Insolvency Guardian Media Centre
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New Delhi: In a move that will facilitate a quicker turnaround of insolvent companies, the government has proposed a key change to the country’s bankruptcy law that will let the firms’ revival plans move ahead even if the lenders are locked in disputes over how to share the proceeds, two people aware of the discussions within the government said.
A provision in the Insolvency and Bankruptcy Code (Amendments) Bill, 2025, tabled in Parliament, allows tribunals to first approve a company’s resolution plan and take up disagreements among creditors on distribution later, they said.
“This flexibility saves valuable time in the revival of the…
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Snapshot
A United States Postal Service worker’s attempt to make quick money through day trading has left him $180,000 in the hole, facing massive debt, potential job loss, and personal turmoil, prompting urgent advice from The Ramsey Show hosts.
In the July episode, Caller Alex explained that after losing package volume at his USPS job, he turned to day trading, initially making $120,000 but borrowing $60,000 to fund trades.
“I ended up losing the money and I took out another loan to try and make it back and lost it, too,” he said.
Alex now faces $6,200 in monthly expenses with only $4,000 in income and fears he could lose his job due to not being able to afford a delivery vehicle required by his contract.
Trending: Would You…
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Vertical farm that received public funding goes into voluntary administration MSN
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Business with 2degrees: BusinessDesk’s Riley Kennedy on pressure in retail and possible impact of renegotiating the Paris Climate agreement.
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There’s no question that credit card debt can be easy to get into. All you have to do is swipe your card for a purchase to pay. And, if you aren’t careful, that debt can accrue quickly because credit cards generally have high interest rates, which can make it even more difficult to get out of debt, says certified financial planner Hanna Horvath.
“Credit card debt has obviously become extremely…