Anil Ambani and Reliance Communications’ loan accounts declared ‘fraud’ by Bank of Baroda The Economic Times
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Casimir Cast GmbH
A piece of industrial history in the Murg Valley is on the brink of collapse: packaging manufacturer Casimir Kast has filed for insolvency. The family business, founded in 1550, employs around 160 people.
No time? blue News summarizes for you
- Packaging manufacturer Casimir Kast from Gernsbach has to file for insolvency for the first time in 475 years.
- Rising costs and consumer restraint have led the company into crisis.
- Operations are continuing for the time being – an investor is to make the restructuring possible.
One of Germany’s oldest family businesses is in financial difficulties: Casimir Kast…
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Sprick Rowery continues under Asian ownership after insolvency Bike Europe
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By Jesse Chase-Lubitz // 05 September 2025
For decades, African governments have struggled to raise enough revenue to regularly fund their own development, whether that be for education, medicine, or infrastructure. They have relied instead on foreign aid to keep institutions running. During the Financing for Development conference in Sevilla, Spain, this year, experts said that there’s a $4 trillion annual financing gap in achieving the Sustainable Development Goals — and 40% of that gap, or $1.7 trillion, is in Africa. One of the primary culprits of this is tax collection. On average, sub-Saharan Africa collects…
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On 4 September 2025, the Šiauliai Regional Court ruled to initiate bankruptcy proceedings for AB Šatrija, a sewing services company owned by the Utenos Trikotažas Group. The ruling may be appealed within 7 days of delivery. Once it becomes final, AB Šatrija will acquire the status of a bankrupt legal entity.
Insolvency administrator Juozas Valaitis has been appointed (Insolvency Administrators List No. N-FA0207, address: Jonavos g. 16A, Kaunas, tel. +370 37 308945, email: [email protected]).
Until the ruling enters into force, the company’s fixed assets, real estate, and property rights classified as current assets remain under seizure. This part of the ruling on asset seizure is enforceable immediately.
This process will…
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In a significant development, state-owned Bank of Baroda (BoB) has classified the loan accounts of debt-laden Reliance Communications Limited, also RCom, and its former chairman, Mr. Anil Dhirubhai Ambani, as “fraud”, alleging a systematic diversion and misappropriation of funds.
The bank issued a detailed “Reasoned Order” on September 2, 2025, following a protracted process that included a forensic audit and multiple show-cause notices. The total outstanding exposure classified as fraud amounts to approximately ₹1,656.07 crore.
RCom, which has been undergoing a Corporate Insolvency Resolution Process (CIRP) since 2018, promptly disclosed the development to the stock exchanges on Thursday, as mandated by market…
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In a move to recover funds for creditors, the liquidator of the scam-tainted Gitanjali Gems Limited has put up for e-auction three luxury flats in Mumbai’s Santacruz East, previously linked to the company’s promoters, the Choksi family. The auction is part of the liquidation process of the company that collapsed following the massive Punjab National Bank (PNB) fraud.
The properties, identified as Flats No. 101-103, 201-203, and 301-303 on the first, second, and third floors of ‘Sapphire Heights’ (formerly Kheni Tower) in Jogani Complex, Kalina, will be auctioned individually. Each flat, with a merged carpet area of 3,130 sq. ft., carries a reserve price of ₹10,14,48,934. To participate, serious bidders must…
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New Delhi, Sep 5 (IANS) In a significant step, Bank of Baroda, one of India’s leading public sector banks, has declared the loan accounts of Reliance Communications Ltd. (RCom) and its erstwhile Director, Anil Ambani, as ‘fraud’, according to an exchange filing.
This classification pertains to loans taken before RCom entered the corporate insolvency resolution process (CIRP), the exchange filing told on Thursday.
This development marks a crucial turn in the ongoing financial saga surrounding the once-prominent telecom company and its erstwhile director.
RCom, currently undergoing the CIRP under the Insolvency and Bankruptcy Code (IBC), 2016, has…


