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Electric ride-hailing startup Blu-Smart Mobility has been admitted into corporate insolvency resolution proceedings (CIRP) by the National Company Law Tribunal
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Bowen Coking Coal has appointed Mark Holland and Shaun Fraser of McGrathNicol Restructuring as voluntary administrators. The decision follows the company’s inability to secure fresh capital or reach an agreement with BUMA and the Queensland government. Bowen Coking Coal is a Queensland-based company focused on developing metallurgical coal projects. Metallurgical coal is an essential component in steel production.
The embattled coal miner, whose shares were recently suspended from trading on the ASX, stated it was unable to negotiate alternative commercial arrangements with its two largest creditors, BUMA and the Queensland Revenue Office, and its senior secured lender. A contract dispute led Indonesian contracting giant BUMA to…
When the National Company Law Tribunal (NCLT) was established in 2016 as the unified adjudicatory forum for company law, it bore the promise of timely, specialised justice in a space long weighed down by fragmented forums and procedural drift. That same year, the Insolvency and Bankruptcy Code (IBC) positioned the NCLT and its appellate counterpart, the NCLAT, at the heart of India’s corporate legal architecture.
Nearly a decade later, while the NCLT has demonstrably influenced debtor behaviour and brought overdue discipline to corporate defaults, it now needs its own reset — a version 2.0 that addresses design flaws, infrastructural gaps, and systemic inertia. This is not merely about caseload or litigant conduct, but also…
Just in: the number of companies in England and Wales falling into insolvency dropped last month.
The InsolvencyService has reported that there were 2,043 registered company insolvencies in England and Wales in June, 8% lower than in May 2025 (2,230) and 16% lower than in June 2024, when 2,430 companies failed.
That could ease some concerns over the health of the UK economy, as companies tackle rising inflation and higher taxes.
A chart showing company insolvencies in England and Wales Photograph: The Insolvency Service
Despite the drop, monthly company insolvency numbers in the first six months of 2025 were slightly higher than the second half of 2024, but remain lower than the 30-year annual…
Electric ride-hailing startup Blu-Smart Mobility has been admitted into corporate insolvency resolution proceedings (CIRP) by the National Company Law Tribunal (NCLT), Ahmedabad. The order, pronounced on July 28, 2025, follows a petition filed by debenture trustee Catalyst Trusteeship Limited, citing a default of ₹1.28 crore on non-convertible debentures (NCDs). This marks Blu-Smart as India’s first major EV ride-hailing firm to enter insolvency.
BluSmart had issued 15 secured NCDs worth ₹15 crore to Catalyst (acting for InCred Credit Opportunities Fund-I) on April 20, 2023, to fund its EV fleet operations. The debt carried a 24-month tenor with staggered principal repayments starting April 30, 2023. The default…
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Choosing the right tax relief company requires careful research and due diligence, but the work you put in can pay off.
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If you owe back taxes, finding a way to resolve the issue can be tough, especially if the Internal Revenue Service (IRS) starts sending letters, placing liens or threatening levies. In these situations, time isn’t on your side. The longer it takes to resolve your tax debt, the more serious the repercussions become. So, if you’re staring at an unpaid IRS tax bill, you need to deal…
