Ahmedabad: The Gujarat High Court on Thursday directed for placing on the record before it an RBI directive to a consortium of 22 lenders to initiate insolvency proceedings against Essar Steel following its high Non-Performing Assets (NPAs). Hearing the 4 July petition filed by the major steelmaker to seek quashing of insolvency proceedings, a single bench…
Women are increasingly more likely than men to see their finances deteriorate so badly that they become insolvent, official figures show. The rate of female insolvencies across England and Wales first overtook that for men in 2014 and since then the insolvency gender gap has widened. In 2016, for the first time, women were more…
Greens senator Scott Ludlam has resigned from the Senate after discovering he still had New Zealand citizenship, in breach of the Australian Constitution. Ludlam, born in Palmerston North, moved to Western Australia when he was 3, and only discovered he was a dual citizen last week. He was elected to the Senate in 2007 and…
The co-deputy of the Greens, Scott Ludlam, has resigned from Parliament after discovering he was ineligible to stand at last year’s federal election. Play Video Don’t Play Mackay ‘didn’t believe anyone would kill him’ Play Video Don’t Play Video duration 02:21 Previous slide Next slide Video duration 01:27 This is bigger than a leaflet: Di…
The chief executive officer of global security services provider Securitas has been declared bankrupt after falling victim to identity theft. Alf Göransson, who is also the president of Securitas, discovered in April that a falsified loan application had been made in his name the month before, and reported the matter to the police. The loan…
New Delhi, Jul 13 () The National Company Law Tribunal (NCLT) today issued notices to Bhushan Steel Ltd and Bhushan Steel and Power Ltd over insolvency proceedings initiated by their lenders State Bank of India and Punjab National Bank. The Principal Bench of the NCLT headed by its President Justice M M Kumar has directed…
MILAN, July 12 (Reuters) – Italian banks must improve the quality of bad loan data and use them to understand when to raise provisions on debts which are yet to be declared insolvent, the central bank governor said on Wednesday. A harsh recession which ended in 2014 saddled Italian banks with impaired debts that are…
The chief executive of the Swedish security firm Securitas was declared bankrupt this week after his identity was stolen. Securitas CEO Alf Göransson had his personal identification stolen at the end of March, when someone applied for a loan in his name, the company said in a statement. The hacker used Göransson’s identification to seek…
Everyone is at risk of cybercrime, but it must really sting if you’re hacked while running the biggest security firm in the country. That’s what happened to Alf Göransson, chief of Swedish company Securitas, who was declared bankrupt this week after his identity was hijacked. Reports indicate an unidentified culprit used the CEO’s stolen details…
NEW DELHI: The National Company Law Tribunal (NCLT) today issued notices to Bhushan Steel Ltd and Bhushan Steel and Power Ltd over insolvency proceedings initiated by their lenders State Bank of India and Punjab National Bank. The Principal Bench of the NCLT headed by its President Justice M M Kumar has directed Bhushan Steel and…