Insolvency Guardian Media Centre
The Mumbai bench of the National Company Law Tribunal (NCLT) allowed the liquidation of Reliance Capital Ltd. with the provision of the Insolvency and bankruptcy Code(IBC), 2016 and appointed the liquidator.
The Application has been filed under Section 33(2) of Insolvency and Bankruptcy Code, 2016 (“theCode”) read with applicable provisions of the Insolvency and Bankruptcy Code (Insolvency Resolution Process for Corporate
Persons), 2016 (“CIRP Regulations”) by Mr. Pankaj Sham Joshi (hereinafter referred to as the “Applicant”) seeking
The Company Petition was filed by the Financial Creditor i.e. Reliance Capital Limited as per Section 7 of the Code to initiate Corporate Insolvency Resolution Process (“CIRP”)…
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The National Company Law Tribunal (NCLT), Mumbai Bench has held that it is not the appropriate forum to adjudicate matters related to copyright violations related to ‘Kaithi’ movie and contract termination and rejected application preferred by Dream Warrior Pictures.
The applicant, Dream Warrior Pictures file application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ( “the Code”) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 ( “the AAA Rules”) by Mr. Aravendraj Baskaran authorised representative and Executive Producer of the Applicant authorised vide a resolution dated 11.01.2025, for initiating Corporate Insolvency Resolution Process…
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Many North East firms at “crossroads”, insolvency expert says business-live.co.uk
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Online gaming addiction has become a nationwide crisis, with rising cases of suicides, debts, and financial ruin across India. Families are losing their life savings, with over ₹20,000 crore lost annually and 45 crore people impacted. Tragic incidents — from Siliguri to Telangana — highlight the growing dangers of online betting, money gaming, and gambling. Union Minister Ashwini Vaishnaw stresses the need for strict regulation to protect the youth and middle-class families while promoting safe platforms and responsible gaming.
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The situation of the Belgian transport group based in Turnhout had been deteriorating for several years, and hopes of a rescue were abandoned within just a few months. Despite earlier restructuring and attempts to expand into parcel transport and logistics, the company failed to stay afloat.
Five companies declared bankruptcy
The commercial court in Antwerp declared the bankruptcy of five companies belonging to Group De Wolf: holding Group 5216 and four operational companies – Red Line Service, Transport De Wolf & Berre, Red Line Logistic Service, and Transport Bellekens. The latter was taken over by Group De Wolf in 2021.
In total, the group employed about one hundred people, with 80 full-time employees in 2023 within the logistics…
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The situation of the Belgian transport group based in Turnhout had been deteriorating for several years, and hopes of a rescue were abandoned within just a few months. Despite earlier restructuring and attempts to expand into parcel transport and logistics, the company failed to stay afloat.
Five companies declared bankruptcy
The commercial court in Antwerp declared the bankruptcy of five companies belonging to Group De Wolf: holding Group 5216 and four operational companies – Red Line Service, Transport De Wolf & Berre, Red Line Logistic Service, and Transport Bellekens. The latter was taken over by Group De Wolf in 2021.
In total, the group employed about one hundred people, with 80 full-time employees in 2023 within the logistics…
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In an important, the Madras High Court has held that the Commercial Tax Department qualifies as a ‘secured creditor’ under the Insolvency and Bankruptcy Code ( IBC ) where statutory charges are created on the property of a corporate debtor.
Thus, directed the auction purchaser – petitioner, to recover its purchase consideration from the corporate debtor and remit the amount towards long-pending VAT ( Value added tax ) arrears of the Corporate debtor for vacating the attachment.
RLS Alloys Pvt. Ltd., the 3rd respondent which was ordered into liquidation by the National Company Law Tribunal (NCLT) in June 2019. The Commercial Taxes Department, represented by the Assistant Commissioner Srirangam (GST Circle), had earlier attached its…
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As Finland prepares to end its monopoly, a new study has warned the transition to a licensing model needs to be “carefully designed” to alleviate problem gambling concerns.
A study in Finland has found online gambling ads contribute to problem gambling and financial harm, especially among online offshore gamblers.
The study was conducted by Iina Savolainen, a senior research fellow; Tomi Roukka, a senior specialist at the Finnish Institute for Health and Welfare; and Tampere University social psychology professor Atte Oksanen.
The research, titled “The impact of gambling advertising online: a longitudinal study on exposure and harm”, surveyed 1,530 Finnish adults aged 18 to 75 between 2021 and 2024.
Around 75% of…
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Corporate insolvencies increased by 1.4% in July 2025 to a total of 2,081 compared to June 2025’s total of 2,053, and slightly increased by 0.1% compared to July 2024’s figure of 2,078.
Corporate insolvencies increased by 15.2% from July 2023’s total of 1,807.
Personal insolvencies increased by 1.8% in July 2025 to a total of 10,515 compared to June 2025’s total of 10,328, and slightly increased by 0.3% compared to July 2024’s figure of 10,479.
Personal insolvencies increased by 24.3% from July 2023’s total of 8,456.
Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a…
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7Anna files for bankruptcy as cycling industry faces post-COVID shakeout Bike Europe
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Teneo, the global CEO advisory firm, today announced a major expansion of its fast-growing global business with an agreement to acquire PwC’s Australia Business Restructuring Services unit.
The transaction further extends Teneo’s market-leading presence across Asia-Pacific, providing its Financial Advisory business with a strong foothold in the Australian market. The team will offer a wide range of financial advisory services in the region, including deep expertise in local and international restructuring and insolvency situations.
Through the transaction, approximately 80 members of PwC’s Australia Business Restructuring Services team will join Teneo, including Stephen Longley who has led the team for the last four years and will…
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The Insolvency and Bankruptcy Code (IBC) was enacted to consolidate and streamline the insolvency resolution process for corporates, partnership firms, and individuals in a time-bound manner. It aims to hasten the resolution process and thereby maximize the value of the assets of such entities. The IBC seeks to balance the interests of all stakeholders, including creditors and debtors. Over 8000 cases have been referred to IBC since its enactment, and as of September 2024, around ₹3.5 lakh crore has been recovered by creditors through the process.
Recently, in ‘Kalyani Transco v. Bhushan Power and Steel Ltd,’ an issue was raised by the Appellants regarding the distribution of EBITDA (Earnings Before Interest, Taxes,…