Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
The Special Bench of the National Company Law Tribunal (NCLT) at Indore has admitted a Section 7 application under Insolvency and Bankruptcy Code (IBC), 2016 and initiated the Corporate Insolvency Resolution Process (CIRP) against Labhanshi Multitrade Private Limited, holding that the existence of a financial debt and default was undisputed.
The application was filed by the Financial Creditor, Avanti Finance Private Limited, an NBFC, against the Corporate Debtor, Labhanshi Multitrade Private Limited, which is engaged in the business of agricultural commodities. The petition stemmed from a default on a loan of Rs. 2 crore, with the outstanding amount claimed to be over Rs. 1.17 crore as of July 2024. The date of default…
CT4N also used to run the low-cost Medilink services between Nottingham’s two main hospitals, Queen’s Medical Centre and City Hospital, before it changed hands in September.
The company has now entered a voluntary insolvency deal – one which “protects the livelihoods” of 75 staff members and means its…
CreditorWatch warned that almost one out of every six (16.2%) hospitality firms is at risk of failing due to high interest rates, rising rents, cost-of-living pressures, and the pandemic hangover.
CreditorWatch forecast that roughly one in eleven (8.9%) food and beverage enterprises would close in 2025.
The latest insolvency data from the Australian Securities and Investments Commission (ASIC) shows that the accommodation and food industry experienced the sharpest increase in corporate insolvencies.
Advertisement
There were 2194 insolvencies across the accommodation and food industry in the financial year to 2 March 2025, up 79% from the same time a year earlier (1226) and 182% on 2023 levels (779).
On 6 October 2025, the National Company Law Appellate Tribunal’s (NCLAT) Principal Bench, New Delhi, delivered a terse but telling reminder that the Corporate Insolvency Resolution Process (CIRP) under the Insolvency & Bankruptcy Code, 2016 is triggered by default, not the degree of disbursement or the robustness of security. In Company Appeal (AT)(Ins) No. 1216 of 2023, Justice Ashok Bhushan (Chairperson) and Mr. Arun Baroka (Technical Member) dismissed the challenge mounted by Mr. Ammeet Kamal Agarwal, suspended director of Supreme Transport Organisation Private Limited, against the admission order dated 8 September 2023 passed by the National Company Law Tribunal (NCLT), Delhi. The ruling not only affirms Axis Bank Limited’s…
Key Developments in Subsidiary Liquidation: Superfood Kitchen Pte. Ltd. and The Green Bar Pte. Ltd.
Autagco Ltd., a Singapore-incorporated holding company, has announced significant progress in the voluntary liquidation of two of its wholly-owned subsidiaries: Superfood Kitchen Pte. Ltd. (SFK) and The Green Bar Pte. Ltd. (TGB). This move, initially described as a members’ voluntary liquidation, has been clarified to be a creditors’ voluntary liquidation, marking an important shift that could have material consequences for the company’s financial health and share value.
What Has Changed?
The company’s previous announcements referred to the winding-up of SFK and TGB as a members’ voluntary…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy.
To enable cookies, follow the instructions for your browser below.
Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:
1. Open the settings menu by clicking the hamburger menu in the top right
Upon liquidation, MAPL received about ₹17.12 crore as distribution of proceeds towards its full shareholding in MAAPL.
Mahindra & Mahindra (M&M) on Friday announced the cessation of Mahindra Aerospace Australia (MAAPL) as a wholly-owned subsidiary of Mahindra Aerospace (MAPL) following the receipt of a deregistration certificate, the company said in a regulatory filing.
Work has resumed at 11 State Circle, Forrest. Photo: Ian Bushnell.
Recent court action has confirmed that prominent Canberra developer Keggins has collapsed, with a liquidator appointed to a third company in the group.
Region first reported in March that Keggins was in trouble after work on a high-profile luxury townhouse project at a prestigious address in Forrest came to a halt and receivers Newpoint Advisory were appointed to the development company, JJ Forrest Pty Ltd.
An extensive listing for the development from Blackshaw Manuka was pulled after Region made enquiries about its status.
It is understood Keggins’ sole director had not been able to refinance the project, leaving trade companies in the lurch.
In the landmark case of Saranga Anilkumar Aggarwal v Bhavesh Dhirajlal Sheth and Ors, the Supreme Court held that insolvency proceedings under section 96 of the Insolvency and Bankruptcy Code, 2016 (IBC), cannot stay penalty actions under the Consumer Protection Act, 1986 (CPA). An interim-moratorium in force under section 96 of the IBC does not prevent the enforcement of penalties under section 27 of the CPA.
Many homebuyers levelled complaints against the real estate developer appellant about delayed possession and unsatisfactory services. The National Consumer Disputes Redressal Commission (NCDRC) directed the developer to complete construction and compensate the complainants. In unrelated proceedings, a bank initiated…
