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HYDERABAD: The National Company Law Tribunal (NCLT) has appointed an interim insolvency professional for SmartCity (Kochi) Infrastructure, after admitting a
NEWCASTLE has the highest rate of personal insolvency in regional NSW according to figures released by the Australian Financial Security Authority.Across
The government is considering bringing in regulations in phases to deal with individual bankruptcy under the overarching law the Insolvency and Bankruptcy Code (IBC) 2016. Sources told FE the government will first come up with insolvency regulations for individuals who are into businesses, which could be announced in a month. Individuals giving personal guarantees for corporate loans and an overwhelming chunk of micro and small and medium enterprises (MSMEs) that are basically proprietorship and partnership firms will be covered by these regulations. The next phase of rules would be to deal with cases where individuals who are not into any business and yet go bankrupt to service personal debt…
HYDERABAD: The National Company Law Tribunal (NCLT) has appointed an interim insolvency professional for SmartCity (Kochi) Infrastructure, after admitting a payment default claim by a creditor against the joint venture between the Kerala government and Dubai’s Tecom Investments.
The Kerala government holds a 16% stake in the IT special economic zone, with Dubai Holding’s Tecom unit owning the rest. The first phase commenced operations last year and the project is expected to become fully operational by 2020.
Kochi Smart City, Kerala’s signature IT project, is coming up on 246 acres of land. The plan is to build 67 lakh square feet of space for IT and related businesses and 21lakh sq ft for non-IT facilities.
COAST parents Jesse and Vanessa Serrell had no idea anything was wrong when they went into a Coast store to pay their lay-by down on Wednesday.
On Thursday they discovered through the Bubs Baby Shops Facebook page the company had gone into receivership after 17 years in business.
The couple is expecting their third baby in two months had spent $160 on a lay-by cot, but when they went into the Maroochydore store on Saturday to try and finalise the payments and collect their cot they were told that was not possible.
“They wouldn’t release our lay-by even if we paid the outstanding amount, and even though it was there out the back of the store,” he said.
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E-commerce entrepreneur Ruslan Kogan believes multiple Australian online retailers will collapse over the next year and says his company is poised to acquire them if the opportunity arises.
Speaking to AAP, the founder and chief executive of booming online retailer Kogan.com refused to name any specific retailers, but said the process of acquiring collapsed retailer Dick Smith Electronics last year put Kogan in good stead to pick up any other floundering e-commerce websites in future.
Over the last decade there has been a lot of online retailers who have done a great job in raising money building a website and then blow all the money on marketing and building a brand, Kogan told AAP.
Written by Aditi Vatsa
| New Delhi |
Updated: August 21, 2017 5:42 am
Cut to Sectors 128 and 134 along the Noida-Greater Noida Expressway, where visitors are instead greeted by unfinished concrete towers that give the impression of an abandoned town.Express photo by Gajendra Yadav
An artists impression of a township showing an array of high-rises neatly spread around landscaped greens and water bodies, an expansive golf course, and several other community facilities greets visitors on the Jaypee Wish Town website. The integrated city, it promises, will see all types of residential and commercial options for urban living.
After Jaypee, more builders might be declared insolvent.
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The govt has assured home buyers that they will either get the money or house.
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Rights of home buyers under RERA are secure, say CAs.
It seems there is no respite for homebuyers despite assurances from the government that their money will not go down the drain even if the builders are declared bankrupt. There is speculation among homebuyers that several builders are looking for ways such as insolvency to escape the ambit of the Real Estate (Regulation and Development) Act 2016 (RERA), which will tighten the noose around the developer community for non-delivery or delay in projects. Over 32,000 homebuyers, who invested in Jaypee Infratech, are left in the lurch as neither h…
Dear Liz: I’m 32 and have a little over $100,000 in student debt from undergraduate and graduate school. I’m trying to get my professional life on track, and I cant figure out how to pay the loans off. Everything I see online seems shady. What are the questions I need to be asking myself? What are the things I should be searching for on the Internet to help me get control of my financial situation?
Answer: Shady is exactly the right word to describe many of the companies promising student loan debt relief. Theyre making false promises and charging troubled borrowers fat fees for government help thats available for free. Many of these outfits get disciplined in one state, only to pop up in another.
Almost a year after China rolled out steps to rein in soaring corporate leverage, concerns are rising that undeserving companies are benefiting while households are getting saddled with risks.
China unveiled guidelines for debt-to-equity swaps in October, part of measures to trim the worlds biggest corporate debt loads. The idea was that healthy firms would use the program to cut interest-bearing…
Gov. John Carney held a signing ceremony Aug. 14 for House Bill 226, a major piece of legislation that restructures Delaware’s economic development efforts, with a focus on supporting Delaware small businesses, innovators and entrepreneurs.
Carney also signed incorporation paperwork creating the Delaware Prosperity Partnership, a public-private partnership that will leverage private-sector resources to enhance business recruitment, promote entrepreneurship and innovation, support workforce development efforts, and produce forward-looking analyses on economic trends to best position Delaware’s economy to grow.
Legislation restructuring Delaware’s economic development efforts, and authorizing creation of the partnership, was sponsored…
NEW DELHI: The insolvency resolution professional (IRP) handling the Jaypee Infratech case has ruled out the possibility of home buyers getting refunds, but has assured efforts are being made to ensure the continuation of project development.
According to the order, Jaypee Infratech has defaulted on Rs 526.11-crore loan outstanding to IDBI Bank. The latest move by NCLT against Jaypee Infratech has left around 32,000 home buyers in the lurch. NCLT has now appointed Anuj Jain as the IRP to carry out the proceedings under the Insolv…
NEWCASTLE has the highest rate of personal insolvency in regional NSW according to figures released by the Australian Financial Security Authority.
Across the Hunter there were 215 cases of personal insolvency in the June quarter of 2017, with Newcastles 43 debtors the largest in the state outside of Sydney.
Across Australia there were 7,729 debtors who entered a new personal insolvency to June, a fall of 3.9 per cent compared to the previous quarter.
In the Hunter, there were six less cases of personal insolvency than in the March quarter.
Victoria and Queensland had the largest falls, falling by 131 and 111 debtors respectively.
In New South Wales there were 1,297 debtors who entered a new personal insolvency in Greater Sydney in the June…
Regulators at the Bank of England are quietly getting ready to authorise the creation of the three largest banks to come into existence in Britain.
According to the BoE’s Prudential Regulation Authority, the legal entities of HSBC, Barclays and Lloyds Banking Group will mark the biggest creation of banks measured by assets, as they crystallise their “ring-fencing” plans and meet the regulator’s 2019 deadline to split their “core” retail services, such as deposit-taking, from their riskier investment banking units.
The idea is to prevent taxpayer bailouts of “too big to fail” banks that risk customer deposits when bets by their investment banking units go…
PM Narendra Modi. (Image: PTI)
Cut to Sectors 128 and 134 along the Noida-Greater Noida Expressway, where visitors are instead greeted by unfinished concrete towers that give the impression of an abandoned town.Express photo by Gajendra Yadav