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Gandhinagar, Dec 10 (KNN) The National Company Law Tribunal (NCLT), Ahmedabad, has held that an insolvency application cannot be dismissed merely on allegations of fraud or malicious intent unless supported by clear and cogent evidence.
Section 65 Requires Proof of Mala Fides
While admitting insolvency proceedings against Turnrest Resources, the NCLT held that Section 65 of the Insolvency and Bankruptcy Code (IBC) applies only when fraud or mala fides are proven with evidence, not mere allegations.
Case Background
The proceedings arose from a petition filed by HDFC Bank Ltd on July 11, 2025, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Turnrest Resources for a default of Rs 30.5…
The wholly owned units are Keppel Enterprise FinHub, Keppel Enterprise Services, and Keppel People Services
[SINGAPORE] Asset manager Keppel said on Wednesday (Dec 10) that three of its wholly owned subsidiaries – Keppel Enterprise FinHub, Keppel Enterprise Services, and Keppel People Services – have been placed under members’ voluntary liquidation.
The Business Times has reached out to Keppel for comment on this matter.
The liquidation of the subsidiaries is not expected to have any material impact on the net tangible assets or earnings per share of the company for the financial year ending Dec 31, 2025.
Shares of Keppel ended Wednesday 0.4 per cent or S$0.04 lower at S$10.11.
Decoding Asia newsletter: your guide to navigating…
Eurallumina’s continuity guaranteed for at least the first six months of 2026 with 9.6 million euros.
This was announced by the Ministers of Enterprise and Labor, Adolfo Urso and Marina Calderone, at the meeting convened at the Ministry of Enterprise and Made in Italy to discuss the company’s future.
“We supported the need to ensure Euroallumina’s production continuity, given the company’s desire to resume operations once the assets are released. We can confirm that the Financial Security Committee (the body responsible, among other things, for the implementation of international sanctions) shared this position,” the government officials stated.
According to reports, the State Property Agency has already formalized its request for funds…
Longstanding Australian transport operator Ron Crouch Transport has entered voluntary administration.
The business first served a client in 1978 after being founded by Ron and Beverley Crouch, offering transport and storage solutions.
Over 45 years, Ron Crouch Transport has specialised in general and dangerous goods freight, warehousing and third party logistics.
The sad news was confirmed by executive director Geoff Crouch in a social media post.
“It is with the heaviest of hearts that I have had to take the necessary action of placing Ron Crouch Transport under the control of a voluntary administrator,” he says.
“For the purposes of clarity and to ensure facts are not misrepresented, I stress that this is a voluntary…
Germany is experiencing its highest rate of company bankruptcies since 2014, with Creditreform Economic Research projecting around 23,900 insolvencies by the end of 2025. The increase reflects an 8.3 percent rise compared with last year, continuing a trend that saw bankruptcies climb more than 22 percent in both 2022 and 2023.
Furniture manufacturers, interior design firms, and smaller décor companies are among those hit hardest. Many medium-sized enterprises are heavily indebted and face challenges securing new loans, while micro-enterprises, often employing fewer than ten staff, account for over…
One man, buried under $20,000 in online gambling debt, became homeless. A woman lost $13,000 and missed her last five mortgage payments. A mother gambled away her son’s college tuition, piling up over $100,000 in debt.
Such dire stories — shared with gambling helplines in Pennsylvania and New Jersey in recent years — are on the rise. And for the growing number of people, the problem isn’t the casino, but the apps on their phones that let them gamble anywhere, 24/7.
“My family is hosting fundraisers for my son who had a stroke, and here I am, gambling on my phone,” one caller said. “What’s wrong with me?”
The Philadelphia media market — which encompasses the city, southeastern Pa., central and southern New Jersey —…
Australian jewellery retailer Secrets Shhh has been placed into administration, with a sales process underway in order to find a potential buyer.
Kate Warwick, Kelly Trenfield and John Park of FTI Consulting were appointed as joint and several administrators of the retailer’s parent company, Secrets International Pty Ltd, on Wednesday.
Secrets International and its other subsidiaries – including Secrets Wholesale, Secrets Shhh Leasing, Secrets Shhh Franchising, Secrets Shhh Retail Leasing, Secrets Online, Simudia and Secrets Leasing – are all subject to the voluntary administration.
Secrets Shhh is known for its affordable jewellery range as an alternative to luxury items – selling sustainably-sourced, laboratory grown and…
