The National Company Law Appellate Tribunal (NCLAT) has said that the National Company Law Tribunal (NCLT) should not hear any third party other than the applicant who has taken a company to the NCLT and the company which is the corporate debtor itself. We may observe that except the applicant (financial…
Jan 19, 2019- Tanahu Hydropower Limited has given a contract commencement date to the two companies hired for the execution of the 140MW Tanahu Hydropower Project. The project developer, a subsidiary of the state-owned Nepal Electricity Authority, on Wednesday directed CMC Ravenna of Italy and Sinohydro Corporation of China to mobilise workers for the project…
The former chief executive of a failed investment firm has been given just over two weeks to pay a record 76m fine by the City regulator. The Financial Conduct Authority formally imposed the huge fine on Stewart Ford yesterday over his role in one of the UKs largest investment scandals. He must find the funds…
Bankruptcy Chapter 11by Nick Youngson As explored in PG&E Under Flame, Californias top utility is proving be a fascinating and frustrating case study of what happens when companies put profit over people. To recap; state authorities are heavily investigating PG&Es role in causing the Camp Fire that claimed at least 87 lives in November. Alongside…
The banking system of Ukraine has made profit for the first time in five years. NBU Governor Yakiv Smolii said this during his speech in the Verkhovna Rada, Ukrinform reports. There are 77 banks in Ukraine, including 4 state-owned and 22 banks with foreign capital. The banking system is not only stable, well-capitalized and transparent,…
Rolta India, which is among the leading IT and geospatial companies of the world, is in dire financial straits. The companys strategy to make itself debt free in India by divesting its global products and solutions business has failed, reported Hindu Business Line. Rolta planned to raise $25 billion(INR25,000 crore) by divesting to restructure bonds.…
The former chief executive of a failed investment firm has been given just over two weeks to pay a record 76m fine by the City regulator. The Financial Conduct Authority formally imposed the huge fine on Stewart Ford yesterday over his role in one of the UKs largest investment scandals. He must find the funds…
The Central Insolvency Commission, a Romanian state institution dealing with personal insolvency, has calculated that a two-parent family with two children, residing in the city, can live reasonably on RON 2,600 (EUR 557) per month. This is the minimum value of the consumer basket that provides a reasonable monthly living for a family of four,…
This move will reduce the burden on the NCLT to hear cases and pass an admission order and hence the tribunals can focus on the core issues of insolvency cases Mumbai: The government is mulling introduction of a procedure of deemed admission of companies under the Insolvency and Bankruptcy Code (IBC). In certain cases where…
Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax company, believes personal insolvencies may have reached their peak, but addressing the stigma of debt is vital to achieve better outcomes for consumers. Debt is at record levels with personal credit now exceeding 215 billion or 4,100 for every adult in the UK. However,…