KOLKATA: Facor, one of Indias oldest producers of ferro alloys, is likely to be liquidated after the NCLT Kolkata bench was informed on Monday that its Committee of Creditors has rejected all bids. Facor has been under insolvency resolution process and the 270-day period for insolvency resolution of the company got over on April 2,…
NEW DELHI: The government will soon seek the law ministrys opinion on amendments to the Insolvency and Bankruptcy Code (IBC) suggested by a high-level committee and may move an ordinance to make urgent changes. The 14-member insolvency law committee headed by corporate affairs secretary Injeti Srinivas made a presentation on its final recommendations to the…
A HAPLESS hubby has been left bankrupt and homeless after his Indonesian wife gambled away £3.5million. FACEBOOK GAMBLE: Christoher Forte married Juliana Posman in 2014 Smitten Christopher Forte handed over cash after Juliana Posman claimed she needed to show £5million assets to get a visa. But his 38-year-old bride had run up millions…
Renaissance Steel India on Monday said it will file an application before the Kolkata bench of the National Company Law Tribunal (NCLT), challenging the decision of the Committee of Creditors (CoC) that Vedanta and Tata Steel are eligible bidders for Electrosteel Steels. We will be filing an application challenging the CoCs decision to consider Vedanta…
JK Paper is set to takeover the management of the ailing Sirpur Paper Mills, located at Kaghaznagar, with the resolution plan and and the approval of a consortium of lenders headed by IDBI, in the final stages. JK Paper has come up with a 628-crore resolution plan. Responding to the proposed move by JK Paper,…
The University of Newcastles student union says the federal government would be punishing students by lowering the threshold for uni loan repayments. But federal education minister Simon Birmingham says taxpayers are footing a bill of about $50 billion in student loans and something needs to change. Under the new law, graduates would have to start repaying their Commonwealth-funded student…
More than 21,000 retail jobs have been put at risk in the first three months of the year as store closures, company restructuring and Carillions collapse resulted in a bleak quarter for the industry. A Press Association analysis reveals that 21,413 staff have already been made redundant or had their role threatened, the bulk of…
NBC stations around the country are documenting the open wound of medical debt. “It baffles me,” said one viewer in Orinda. Another in Texas concluded, “Were screwed.” The dark cloud hangs over families everywhere. In fact, a Federal Reserve found that almost half of respondents had received a medical bill in the past year that…
The average debt of problem gamblers in Wisconsin reached $34,078 in 2017, according to data gathered by the Wisconsin Council on Problem Gambling (WCPG). Last year, the councils helpline received a total of 12,674 calls from local residents asking for help. The executive director of the Green Bay organization, Rose Blozinski, explained…
WAUKESHA, WI–(Marketwired – April 02, 2018) – Telkonet, Inc. (OTCQB: TKOI), (the “Company”, “Telkonet”), creator of the EcoSmart platform of intelligent automation solutions designed to optimize comfort, energy efficiency and operational analytics in support of the emerging Internet of Things (IoT), today announced financial results for the fiscal year ended December 31, 2017. Telkonet management…