New Delhi, August 27 The Finance Ministry has asked public sector banks to monitor cases where insolvency proceedings could be initiated against individuals who are guarantors of corporate debtors that have defaulted on loans. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets. The Code also provides for…
Good morning. Heres Yahoo Finances Friday morning wrap. ASX: The ASX is expected to lower, ahead of results from Village Roadshow, Boral and Costa. Futures were down early on Friday morning, after the ASX200 finished 0.16 per cent higher on Thursday. Wall Street: Wall Street had a mixed day on Thursday local time, with both…
NEW DELHI/ MUMBAI: Delhi High Court on Thursday stayed personal bankruptcy proceedings against Anil Ambani, chairman of Reliance Group, even as it restrained him from selling or transferring any of his personal assets. The order comes as great relief for Ambani, who had moved the high court on Wednesday against the appointment of a resolution…
In a big relief to Reliance Group Chairman Anil Ambani, the Delhi High Court on Thursday stayed Insolvency & Bankruptcy Code (IBC) proceedings against the tycoon in a matter pertaining to a personal guarantee given by him against a loan taken from State Bank of India (SBI) by Reliance Communications Ltd (RCom) and Reliance Infratel…
After the murder of insolvency administrator Mrti Bunkus, two of his safes in SEB Bank and ABLV Bank were emptied, Ir magazine reports with reference to sources. Both of the safes in question were registered on the name of Bunkus grandmother, but her grandson was the one who used them. In ABLV Bank Bunkus used…
An Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission…
If you are a retiree in Australia, there is a range of government financial help available if you meet eligibility requirements. Contrary to popular belief, there is no official retirement age in Australia. You can retire at any age you like, provided you can afford it. You can also work for as long as you…
KUALA LUMUR: The Dewan Rakyat passed amendments to the Insolvency Act to increase the bankruptcy threshold from RM50,000 to RM100,000. The Insolvency (Amendment) Bill 2020 was passed with a simple voice vote in the House. Minister in the Prime Minister’s Department Datuk Takiyuddin Hassan said the bankruptcy threshold was increased as a responsive move by…
Many businesses already closed in the months following the start of the MCO will not benefit from the Covid-19 bill. KUALA LUMPUR: Opposition MPs say they support the Covid-19 bill to reduce the impact of the Covid-19 crisis but it is too little, too late for retailers and jobless Malaysians who have been evicted from…
New Delhi: At a time when business owners such as Anil Ambani and Venugopal Dhoot are trying to defend their family assets from getting attached as lenders stake claim on loans with personal guarantees, a little known Delhi-based businessman could provide much needed succour. In a recent ruling, the Delhi High Court has stayed personal…