Insolvency Guardian Media Centre
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has cleared the way for insolvency proceedings against Supertech Realtors, the developer of the Supernova project, which comprises residential apartments, offices, retail space, and a luxury hotel.
The Insolvency and Bankruptcy Appellate Tribunal has upheld the previous order passed by the Delhi bench of the National Company Law Tribunal (NCLT), which had, on June 12, 2024, directed the initiation of the Corporate Insolvency Resolution Process (CIRP) over a petition filed by Bank of Maharashtra, claiming default.
A two-member NCLAT bench said the revised proposal submitted by its promoter,
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The National Company Law Tribunal (NCLT) has dismissed an application filed by the interim resolution professional (IRP) of SKIL Infrastructure seeking withdrawal of the corporate insolvency resolution process (CIRP) against the company.
The listed infrastructure firm, promoted by brothers Bhavesh and Nikhil Gandhi, was admitted under the CIRP on an application filed by its financial creditor, Amluckie Investment Company.
“We are of the considered view that the withdrawal does not deserve to be allowed,” an NCLT Mumbai…
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The National Company Law Tribunal (NCLT) has dismissed an application filed by the interim resolution professional (IRP) of SKIL Infrastructure seeking withdrawal of the corporate insolvency resolution process (CIRP) against the company.
The listed infrastructure firm, promoted by brothers Bhavesh and Nikhil Gandhi, was admitted under the CIRP on an application filed by its financial creditor, Amluckie Investment Company.
“We are of the considered view that the withdrawal does not deserve to be allowed,” an NCLT Mumbai…
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Key Takeaways
- The level of student loan debt you can reasonably handle depends on your income.
- Experts recommend limiting your monthly student loan payments to no more than 8% to 10% of your gross monthly income.
- Even with federal policy changes, there are still many ways to obtain student loan relief.
- Ways to manage your student loan debt include switching to biweekly payments and always paying at least the interest.
- If your debt load feels unmanageable, options like refinancing, income-driven repayment, or employer assistance can ease the burden.
Carrying debt isn’t inherently bad. In some cases, it can be beneficial to your long-term finances. For example, taking on student loan debt could boost your career earnings by…
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Liquidators looking for buyer for Wellington events company Hiremaster BusinessDesk | NZ
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The National Company Law Appellate Tribunal (NCLAT) has paved the way for insolvency proceedings against Supertech Realtors over its ambitious Supernova project. The developer is facing legal action following a petition by the Bank of Maharashtra, which claims the company defaulted on its financial obligations.
After reviewing the situation, the NCLAT supported the earlier decision by the National Company Law Tribunal (NCLT) to initiate the Corporate Insolvency Resolution Process (CIRP). Efforts by the promoter, Ram Kishore Arora, to propose a settlement were rebuffed by a consortium of banks.
Supertech Realtors, a subsidiary of the realty firm Supertech, attempted to counter the allegations with a settlement offer, but the lender…
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General Pants Co supplier lodges winding-up order Inside Retail Australia
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Gupta coal mine faces liquidation as creditors lose patience The Australian
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AVIATION
Startup Merlin Labs valued at $800 million in deal to go public
Autonomous aviation startup Merlin Labs will soon be soaring into the public markets now that it has signed a deal to merge with a blank-check company early next year. The terms of the deal, with a special purpose acquisition company managed by New York-based Inflection Point, values Boston-based Merlin at $800 million, prior to the results of a follow-on private purchase of shares. Merlin chief executive Matt George says the money raised by going public will…
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Welsh Water would like to apologise again to our customers in Flintshire for the disruption caused by the burst water main in Broughton. We expect the disruption to continue until at least Friday evening.
The fault is impacting on water supplies to customers in the following communities: Flint, Holywell, Ffynnongroyw, Greenfield, Llanerch y Mor, Mostyn, Oakenholt, Talacre, Whitford, Queensferry, Shotton, Connah’s Quay, Garden City, Hawarden, Mancot and Sandycroft.
We will be working overnight and remain on the ground supporting customers until supplies are fully restored. This includes delivering bottled water to our vulnerable customers, supporting care homes and hospitals, and managing our three water bottle stations.
Customers whose…
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Back-to-school season is in full swing. But this year, notebooks and pencils are taking a back seat to designer sneakers and name-brand clothes.
Some students are showing up on the first day of school dressed like they’re heading to New York Fashion Week. Social media is fueling the trend, and it’s pushing many parents to their financial limit.
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TikTok hauls spotlight high-end school outfits
Viral social media videos show first-day outfits, with some showing off clothes they bought during their back-to-school shopping.
These items aren’t cheap. In one video alone, the featured Chanel…
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This was co-authored by Lee-Oz Lifschitz.
Insolvency practitioners and trust creditors should take note of the recent decision of the High Court of Australia in Naaman v Jaken Properties Australia Pty Limited [2025] HCA 1 (Naaman). The central question in this case was whether a successor trustee owed a fiduciary duty to its predecessor in respect to its right of indemnity and corresponding beneficial interest in the trust assets. By a 4:3 majority (Gageler CJ, Gleeson, Jagot and Beech-Jones JJ), the High Court’s response was “no”. Given the increasing use of trading trusts in Australia and invariably, the liquidation of some of them, we distil in this article the practical implications of this decision for liquidators…