Insolvency Guardian Media Centre
In a recent case, the National Company Law Tribunal (NCLT) Mumbai Bench initiated the Corporate Insolvency Resolution Process (CIRP) against the corporate applicant on finding a default due payable.
The Company Petition is filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 (“Code”) by Asis Corporate Advisors Limited (“Corporate Applicant/ACAL”), seeking to initiate its own Corporate Insolvency Resolution Process (“CIRP”). The Corporate Applicant is preferring the said application owing to financial stress faced by it, consequent to which it is not in a position to repay the debts due to its creditors.
The Corporate Applicant is a company limited by shares registered under the…
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The National Company Law Tribunal (NCLT) Mumbai Bench admitted the petition for Corporate Insolvency Resolution Process (‘CIRP’) on finding that the Corporate Debtor has defaulted in repayment of financial debt over minimum threshold of Rs. 1 crore under section 4 of the Insolvency & Bankruptcy Code 2016 (IBC).
The Applicant- JM Financial Credit Solutions Limited (“Financial Creditor” or “the Petitioner”), on 19.02.2025 against the Respondent- R.M. Bhuther and Company Limited (“Corporate Debtor”), under Section 7 of the Insolvency & Bankruptcy Code 2016 (‘the Code’) r/w Rule 4(1) of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, seeking commencement of the Corporate…
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A South African crypto investment company, NTC Global Trade, has officially been placed under provisional liquidation by the Pretoria High Court, marking the collapse of yet another high-profile scheme in the country’s crypto investment scene.
The ruling follows the resignation of the company’s Business Rescue Practitioner (BRP), Kurt Knoop, who stepped down citing death threats. His resignation effectively closed the door on any possibility of saving the business through restructuring.
The case also took a tragic turn in September 2025 when attorney Bouwer van Niekerk, who had been investigating NTC, was assassinated in his Johannesburg law firm’s boardroom. His killing remains unsolved, and authorities…
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ISLAMABAD, Sep 16 (APP):The Ministry of Finance said here on Tuesday that Pakistan’s debt sustainability has improved with the Debt-to-GDP ratio falling from 74 percent in Fiscal Year 2022 to 70 percent in Fiscal Year 2025, supported by early repayments, lower refinancing risks and major interest savings.
“In line with its commitment to sound fiscal management, the Ministry of Finance continues to center its debt management strategy on aligning public debt-to-GDP ratio to Fiscal Responsibility and Debt Limitation Act, minimizing refinancing and rollover risks while generating interest savings to support sustainable public finances,” said a press statement issued by finance…
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The Group of Ministers (GoM) chaired by Union Minister of Power and Housing & Urban Affairs Manohar Lal Khattar and constituted to address the viability of electricity distribution utilities met for the fifth time in New Delhi on Tuesday.
Khattar said that the operational and financial health of distribution companies was key to providing power to consumers. He called for collaborative efforts by the Centre, states and regulators to implement reforms and urged states to expedite the installation of
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Healthcare company buys ostomy peer-to-peer support mobile app IP from liquidated company TheBusinessDesk.com
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Interim Plea Filed in NCLT Against Suraksha ARC Over Fraud Allegations
A suspended director of Sapphire Land Development Pvt. Ltd. (SLDPL) has moved the National Company Law Tribunal (NCLT), Mumbai against Suraksha Asset Reconstruction Company (ARC) alleging fraud, irregularities, and violations of regulatory norms in the company’s insolvency process.
The application was filed by Lakhminder Dayal Singh, who served as director of SLDPL before it was admitted into the Corporate Insolvency Resolution Process (CIRP) in 2021. Singh claims that the very foundation of the case is flawed and rests on questionable arrangements between Yes Bank and Suraksha ARC.
The case is likely to be heard by the NCLT in the coming weeks.
Singh’s plea argues…
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Japan’s richest man and the founder and CEO of Fast Retailing FRCOY, which operates Uniqlo, Tadashi Yanai, warned that the United States could face the steepest costs from the tariffs imposed by President Donald Trump.
Warns The World ‘Could Go Bankrupt’
Speaking at a Uniqlo event in New York City on Monday, Yanai said that he was afraid that the world “could go bankrupt” as a result of the tariffs and trade barriers imposed by the Trump administration, while adding that “America is the one that could suffer the most,” as reported by Reuters.
Fast Retailing, one of the largest apparel…
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Countdown to Christmas: Charity helps Forth Valley families avoid Christmas debt The Scotsman
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U.S. casino operator Bally’s Corporation announced on Friday it won unanimous approval from lenders on its $620 million revolving credit facility (RCF) for the proposed sale and leaseback of its Twin River Lincoln Casino Resort and extended $460 million in commitments under the facility by two years.
The amended agreement pushes the maturity of part of its revolving credit facility from October 1, 2026 to October 1, 2028. Lenders also consented to the Twin River Lincoln deal with Gaming and Leisure Properties Inc (GLPI), which is expected to generate $735 million in cash before expenses and taxes.
Once the transaction closes, Bally’s will cut secured debt and credit facilities outstanding by $500 million, including a…