In a recent judgement which could have wide-reaching ramifications, the National Company Law Appellate Tribunal (NCLAT) upheld the order of the National Company Law Tribunal (NCLT) that set aside termination of a power purchase agreement (PPA) between the corporate debtor, Lanco and the Gujarat distribution licensee, GUVNL. It held that the Insolvency and Bankruptcy Code,…
Business Changes to the personal insolvency system, including reducing the default period of bankruptcy from three years to one year and tougher sanctions against dodgy advisers, have now been floated by the government. Business Jotham Lian 18 January 2021 1 minute read object(stdClass)#17022 (8) { [“image_intro”]=> string(65) “images/articleimages-391×261/850×492/Parliament-house-new1-ad.jpg” [“float_intro”]=> string(0) “” [“image_intro_alt”]=> string(42) “Attorney-General floats…
In a statement issued on Saturday, the Egyptian parliament’s industrial committee said that the government’s decision to liquidate the 67-year-old Egyptian Iron and Steel Company should be a matter of careful study. “The liquidation process should be based on a logical review of the company’s performance in terms of losses and profits in the last…
Rockwell said on Friday it had entered an acquisition and amalgamation agreement with Bristow’s wholly-owned 1274787 BC Ltd. Under the deal, Rockwell shares – except those held by Bristow and any dissenting shareholders – would be exchanged for redeemable preferred shares in the amalgamated corporation, which would be immediately redeemed for C0.5c per share in…