NEW DELHI: A single court in Mumbai will hear matters pertaining to bankruptcy proceedings of 15 Videocon group companies pending in multiple courts, the National Company Law Tribunal (NCLT) ruled on Wednesday. NCLT president, Justice MM Kumar, directed that all insolvency proceedings initiated by the State Bank of India against the Videocon group be adjudicated…
This articleoriginally appearedon The Conversation, and is republished under a Creative Commons licence. One winnerfinally emergedfor the $1.537 billion Mega Millions jackpot. Research suggests the as-yet unidentified winner may not be so lucky. Thejackpot swelledto that huge sum after the 25 drawings held since the end of July failed to yield a winner. That makes…
The principal bench of the National Company Law Tribunal (NCLT) on Wednesday directed to transfer all insolvency petitions related to Videocon group being heard in Mumbai courts to a single court there. NCLT President Justice M M Kumar directed to transfer all insolvency petitions related to Videocon group to one court headed by M K…
One winner finally emerged for the US$1.537 billion Mega Millions jackpot. Research suggests the as-yet unidentified winner may not be so lucky. The jackpot swelled to that huge sum after the 25 drawings held since the end of July failed to yield a winner. That makes it the second-largest lottery grand prize the world has…
Videocons businesses, especially in consumer electronics and home appliances segment, are dependent on each other, according to State Bank of India. Photo: Pradeep Gaur/Mint Mumbai: The State Bank of India (SBI) wants to appoint an adviser to liaison among the separate resolution professionals (RPs) and prospective bidders for the 15 Videocon group entities that it…
Regarding Sears bicycle business, mainly U.S. suppliers are affected by this bankruptcy. For example, Kent International Inc. is assembling bicycles for Sears. Since the opening of a completely new bicycle factory in South Carolina about four years ago Kent offers close to market production for its private label and OE-business. How Sears financial troubles would…
The Bank of Canada (BoC) is widely expected to raise its trend-setting interest rate by another quarter of a percentage point to 1.75 per cent, on Wednesday. It would be another step in the gradual move toward higher rates under the stewardship of BoC governor Stephen Poloz. And it could also nudge a growing number…
Photo by Mario Tama/Getty Images Sears was founded by Richard W. Sears and Alvah C. Roebuck 132 years ago. It was initially a watch company, but quickly expanded and became a major catalogue retailer. For more than 100 years, it was a cornerstone of American retailing. But, its glorious story might be coming to an…
Nearly half say they are already feeling the effects of the interest rate increases, up 7 points since June One-third express concern that rising rates could move them towards bankruptcy, up 6-points since June Over half are concerned about their ability to repay their debts if interest rates continue to climb, up 3 points since…
By Petros Kausiyo ZIFA president Philip Chiyangwa has demanded that his leadership be accorded respect as they battle to keep national football afloat in a tough operating environment under which many an institution could easily have closed shop. The association has battled long and hard in a harsh economic climate to ensure that national teams…