MUMBAI: Indias Rs 7-lakh crore debt recovery isnt an exclusive opportunity for IIT-IIM alumni or top CAs to burnish their CVs: Thousands of ordinary graduates, with experience in the financial domain, may be part of the unprecedented exercise that requires a huge number of support staff to assist the decision-makers. The government is planning to…
MUMBAI: The National Company Law Tribunal (NCLT) has admitted Mumbai-based Guruashish Construction for insolvency proceedings as the company has failed to repay a Rs 250 crore debt with the lender – Union Bank of India hoping to recover the soured loan. It is evident that the corporate debtor defaulted in repaying the loan availed and…
Horst Piepenburg has been appointed as insolvency administrator after having conducted the preliminary proceedings. Piepenburg said last week he was in talks with a potential investor for the takeover of SolarWorlds German factories in Freiberg and Arnstadt. According to Reuters, the potential investor is the companys largest shareholder, which is Qatar Foundation. SolarWorld CEO Frank…
THE FORMER chief executive and manager of Grays Athletic has been declared bankrupt reports the London Gazette. Michael Henry Woodward, aged 55, of The Bungalow in Purfleet Road, Aveley had a petition filed against him on November 21st 2016. The bankruptcy order was made on June 6th, 2017. The petition was made by HM Revenue…
Former board members of the collapsed charity Kids Company including its founder, Camila Batmanghelidjh, and the former BBC chief Alan Yentob face being banned from serving as company directors from up to six years. The Insolvency Service has written to the former directors to tell them that the business secretary, Greg Clark, intends to bring…
Kids Company ex-directors facing bans 31 July 2017 From the section Business Image copyright Getty Images Business Secretary Greg Clark is to bring proceedings against former directors of the collapsed charity Keeping Kids Company to have them banned from company directorships. The Insolvency Service names former chief executive Camila Batmanghelidjh, Alan Yentob and seven others.…
By Press Association Published: 22:54 +10:00, 31 July 2017 | Updated: 22:54 +10:00, 31 July 2017 e-mail Former Kids Company boss Camila Batmanghelidjh and the charitys former chairman Alan Yentob face being disqualified from running companies under proceedings brought by the Government. The youth organisation folded amid a storm of controversy in August 2015 just…
Image copyright Getty Images Business Secretary Greg Clark is to bring proceedings against former directors of the collapsed charity Keeping Kids Company to have them banned from company directorships. The Insolvency Service names former chief executive Camila Batmanghelidjh, Alan Yentob and seven others. Kids Company – which provided support to deprived and vulnerable children –…
Despite speculation, One Nation Leader Pauline Hanson’s sister is not necessarily on track to join her sibling in the Upper House, according to the ABC’s electoral expert Antony Green. The chance of Judy Smith entering the Senate has arisen because there is doubt over whether One Nation’s Malcolm Roberts was a dual citizen when…
The aggregate debt involved in seven stressed companies, now cleared for insolvency proceedings, is Rs 1.3 lakh crore, a little over half the amount that these companies owe banks. With the NCLT (National Company Law Tribunal) allowing insolvency proceedings to be initiated against companies even if winding-up petitions are pending before high courts, provided these…