Ahmedabad: Essar Steel Ltd has approached the Gujarat high court, challenging the insolvency proceedings initiated against it at the National Company Law Tribunal (NCLT) by its lenders after being directed by the Reserve Bank of India (RBI). A company official said that the matter will be heard in the high court on 7 July. More…
July 5 (UPI) — On this date in history: In 1865, William Booth founded the Salvation Army in London. In 1916, children under 16 were banned from New York City theaters, many of which were already closed, due to a summer outbreak of polio. In 1935, U.S. President Franklin D. Roosevelt signed the National Labor…
AFP on July 5, 2017, 5:20 pm A former business partner of German tennis star Boris Becker, who was last month declared bankrupt, is demanding the payment of 36.5 million euros ($54.4 million) which he claims he is owned by the former world no.1. Swiss businessman Hans-Dieter Cleven claims he is owed 40 million Swiss…
THE ROAD Transport industry has reached out in support of the drivers who recently lost their jobs in the liquidation of Alstonville based company Flynn Transport. In response to the news of the insolvency that left over 60 heavy vehicle workers out of a job, a number of NSW companies have put their hands up…
India’s incipient battle against bankruptcy is spawning new ideas – and career options. After India enacted tougher laws to deal with sticky loans and the central bank stepped in accelerate the pace of recoveries, finance executives have stumbled upon a career-growth opportunity based, ironically, on insolvency. Independent insolvency professionals (IPs), are becoming critical for the…
Ahmedabad/Mumbai: Essar Steel Ltd has approached Gujarat high court on Tuesday, challenging the insolvency proceedings initiated against it at the National Company Law Tribunal (NCLT). A communique from the company said that the HC will further hear its petition on July 7. While no further official details are available, an executive close to the company…
Tennis legend Boris Becker went on a Twitter rant to insist that he is not bankrupt, despite bankruptcy proceedings being brought against him when he failed to pay millions of dollars of debt. The 49-year-old, three-time Wimbledon champion claims to be “surprised and disappointed” and also that he has the “means to repay this debt.”…
Written by ENS Economic Bureau | Mumbai | Published:July 5, 2017 3:12 am According to the NCLT order on Tuesday, the board of directors of Jyoti will be suspended and consultancy firm BDO would manage the company. The National Company Law Tribunal (NCLT) has decided to initiate bankruptcy proceedings against debt-laden Jyoti Structures under the…
Lavan has appointed six lawyers to new positions in the firm, with a litigation expert welcomed to the partnership. Cinzia Donald was made the newest partner of the regional firms litigation and dispute resolution team. Acting for public and private companies and high-net-worth individuals, she manages complex commercial litigation in superior jurisdictions, including the Supreme…
NEW DELHI: Essar Steel has moved the Gujarat High Court against insolvency proceedings initiated by the banks on the direction of the Reserve Bank (RBI). The high court issued notice to the RBI and leader of the banking consortium SBI and posted the matter for Friday, sources said. When contacted, a company spokesperson said: “Essar…