Insolvency Guardian Media Centre
The Kolkata bench of the National Company Law Tribunal (NCLT) directed the liquidation under section 33 of Insolvency Bankruptcy Code (IBC), 2016 in absence of Resolution Plan even after extending the time period.
he tribunal ordered the liquidation of Shomuk Consultancy Services Private Limited, the Corporate Debtor and Mr. Mahesh Chand Gupta is appointed as Liquidator.
Shomuk Consultancy Services Private Limited, filed an application to pass an order requiring the corporate debtor to be liquidated in the manner as laid down in Chapter III as provided under Section 33 of the Insolvency and Bankruptcy Code, 2016; and Appointment of Mr. Mahesh Chand Gupta as the Liquidator of the CD.
Corporate…
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Reliance Communications (RCom) is learnt to have urged the State Bank of India (SBI) to withdraw its decision classifying the debt-laden telecom operator and its promoter-director Anil Ambani as “fraud.” Company sources claimed the move was made “without giving Anil D. Ambani a chance to present his case.”
Once among India’s largest mobile service providers, RCom is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The resolution plan was approved by the Committee of Creditors and filed with the National Company Law Tribunal (NCLT), Mumbai, on March 6, 2020. The tribunal’s approval is still awaited.
In July, the government informed Parliament that SBI…
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Reliance Communications (RCom) is learnt to have urged the State Bank of India (SBI) to withdraw its decision classifying the debt-laden telecom operator and its promoter-director Anil Ambani as “fraud.” Company sources claimed the move was made “without giving Anil D. Ambani a chance to present his case.”
Once among India’s largest mobile service providers, RCom is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The resolution plan was approved by the Committee of Creditors and filed with the National Company Law Tribunal (NCLT), Mumbai, on March 6, 2020. The tribunal’s approval is still awaited.
In July, the government informed Parliament…
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An award-winning Melbourne restaurant which began as a delivery service during lockdown has gone bust.
1800 Lasagne graduated to a physical store in August 2020, winning a cult following, awards, and the patronage of Jamie Oliver in the inner-north suburb of Thornbury.
But external administrators have now been called in, and the business may be wound up, sold, or picked apart by people owed money.
“1800 Lasagne has entered into voluntary administration and we are working closely with the administration team to streamline and restructure our model to ensure we take the best steps while moving forward,” owner Joey Kellock posted online on Tuesday.
“Our loyal suppliers and our beloved staff will continue to be our highest priority…
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JCT Ltd, a leading manufacturer of filament yarn and composite textiles, has formally entered the Corporate Insolvency Resolution Process (CIRP) following an order of the National Company Law Tribunal (NCLT). An “Invitation for Expression of Interest” (EoI) issued by the Deemed Resolution Professional, Hasti Mal Kachhara, has now called for prospective resolution applicants.
The company’s major assets are located in Hoshiarpur and Phagwara, Punjab. According to the EoI, the last date for submitting an expression of interest is August 25, 2025, while the final list of eligible applicants will be released on September 18, 2025. Resolution plans are to be submitted by October 28, 2025.
For FY 2022–23, JCT reported…
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Average energy arrears among people seeking debt advice from StepChange Scotland have surged by 42% year on year, leaping from £2,464 in the first half of 2024 to £3,499 in the first half of 2025.
This sharp increase raises serious concerns about the ability of households to heat their homes this winter while repaying built up debt.
Council tax arrears have also risen steeply across the same time period, now averaging £2,385, a 13% increase on the previous year.
Higher household arrears are coupled with a worrying trend of increased borrowing on consumer credit. The proportion of StepChange Scotland clients citing the need for credit to cover everyday living costs as their…
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In a recent case, the National Company Law Tribunal (NCLT) New Delhi Bench has held that provisions of moratorium is not applicable to transactions which might be notified by Central Government and admitted the Insolvency application in establishment of default debt.
The Company Application filed under section 7 of the Insolvency and Bankruptcy Code, 2016 (“the Code”) by M/s Authum Investment & Infrastructure Limited seeking to initiate CorporateInsolvency Resolution Process (“CIRP”) against M/s Mohanbir Hi-Tech Build Private Limited (“Corporate Debtor”).
The Corporate Debtor was incorporated under the Companies Act, 2013. The application was filed before the Adjudicating Authority on the ground…
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In a recent ruling, the Chandigarh bench of the National Company Law Tribunal (NCLT) in view of the satisfaction of the conditions provided under section 33 of the Code, the Corporate Debtor, i.e., JM Feed Mills Private Limited, is directed to be liquidated in the manner as laid down in Chapter III of the Insolvency and Bankruptcy Code, 2016 (“Code”). The bench appointed Mr. Ashok Kumar Gupta as a liquidator of the corporate debtor i.e. JM Feed Mills Private Limited.
Somnath Gupta, Resolution Professional (“RP”/ “Applicant”) for JM Feed Mills Pvt. Ltd. (“Corporate Debtor”) under sub-section (2) of Section 33 of the Insolvency and Bankruptcy Code, 2016 (“Code”). It is prayed by the Applicant that an order for…
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Report reveals reasons behind administration of Gusto Restaurants Insider Media Ltd
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In the second quarter of 2025, the number of registrations of EU businesses increased by 4.6% compared with the first quarter of 2025.
At the same time, the number of bankruptcy declarations increased by 1.7% compared with the first quarter of 2025.
This information comes from data on business registrations and bankruptcies published by Eurostat today. This article presents a handful of findings from the more detailed Statistics Explained article on quarterly registrations of new businesses and declarations of bankruptcies.
Source dataset: sts_rb_q
Business registrations rose
In the second quarter of 2025, the number of business registrations increased across all sectors of the economy compared…
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Photo: 123rf
New Zealand’s largest mānuka honey producer Comvita is eyeing a company sale, amid challenging times in the global honey sector.
The listed health and wellness company announced on the NZX on Monday morning that its board voted in favour of a bid by Florenz, a subsidiary of investment firm Masthead, to buy the struggling business that just celebrated 50 years in operation.
The bid would see shareholders receive a cash price of $0.80 per share, representing an equity value of $56 million and an enterprise value of $119m.
The proposed sale would privatise the listed company.
The takeover offer came amid extremely challenging times for the company and the wider honey sector in recent years, as international…
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HHLA reports robust H1 2025 performance
German logistics company HHLA has had a very successful first half of 2025. Revenue (884,5 million euros) and EBIT (79,4 million euros) are up substantially,…