Mumbai: With a view to increase their accountability, resolution professionals (RPs) could be in for far stricter action under the proposed Insolvency and Bankruptcy Code (Amendment) Bill, 2025, which will empower the “disciplinary committee” to impose penalties of up to ₹2 crore, suspend, or even cancel their registrations for “unlawful gains”. The draft law lands at a time when lenders have been moving to replace RPs in many high-profile insolvency cases.
If the proposals are approved, what will change from the current norms are the penalties—with the maximum being doubled from ₹1 crore—and more teeth to the “disciplinary committee”, the Insolvency and Bankruptcy Board of India (IBBI), that can act faster with…
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Greenus Capital Limited has raised $23 million in debt financing for Johnvents Industries Limited, to support the agribusiness firm’s operations and expansion drive.
Olakunle Odeyemi, CEO, Greenus Capital, said as an Africa-focused advisory firm, Greenus Capital is committed to unlocking capital and growth opportunities for high-potential, middle-market businesses.
In a statement made available to journalists, Odeyemi said that the fund reinforces Greenus’ role as a leading provider of strategic advisory and capital solutions for…
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An Ontario woman was in disbelief after winning a hefty Lotto Max second prize.
East Gwillimbury resident Lucinda Themelis won $216,083.90 in the Lotto Max draw on June 27.
The administrative assistant has been playing with the Ontario Lottery and Gaming Corporation (OLG) for decades. She enjoys Lotto Max, Lotto 6/49 and Lottario, always adding Encore to her tickets.
Themelis sometimes chooses her own numbers and other times uses OLG’s Quick Pick feature, which paid off.
“I won this prize on additional Quick Pick lines on my Lotto Max ticket,” she shared, while visiting the OLG Prize Centre in Toronto to collect her winnings. “I checked my tickets using the OLG app and saw the ‘Big Winner’ message on the screen. It was so…
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The National Company Law Tribunal (NCLT) has dismissed a fresh insolvency plea filed by Exotel Techcom Pvt. Ltd. against Dunzo Digital Pvt. Ltd., noting that the Bengaluru-based hyperlocal delivery startup has already been admitted into the Corporate Insolvency Resolution Process (CIRP).
Exotel, an operational creditor, had moved the tribunal under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking initiation of CIRP against Dunzo. However, the bench observed that Dunzo had already been admitted to insolvency on August 6, 2025, in a petition filed by Velvin Packaging Solutions Pvt. Ltd. in CP (IB) No.36/BB/2024. An Interim Resolution Professional (IRP) has already been appointed in that matter.
The…
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By Sara Beth Williams–
A family-owned thrift store in Citrus Heights is going out of business, according to an estate sales company that is handling the liquidation of the store’s merchandise.
The Family Outpost thrift store posted a liquidation sale sign on the front entrance last week, indicating that a liquidation sale would be taking place from Thursday, Sept. 4, through Sunday, Sept. 7. A phone number for the store was no longer operational as of Thursday.
Martin Acero with Martin’s Estate Sales said the store owner, Dustin Powell, and his family are “moving on to bigger and better things” and have decided to move out of…
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Cruise passenger with $16K gambling debt jumps overboard to avoid repayment MSN
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04 Sep 2025
By Craig Darling, Partner, Corporate at Gilson Gray.
Scotland’s SME sector has shown impressive resilience over recent years. However, for lenders, particularly challenger banks, alternative funders and asset-based lenders – 2026 will be critical in balancing opportunity with risk.
The end of government support schemes has exposed the underlying pressures many businesses are facing: ongoing cash flow constraints, elevated input costs, legacy debt burdens and a persistently difficult economic environment. In this climate, the role of responsive, flexible finance providers has never been more important.
The Current Landscape
Official insolvency statistics in Scotland continue to show a gradual rise in corporate…
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Think & Learn Private Limited, the parent company of embattled edtech giant Byju’s, has officially called for potential investors to express their interest in acquiring the firm. The company’s Resolution Professional, Mr. Shailendra Ajmera, issued a formal “Invitation for Expression of Interest” (EOI) September 1, 2025, marking a crucial step under the Corporate Insolvency Resolution Process (CIRP) governed by the Insolvency and Bankruptcy Code (IBC).
According to the public notice, potential resolution applicants have until September 24, 2025, to submit their initial EOIs. The process outlines a tight timeline, with the final list of eligible bidders to be published on October 19. These shortlisted parties will…
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Mohegan Sun, a popular Connecticut casino, is suing a former Universal Studios executive over nearly $2.8 million in gambling debt.
Ronald Meyer, the former president and COO of Universal Studios, co-founder of Creative Artists Agency and vice chairman of NBCUniversal, is accused of racking up a large gambling debt.
On Oct. 13, 2017, Meyer lost $5 million in a one-day gambling spree at the massive Connecticut casino. Now, Mohegan Sun is suing him to repay the remaining debt, amounting to nearly $2.8 million.
HOW FOOTBALL PREDICTION MARKETS ARE ‘MUCH DIFFERENT’ THAN SPORTS BETTING
Ronald ‘Ron’ Meyer, then-vice chairman of NBCUniversal, attends the annual Allen & Company Sun Valley…


