New Delhi: Essar Steel has moved the Gujarat High Court against insolvency proceedings initiated by the banks on the direction of the Reserve Bank (RBI). The high court issued notice to the RBI and leader of the banking consortium SBI and posted the matter for Friday, sources said. When contacted, a company spokesperson said: “Essar…
Comments Share via email Share on facebook Share on twitter Share on LinkedIn One of the current personal finance trends I find most interesting is the greater role parents are taking in helping their adult children financially. Theres no doubt that a weak economy is part of this story. As I reported recently, some members…
The number of healthcare professionals in debt and seeking help with their personal finances has increased by 9.8% over the last two years. In May 2017, of employed people seeking help with their personal finances, 7.38% worked in the healthcare industry, and of these 37.11% were nurses. This is up from 7.22% in May 2016,…
MUMBAI: The clock has started ticking for Jyoti Structures, the first of the 12 large defaulters against which banks have proceeded under the under the Insolvency and Bankruptcy Code following directions from the Reserve Bank of India. The National Company Law Tribunal (NCLT) on Tuesday admitted bankruptcy proceedings against the Mumbai-based company, a move which…
A multimillionaire industrialist known as Britain’s “man of steel” has won the bidding battle for Arrium, ending more than a year of uncertainty for the collapsed South Australian steelmaker. British consortium GFG Alliance, led by metals magnate Sanjeev Gupta, trumped a rival proposal from a South Korean group on Tuesday night and Arrium administrators KordaMentha…
Ahmedabad: Essar Steel Ltd has approached the Gujarat high court, challenging the insolvency proceedings initiated against it at the National Company Law Tribunal (NCLT) by its lenders after being directed by the Reserve Bank of India (RBI). A company official said that the matter will be heard in the high court on 7 July. More…
July 5 (UPI) — On this date in history: In 1865, William Booth founded the Salvation Army in London. In 1916, children under 16 were banned from New York City theaters, many of which were already closed, due to a summer outbreak of polio. In 1935, U.S. President Franklin D. Roosevelt signed the National Labor…
AFP on July 5, 2017, 5:20 pm A former business partner of German tennis star Boris Becker, who was last month declared bankrupt, is demanding the payment of 36.5 million euros ($54.4 million) which he claims he is owned by the former world no.1. Swiss businessman Hans-Dieter Cleven claims he is owed 40 million Swiss…
THE ROAD Transport industry has reached out in support of the drivers who recently lost their jobs in the liquidation of Alstonville based company Flynn Transport. In response to the news of the insolvency that left over 60 heavy vehicle workers out of a job, a number of NSW companies have put their hands up…
By: Rob McKay Date: 05.07.2017 Police probe allegations of fraud as insolvency process begins Flynn Transport has come to an abrupt halt Instead of looking forward to a new financial year, Flynn Transports trucking business is in…