Construction firm HCC‘s real estate firm Lavasa Corporation will face insolvency proceedings with the NCLT on August 30 admitting plea of lenders of the debt-ridden realty firm. Lavasa Corporation is developing a hill city ‘Lavasa’ near Pune in Maharashtra. In a filing to the BSE, the HCC today said that the National Company Law Tribunal…
Luxury township Lavasa Corporation has been referred to the National Company Law Tribunal (NCLT) for insolvency proceedings by its operational creditors on Thursday. NCLT has appointed Devendra Prasad as Interim Resolution Professional under the provisions of the IBC, parent company HCC informed the stock exchanges. The National Company Law Tribunal vide its order dated 30/08/2018…
The Government will give new powers to the Insolvency Service to crack down on reckless directors who phoenix their firms. The Department for Business, Energy & Industrial Strategy (BEIS) has unveiled a series of new measures on corporate governance and insolvency which include new powers for the Insolvency Service to investigate directors of dissolved companies where they are suspected of…
PUBLISHED: 12:37 29 August 2018 | UPDATED: 12:37 29 August 2018 R3 Eastern chairman Mark Upton, partner at Ensors Chartered Accountants. Picture: Roger Barcham, BMS Imaging Roger Barcham, BMS Imaging A regional insolvency group has welcomed government moves to crack down on directors who diss… Read the full article at: http://www.edp24.co.uk/business/r3-government-crackdown-phoenixing-insolvency-service-east-anglia-1-5671718
Force India team principal Otmar Szafnauer said the team came within days of collapsing before going into administration and being bought by new owners. Szafnauer said described how close the team came to being declared insolvent, which would have forced it to close its doors. It was pretty close, he told media including RaceFans last…
Dr. Sarpong says the property has between 18 to 21 buildings in a gated community and not 6-blocks Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC) has confirmed, he once worked with Global Haulage Company Limited from which the GNPC bought a property worth $7.5 million. Despite his past association with the transport…
Even after the sanction of Rs 20,000 crore to GSPC, no oil or gas has been extracted, Mr Ramesh claimed New Delhi: Citing a Reserve Bank of India (RBI) notification, senior Congress leader Jairam Ramesh on Monday said that the State Bank of India should declare Gujarat State Petroleum Corporation (GSPC) as bankrupt by 5…
WONGA is on the brink of collapse after being inundated with compensations claims. Here’s what we know about the situation the payday loan giant’s current predicament. PA:Press Association Wonga is allegedly preparing for administration Will Wonga collapse? The company was kept afloat three weeks ago thanks to a £10million emergency cash injection from shareholders. But…
NEW DELHI: Congress on Monday alleged that government-run Gujarat State Petroleum Corporation (GSPC) owed over Rs 12,000 crore in loans to various banks, and accused the Narendra Modi-led BJP government of trying to prevent the company from being declared bankrupt. Congress MP and spokesperson Jairam Ramesh alleged that a Rs 20,000 crore scam had been…