Nyajuok Mangongo, 36, made a handful of moves to pay off $87,000 in credit card debt and a car payment in just under a year.

From picking up weekend hours as a nurse during the pandemic, to buying things from her local Goodwill to resell on eBay and Facebook Marketplace, Mangongo hustled to supplement her income every way she could.

“Anything that I could do that was legal, that was ethical, that was not clashing with my values, I did it to get extra money,” Mangongo tellsCNBC Select.

But Mangongo didn’t just increase her income, she also cut back on her expenses drastically.

Below, we share Mangongo’s one spending rule that helped her pay off five-figure debt this year and what you can learn from what she calls a “mindset shift.”

…

Read the full article at: https://www.cnbc.com/select/spending-rules-to-pay-off-debt/