REVEALED: Latest business liquidations in Whitehorse Herald Sun
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REVEALED: Latest business liquidations in Brisbane The Courier Mail
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The National Company Law Tribunal (NCLT) Bengaluru bench of Shri Sunil Kumar Aggarwal, Member (Judicial) and Shri Radhakrishna Sreepada, Member (Technical) held that an unremitted Tax Deducted at Source (TDS) amounts deducted by the corporate debtor before the liquidation are assets held in trust for the government and therefore stand excluded from the liquidation estate under section 36 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Tribunal allowed the delayed claim filed by the government and directed the liquidator to verify and remit the amounts directly to the government.
Background:
The liquidation proceedings were initiated against Bhuvana Infra Projects Pvt. Limited (Corporate Debtor) on 10.12.2019. The…
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REVEALED: Latest business liquidations in Casey Herald Sun
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Staff at the beleagued inward investment agency Locate in Kent have been told there may not be enough money left in the kitty to pay wages they are owed or a redundancy payment.
The company went into shock liquidation last month after almost 30 years promoting the county.
Since being formed in 1996, it had supported around 1,130 companies in setting up or expanding in the area, helping to create and retain more than 70,000 jobs.
But in a dramatic twist, it floundered in September – just two weeks after the separate collapse of Visit Kent, which promoted the county as a tourism destination both at home and…
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Millions of Koreans Get Lifeline as Government Launches Debt Relief Program (Image supported by ChatGPT)
Government Kicks Off “New Leap Fund” to Wipe Out Old Debts for Over 1 Million Borrowers
SEOUL, Oct. 8 (Korea Bizwire) — The South Korean government has launched a new debt relief initiative aimed at helping long-term defaulters rebuild their financial lives, but officials face a key hurdle in securing cooperation from private lenders that hold a sizable share of delinquent loans.
The “New Leap Fund,” officially launched this month, will purchase and either write off or restructure delinquent debts of up to 50 million won ($36,000) that have been overdue for seven years or longer. The fund expects to…


