NEW DELHI: The National Company Law Tribunal has given its approval to start insolvency proceedings against a subsidiary of realty firm Parsvnath Developers. It admitted a petition filed by three homebuyers against the subsidiary firm Parsvnath Landmark Developers for inordinate delay in the development of a project in Delhi and non-refund of their payment. The…
THE full story of Hanjin Heavy Industries and Construction Co.-Philippines (HHIC-Phil) Inc., once touted as the shining star of Subic Freeport and an inspiration to Philippine policy-makers who used it as part of their basis to list shipbuilding among the countrys most promising industries, will perhaps not be known anytime soon. It is a saga…
Finance Minister Arun Jaitley Thursday said Rs 80,000 crore has been recovered by creditors in 66 cases resolved by NCLT and around Rs 70,000 crore more is likely to be realised by March-end. Accusing the Congress of leaving behind a legacy of an “anachronic system” of resolving commercial insolvency, Jaitley said the NDA government acted…
NCLT appoints Yash Jeet Basrar as an interim RP to run the corporate insolvency resolution process of Parsvnath Landmark Developers. Photo: Ramesh Pathania/Mint New Delhi: The National Company Law Tribunal (NCLT) has given its approval to start the insolvency proceedings against realty firm Parsvnath Developers subsidiary, which is developing a housing project in the national…
The collapse of construction group Carillion earlier this year triggered a 20% spike in the the number of UK building firms becoming insolvent, according to a report. In a devastating knock-on effect for the sector, a total of 780 companies in the industry fell into insolvency in the first quarter of 2018 a one-fifth rise…
The number of Australians “going under” financially accelerated last year, with personal bankruptcies up 6.1 per cent over the year. Key points: Bankruptcies rose for the 3rd consecutive year in 2017 Queensland had the highest number of bankruptcies last year Men are more likely than women to declare bankruptcy The increase follows an almost…
Hong Kongs legislature decided on Thursday to wrap up its inquiry into the misconduct allegations against former leader Leung Chun-ying, after admitting it had not been able to get any first-hand information over the past 25 months. The decision came after the Independent Commission Against Corruption (ICAC) announced in December that its four-year investigation into…
Tianjin Quanjians fate has brought the issue of club ownership in Chinese football back to the fore. Following the arrest of pharmaceutical giant Quanjian Group chairman Shu Yuhui and 17 other members of the company the fall of their football club has been swift. The signs at the stadium have been dragged down and the…
Lenders to Amtek Auto on Wednesday asked the National Company Law Tribunal (NCLT) to restart the resolution process for the company as the lone bidder Liberty House failed to make any payment. The lenders have also asked for exclusion of the period Liberty House spent in considering the bid while…
NEW HYDE PARK, N.Y.–(BUSINESS WIRE)–Kimco Realty Corp. (NYSE:KIM) announced today transaction activity for the fourth quarter and full year 2018. 2018 Activity: During the fourth quarter of 2018, Kimco sold 16 properties and two land parcels totaling 1.9 million square feet for $357.1 million. Kimcos share of the sales price was $228.4 million. For the…