In order to help smaller companies the government is reviewing the insolvency provisions, including recent amendments barring defaulting promoters from bidding for their own assets undergoing insolvency. The committee, formed in November and chaired by the secretary, ministry of corporate affairs, and includes members involved in the drafting of the IBC, has already met to…
MUMBAI: The wait for framing final regulations to punish high profile individuals, including promoters, who have given personal guarantees for corporate loan defaulters may soon be over as the regulator is set to make a call on the matter next week. The governing body of Insolvency and Bankruptcy Board of India (IBBI) is expected to…
PETALING JAYA: They lived the fast life, a life of Pradas and Guccis. When the cash is out, they max out on their credit cards. Some even go as far as taking up personal loans to finance overseas trips, buying the latest expensive gadgets and holding lavish weddings. And before they even turn 30, they…
Maurizio Zamparini assures Palermo wont go bankrupt – everyone can think what they want, but Ive never stolen a Euro. Bankruptcy proceedings have been opened against the Sicilian club, with allegations that theres a 70m hole in their accounts. The website Il Sole 24 Ore reported last month that the problem arose from repeatedly selling…
, ET Bureau| Updated: Dec 12, 2017, 08.38 PM IST EXPAND TO VIEW ALL Mumbai: Insolvency and Bankruptcy Code seems to be cure-all for every default in this country with the Bombay Stock Exchange deciding to file proceedings for its unpaid fees. Select listed companies have failed to pay annual listing fees to BSE despite…
Dec 12 (Reuters) – BSE Ltd: * BSE TO FILE PROCEEDINGS AGAINST DEFAULTING LISTED COMPANIES UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016 * PROCEEDINGS FILED AGAINST 7 DEFAULTING COS BEFORE NCLT, MUMBAI ON ACCOUNT OF THEIR FAILURE TO PAY ANNUAL LISTING FEES OVER PERIOD OF TIME * SIMILAR ACTION BEING ENVISAGED AGAINST OTHER COMPANIES TOO *…
Pictured (l-r): Partners Richard OSullivan and Declan Murphy with new senior associates Claire Colfer, Julie Sweeney, Raymond Lambe and Andrew Croughan OSM Partners has announced the appointment of four new senior associates within the firms corporate and commercial litigation, mortgage litigation, property, and personal insolvency practices. We would like to congratulate Andrew, Claire and Julie…
MUMBAI: Equipment maker Ericsson has roped in senior counsel Darius Khambata to represent it in its insolvency petition against Reliance Communication (RCom) at the National Company Law Tribunal (NCLT). Khambata is also representing China Development Bank (CDB) in its insolvency plea against the Anil Ambani owned company to recover dues worth $1.78 billion (Rs 11,460…
Pictured (l-r): Partners Richard OSullivan and Declan Murphy with new senior associates Claire Colfer, Julie Sweeney, Raymond Lambe and Andrew Croughan OSM Partners has announced the appointment of four new senior associates within the firms corporate and commercial litigation, mortgage litigation, property, and personal insolvency practices. We would like to congratulate Andrew, Claire and Julie…
Its highly unlikely that, in the two weeks before Christmas, the executive team at Toys R Us can do much to goose the bankrupt companys sales. The merchandise has been bought, the advertising circulars have been printed, the commercials filmed. The hard work of selling is now up to the front-line employees who, according to…