By Sudhir Kaushik, Taxspanner.com Chennai-based engineer V. Srikanths income is reasonably high, but more than 18% of it goes in tax. Taxspanner estimates that Srikanth can cut his tax by over Rs 58,000 if his company rejigs his pay package and he saves more for retirement. If Srikanths company reduces his special allowance and puts…
Enterprise cloud giant Salesforce.com has been caught in the collapse of private training provider Careers Australia Group and potentially more technology suppliers, big and small, might be wandering in the debris field. Careers Australia entered voluntary administration in May shortly after it was stripped of accreditation for federal funding support. Administrator PPB has so far…
Becker struck the deal in 2013, partly brokered by a Nigerian employee of his But the investments tanked and last month he was declared bankrupt His lawyer told a London court that he is not financially ‘sophisticated’ Becker is bankrupt, and owes undisclosed sums to London bankers By Daily Mail Reporter Published: 07:47 +10:00, 17…
KOLKATA | MUMBAI: As banks try and resolve the bad loans that have burdened the industry, insolvency professionals stand to get a big career boost. Chartered accountants, cost accountants and company secretaries are said to be rushing to get themselves qualified in hundredsand this is just the beginning. If the bankruptcy process unfolds as its…
MUMBAI: Wind energy solutions provider Inox Wind (IWL) is challenging the National Company Law Tribunals Chandigarh bench order on insolvency, claiming it is solvent and in “excellent” financial health. ET had exclusively reported on Saturday that NCLT passed an order on July 5, clearing way for the insolvency of the company after an ‘operational creditor’…
Image copyright Getty Images Labour has an “ambition” to pay-off university students’ historic debt as well as abolishing tuition fees, according to its shadow chancellor. Appearing on the Andrew Marr Show, John McDonnell denied that Labour had watered down a pre-election pledge to “deal with” graduate debt. He said: “We’re going to try to. It…
Inox Wind Limited (IWL), which is facing insolvency proceedings over unpaid dues of Rs 57 lakh to its Customs agent, has asked the National Company Law Tribunal (NCLT) to quash the case. “IWL has preferred an appeal before the National Company Law Tribunal (NCLT), praying that the said proceedings be quashed. The matter…
A BUNDABERG retailer has been forced to close after a move to a new prime CBD location failed to boost flagging sales. J & A Davis Pty Ltd, trading as Bundy Hobbies and Toys, went into voluntary administration last month after receiving a statutory demand from the company’s major supplier, which it was unable to…
NEW DELHI: The Insolvency and Bankruptcy Code has segregated judicial and commercial aspects of the insolvency process whereby stakeholders have the right to decide on what suits them, IBBI chairperson M S Sahoo said today. The Code, which became operational in December last year, provides for a market-determined and time-bound insolvency resolution process. The Insolvency…