Indian electric cab firm BluSmart has entered insolvency, an order from a company law tribunal showed, amid mounting corporate governance issues after a regulatory probe alleged its co-founder diverted funds meant for vehicle leases.
BluSmart suspended operations in April after India’s market regulator barred co-founder Anmol Jaggi from the securities market.
The ban followed allegations that Jaggi diverted funds from his publicly listed affiliate, Gensol, for personal use – including the purchase of a $5 million luxury apartment…
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The news on Wednesday that the Federal Reserve was keeping its benchmark interest rate frozen wasn’t exactly unexpected, but it still marked yet another major disappointment for borrowers. Saddled with high rates on everything from credit cards to personal loans to mortgages, the Fed’s decision this week all but ensures the status quo for around another two months, or until the…
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The move follows payment defaults totalling over ₹1.28 crore and adds BluSmart to a growing list of Gensol-linked entities now undergoing bankruptcy proceedings, including its parent Gensol Engineering Ltd and sister concern Gensol EV Leasing Pvt Ltd.
In an order dated 28 July, a two-member bench comprising Justice Shammi Khan (Judicial Member) and Sanjeev Sharma (Technical Member) admitted BluSmart into the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and…
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The National Company Law Tribunal (NCLT) at Ahmedabad has admitted BluSmart Mobility Limited into the Corporate Insolvency Resolution Process (CIRP) following a petition by Catalyst Trusteeship Limited over unpaid financial obligations totalling ₹1.3 crore.
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Singapore’s omnibus Insolvency, Restructuring and Dissolution Act, 2018 (IRDA), came into effect on 30 July 2020 and amalgamated its corporate and personal insolvency processes, which were previously in separate statutes. The IRDA also incorporated the UNCITRAL Model Law on Cross-Border Insolvency (Model Law) into Singapore law.
The IRDA, together with the lingering effects of disruptions and insolvencies brought about by the covid-19 pandemic, has resulted in more insolvency cases being litigated before the Singapore courts. We take a look at four judgments from the apex court, the Singapore Court of Appeal (SGCA).
Test for actual insolvency




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Medical debt relief to assist hundreds of thousands of Vermonters Milton Independent
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Credit card balances are hitting record highs across the nation, and many Americans are finding themselves drowning in monthly payments that seem to grow larger despite their best efforts. Part of the issue is that sticky (and rising) inflation is still impacting household budgets, as are the high rates that come with most borrowing tools right now. As a result, this is a particularly challenging time for…
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Beloved 159-year-old Home Depot rival closing, liquidating TheStreet
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Killarney Brewing & Distilling Enters Liquidation The Whiskey Wash
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A private equity-backed provider of care services to vulnerable patients across England is on the brink of insolvency, prompting Whitehall officials to draw up contingency plans for its collapse.
Sky News has learnt that NRS Healthcare, also known as Nottingham Rehab, is close to falling into compulsory liquidation after efforts to find a buyer were unsuccessful.
Sources said the Official Receiver was expected to step in owing to the importance of the services offered by NRS Healthcare, which provides living aids and equipment to elderly and vulnerable patients, many of whom have recently been discharged from hospital.
Money latest: Lottery ticket sales and payouts to pause this weekend
The company supplies wheelchairs,…
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FTC Issues Warning: Consumers Targeted by Debt Relief Scams ACA International






















