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The insolvency appellate tribunal NCLAT has ruled that the Committee of Creditors (CoC) cannot modify an approved resolution plan to reallocate funds meant for dissenting financial creditors, reaffirming limits on the exercise of commercial wisdom after a plan has been cleared, PTI reported.Dismissing an appeal filed by Bank of Baroda in the insolvency proceedings of Reliance Communications Infrastructure Ltd (RCIL), a two-member bench of the National Company Law Appellate Tribunal said that once a resolution plan is approved, the assenting members of the CoC cannot alter its financial distribution framework.“It is true that the CoC with commercial wisdom can take a decision regarding different aspects of the plan, including manner…

A tiny island was once hailed as one of the richest in the world before it went bankrupt. Nauru, an island nation in the Pacific Ocean is home to a mere 12,000 people, with a stunning coastline and beautiful beaches.

But the couple of hundreds visitors who go there each year may not be aware that the country enjoyed a brief period of immense wealth due to phosphate reserves originally discovered in the early 1900s. They were originally mined by colonial powers including Britain and Germany, but when Nauru eventually gained independence in the 1960s, it took control of the mines and used the resources to build a booming economy.

A New York Times report from 1982 said at the time that Nauru was the “smallest and wealthiest independent…

[SINGAPORE] An application for a moratorium by a group of eight companies, including Autobahn Rent A Car, was dismissed by the High Court on Friday (Dec 26).

The group had sought a six-month moratorium and a scheme of arrangement in an application heard by Judicial commissioner Sushil Nair.

In earlier court filings seen by The Business Times, 22 creditors opposed the application.

With an extended moratorium no longer on the cards, it opens up the group to creditor actions and insolvency proceedings, which may include being wound up.

The eight companies are: Autobahn Rent A Car, Hamilton Autohub, Hamilton Capital, Shinsei…

Multi-asset allocation mutual funds have emerged as the standout performers among funds launched in 2024 and carried that momentum into 2025, as volatile markets rewarded diversification over concentrated bets. With equities facing periodic corrections, debt returns staying modest and commodities delivering outsized gains, balanced portfolios proved far more resilient than single-asset strategies. The uneven performance across asset classes reinforced a simple lesson for investors: asset allocation mattered more than asset selection.

The strength of multi-asset funds lies in their ability to flexibly combine equities, debt and commodities within a single structure. In 2025, this flexibility paid off handsomely. Equities moved largely…

Some New Yorkers paid more than double the price for items they thought they owned. The state now says they shouldn’t have owed a dime.

Attorney General Letitia James announced a settlement that delivers $2.4 million in debt relief to 835 New Yorkers misled by Monterey Finance, a debt servicer that disguised lease agreements as traditional consumer financing.

Leases sold as purchases

State investigators found Monterey partnered with retailers to offer what looked like standard financing at checkout. Consumers believed they were buying items or services. In reality, they were signing lease agreements.

Those leases came with stacked fees at the start and end of the term, plus monthly payments. By the time the contracts ended, many…

The Supreme Court recently appointed a three-member committee headed by a former Chief Justice of the J&K High Court to oversee the insolvency process of real estate giant M/s Supertech Realtors.The bench of CJI Surya Kant and Justice Bagchi appointed the 3-member committee consisting of Justice MM Kumar, former Chief Justice of J&K High Court; former NBCC Chairman Anoop Kumar Mittal…

Are mounting debts and financial pressure making you feel stuck despite sincere efforts? When money worries continue for long periods, they can disturb peace of mind and shake confidence in the future. Many devotees believe that when debts keep returning and savings do not stay, it is not only a financial issue but also a blockage in Lakshmi Kripa (the flow of Maa Lakshmi’s grace). According to Hindu beliefs, wealth is not just earned through effort alone; it is sustained through divine balance. When this balance is disturbed, even hard work may not give stability. In such times, devotees turn towards Maa Gaja Lakshmi, the form of Maa Lakshmi who blesses with abundance, dignity, and lasting prosperity. She is worshipped by lakhs of…