GUWAHATI: The Opposition Congress in Assam has demanded a CBI probe into the alleged coal syndicate operating in the state, while calling for constitution of an all-party House committee to probe into allegations of syndicates raj in other items.
Addressing a press conference here, Leader of Opposition in Assam legislative Assembly Debabrata Saikia said, There have been reports of overloading of coal trucks and syndicates running the coal trade in the state. Our MLAs have also caught overloaded coal-carrying trucks and handed over the same to the police several times. Since Coal India Ltd deals with the coal trade here, we demand a CBI enquiry into the allegations of syndicates operating in this sector.
He further alleged t…
Read the full article at: http://www.theshillongtimes.com/2018/02/09/cong-demands-cbi-probe-into-coal-syndicate-in-assam/
This Article traces implementation of IBC and progress achieved over the past one year and the challenges faced by each of the of the Pillars during their one year of journey.
For the sake of convenience and better understanding, the article is divided into four parts.
Part-I Captures Criticality of IBC as a piece of legislation and challenges & achievements of IBBI.
Part-II Traces Formation of NCLTs and evolution of insolvency jurisprudence,
Part-III Deals with the role of two other critical pillars under IBC- Information Utilities and Committee of Creditors and issues faced by Banks; and finally
Part-IV While dealing dimension of role of the Resolution Professionals, try to present a balance sheet of the issues resolved /unresolved/evolvin…
Read the full article at: http://www.livelaw.in/evolution-law-corporate-insolvency-balance-sheet-working-ibc-2016-part/
Twelve cash-strapped colleges received secret government bailouts totalling more than £11 million in December.
It perhaps demonstrates a significant increase in the amount of money being dished out to struggling colleges and has prompted demands for greater transparency.
The figures were published by the Department for Education as part of a scheduled release detailing monthly expenditure.
Accountability for the use of taxpayers money requires full and immediate transparency; there is no excuse for anything less, said Mark Dawe, the chief executive of the Association of Employment and Learning Providers.
It is encouraging that the FE commissioner now has a wide-ranging brief to help colleges in diff…
Read the full article at: https://feweek.co.uk/2018/02/09/revealed-the-12-colleges-surviving-on-government-bailouts/
The commercial and leasing business is held under Indiabulls Commercial Assets Ltd, a wholly owned subsidiary of IBR.
Earlier on April 17, 2017, the restructuring/ reorganizing of commercial & leasing businesses was considered as follows: –
(i) By placing Indiabulls Commercial Assets Limited as a separa…
Read the full article at: https://www.indiainfoline.com/article/news-top-story/indiabulls-real-estate-board-to-consider-restructuring-of-commercial-and-residential-business-118020900806_1.html
The co-founder of luxury bridal house Pallas has bought back the business out of administration, preserving most of its 30 jobs.
Pallas creditors on Wednesday approved a deed of company arrangement floated by Joy Morris, the designer behind the business, saying it represented the best option for employees.
Under the deal, Ms Morris will pay $71,000 to recover the Pallas business and also reassume responsibility for workers accrued entitlements.
However, there will be no return for unsecured creditors owed more than $900,000.
Pallas Bride and Fashion called in administrators from Cor Cordis on November 20 after the Australian Taxation Office applied to wind it up over an unpaid debt.
The business has remained opened during the administration, …
Read the full article at: https://thewest.com.au/business/retail/buy-back-of-luxury-bridal-house-pallas-preserves-jobs-ng-b88740619z
The ASX is reviewing claims made by real estate giant McGrath disputing speculation its Rich Lister founder John McGrath has a $100 million margin-lending facility attached to his shares in the publicly listed company
Details of the loan emerged on Friday after the company told the stockmarket on Thursday night that the multimillionaire had never used his shares as collateral for a loan.
Documents lodged with the corporate regulator indicate Mr McGrath has a maximum liability of $100 million through his private entity, Fondorru Pty Ltd, but they do not specify how much the loan was for, nor do they mention what assets were available at the time to sec…
Read the full article at: http://www.smh.com.au/business/real-estate-giant-mcgrath-faces-asx-review-20180209-p4yzuu.html
SINGAPORE – Noble Group’s major shareholder Goldilocks Investment Company is calling on Noble’s stakeholders to collectively oppose the commodity trader’s approach to its restructuring plans.
Goldilocks issued that statement on Friday (Feb 9), following Noble’s Feb 5 rejection of its request to be released from non-disclosure arrangements surrounding discussions on Goldilocks’ demands for two board seats. Noble cited “extensive and confidential information” that had been shared with Goldilocks under the non-disclosure agreement.
Goldilocks, which owns 8.1 per cent of Noble, said that it has not received a direct reply from Noble on the release request. Without that release, the shareholder argued that it cannot present a com…
Read the full article at: http://www.straitstimes.com/business/companies-markets/goldilocks-urges-noble-stakeholders-to-oppose-restructuring-approach
The US State Department has begun reviewing the application of controversial Bulgarian businessman Tsvetan Vassilev to be considered under the Global Magnitsky Human Rights Accountability Act, a law passed by US Congress that allows the government to impose sanctions in retaliation for human rights abuses and corruption, application under the Magnitsky act.
Latest info from JWI: the US State Dept’t is currently reviewing Tzvetan Vassilev’s application under the US Global Magnitsky Act. We are expecting results soon, Radosveta Vassileva …
Read the full article at: http://www.intellinews.com/us-starts-reviewing-bulgarian-tycoon-vassilev-s-plea-for-help-136476/
Indiabulls Real Estate share price gained more than 5 percent on Friday ahead of board meeting to consider demerger of residential and commercial businesses.
The company on Thursday informed exchanges that a meeting of the board of directors, is scheduled on Wednesday, February 14, 2018, to consider the various options and recommendations of the committee constituted for reorganisation/ restructuring of the existing residential and commercial office leasing businesses, and to take appropriate decisions.
In April 2017, the company’s board had considered the possibility of streamlining its existing residential, commercial and leasing businesses by segregating commercial & leasing business carried on by itself and/or thr…
Read the full article at: http://www.moneycontrol.com/news/business/stocks/indiabulls-real-up-5-as-board-to-consider-restructuring-of-residential-commercial-biz-2504281.html
Financially slumping Toys R Us began sales at select locations this week as the company prepares to close about 150 stores 24 of them in California according to a press release by one of the firms operating the liquidation sales.
Though the press release does not specify which locations are participating, liquidation will lead to sales of up to 30 percent off mercha…
Read the full article at: http://www.sacbee.com/news/business/article199175549.html