Mumbai: 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 division bench of judicial member Saji Kumar and technical member Anil Raj Chellan said in its order dated August 13. “The applicant/IRP is directed to constitute the committee of creditors (CoC) forthwith and…

As high interest rates remain the norm and the cost of everything from groceries to housing continues to rise, it’s getting harder for those with credit card debt to fit both their necessary expenses and their debt payments into their budgets. To make the numbers work, some are cutting back on their spending. Others are refinancing or consolidating their debt to make it more affordable. But for those who are…

Police investigating the suspected murder of an Indonesian journalist say the purported killer was mired in online gambling debts.

Indonesia’s Metro TV News reported that police now suspect financial motives in the death of Aditya Warman, 47, the editor-in-chief of an online media outlet who resided in Pangkalpinang.

The chief suspect, named as Hasan Basri, was arrested earlier this month after a four-day manhunt.

Basri was “entangled” in gambling debt, officers said. He and another individual (also a suspect in the case) had been…

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The focus of the Kyiv Economic Court has turned to the hotel ‘Salyut’, which was declared bankrupt due to huge debts. This enormous amount – 5.4 billion hryvnias – is the reason the company cannot find a way out of its financial troubles.

The main asset of ‘Salyut’ is its building, which is already planned to be sold at auction. This hotel, located on Ivan Mazepa Street, is known for its 7-story building and 88 rooms and has been in existence since 1984. Recently, financial difficulties at GoPro have also come to light, which may lead to bankruptcy.

The court’s ruling indicates that the situation with the hotel ‘Salyut’ is so complicated that liquidating the company is the only way to save the business from…

(UPDATE) SEN. Juan Miguel Zubiri said Thursday online gambling has expanded at a speed government regulators “failed to match,” with revenues jumping over 5,500 percent in the past four years.

“From 2020 to 2024, the industry grew by 5,564 percent. Unbelievable. And yet it is real,” Zubiri said during a Senate hearing on measures to deal with online gambling.

He linked the surge on online betting to “easy access” through e-wallets or mobile apps.

The senator said online gambling proliferated while losses piled up for wage earners, students and low-income families “whose lives have been lost or destroyed by betting online.”

The soaring cost of living and financial pressures on families have forced six in 10 parents into debt to provide for their children.

That’s according to a survey of 2,000 parents of children aged 0–18, which examined the economic challenges and mounting debt families across America are facing.

Sixty-three percent of parents in debt admitted their financial situation is preventing them from providing for their children the way they’d like, significantly more than the 48% of parents without debt who feel the same way.

For parents in debt (77% of those surveyed), half (48%) said their debt is becoming “unmanageable.”

According to the survey from National Debt Relief — conducted by Talker Research…