Insolvency Guardian Media Centre
The National Company Law Tribunal’s (NCLT) Ahmedabad branch initiated insolvency proceedings against cab-hailing platform BluSmart Mobility over a plea filed by financial creditor Catalyst Trusteeship, for a loan default totalling Rs 1.3 crore.
The Tribunal, comprising of Judicial Member Shammi Khan and Technical Member Sanjeev Kumar appointed NPV Insolvency Professionals Private Limited as the Interim Resolution Professional (IRP) for the insolvency process and ordered the commencement of the Corporate Insolvency Resolution Process (CIRP), imposed a moratorium under Section 14 and directed NPV to take charge of BluSmart’s assets within 7 days.
Moratorium and public notice timeline
The moratorium prohibits the initiation or…
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AMID credit card debt struggles worth tens of thousands of dollars, a woman sought the assistance of an unorthodox financial advisor.
Using OpenAI’s ChatGPT, she has put a significant dent in the money owed, and completely changed her habits.
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Realtor and content creator Jennifer Allan, 35, explained that she’d “struggled with money” for most of her life, or at least struggled managing it, per Newsweek.
Allan said that she was “never taught financial literacy” and “avoided budgeting” for years.
“I figured if I just kept working harder, I could out-earn the problem. That worked… until it didn’t,” she confessed.
Financials were further complicated in…
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The Albanese government’s signature student debt-slashing Bill has passed through the House of Representatives, bringing touted relief for millions of graduates one step closer.
While Labor could have passed the Bill with its massive 94-seat majority, the Coalition also backed it after Sussan Ley confirmed the opposition would not stand in the way.
But the Coalition’s guarantee is crucial to getting it through the Senate, where Labor does not hold a majority and the Greens have threatened to stall it in a bid to attach amendments.
Fronting media before the vote, the Opposition Leader said she still had concerns over the Albanese government’s broader response to the cost-of-living crisis, but that “we will not oppose the…
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In a relief for JSW Steel Ltd, the Supreme Court on Tuesday agreed to hear a review petition in open court against its 2 May verdict quashing the company’s ₹19,350 crore acquisition of Bhushan Power and Steel Ltd and ordering BPSL’s liquidation.
A bench led by Chief Justice B.R. Gavai and Justice Satish Chandra Sharma passed the order during a closed-chamber review hearing, allowing the matter to be heard in open court and issuing notice on the plea.
“Application(s) for listing review petition(s) in open Court and application for oral hearing are allowed. Issue notice. List these matters on 31.07.2025 at 03:00 p.m.,” the order stated.
This development comes as a relief for JSW Steel, providing it one final legal opportunity…
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The wheels have come off the fraud-hit BluSmart Mobility, once hailed as a pioneer in India’s electric ride-hailing startup, as the company has been formally admitted into insolvency by the National Company Law Tribunal (NCLT) in Ahmedabad.
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 Bankruptcy Code…
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Minority NPP accuses government of claiming credit for NPP’s debt relief gains Modern Ghana
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NCLT Admits Insolvency Plea against BluSmart Mobility Over Rs1.28 Crore Default Moneylife
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Tips to help break the credit card debt cycle fox8live.com
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