HDFC Banks senior official has cautioned on use of the Insolvency and Bankruptcy Code (IBC) as various banks rush in to file large corporate non-performing loan accounts to the insolvency courts. “In general, the Code is good and one more resolution mechanism that has timeline around it. However, it should be used with prudence and…
LONDON (Reuters) – An alleged million-dollar pyramid scheme which is registered in Britain has gone into liquidation, the first step in the process of recovering its assets and distributing them to creditors. Reuters reported last year how the venture, known as EuroFX, allegedly scammed thousands of investors in China and other countries. EuroFX had a…
Too big, too expensive: Six reasons why Topshop flopped MELBOURNE, AUSTRALIA – JULY 30: People walk past the exterior of the new Top Shop multi-storey retail store at Emporium Melbourne on July 30, 2014 in Melbourne, Australia. (Photo by Scott Barbour/Fairfax Media via Getty Images) exit Six years after entering the Australian market with much…
Investigations Remgro responds to allegations of contrived liquidation. Thelo Wakefield (left) and Paul Zacks (right). Picture: Moneyweb Western Province Rugby was rocked by news over the weekend that its erstwhile minority shareholder, Remgro, had declined to take up a shareholding in the unions new commercial arm following the successful liquidation of Western Province Rugby (Pty)…
NATIONAL transport and logistics specialists Centurion are helping to reshape the Central Queensland landscape. The township has become one of three locations, including Mackay and Brisbane, where the family-owned Western Australian company have expanded in recent months. The timely move follows the liquidation of unassociated transport company McAleese in August last year, and its reincarnate,…
ECONOMICS lecturer turned national hotel-chain boss Sid Knell plans to “re-birth an iconic Rockhampton location. The Bridge Motor Inn caught the Central Apartment Group CEO’s eye as he looked to expand his Central Queensland footprint. The Bolsover St business went into voluntary administration in March, but Mr Knell said its central location and refurbishment potential…
A Hong Kong businessman is suing the company founded by the citys late father of concerts for unreturned investment costs and profits totalling more than HK$3.65 million over concerts staged across Asia by popular artistes, according to a court writ. Tang Wai-yip claimed in a High Court writ filed by his lawyers on Friday that…
Aug 07, 2017 10:40 AM IST | Source: Moneycontrol.com Adhunik Metaliks has informed that pursuant to an Order dated August 3, 2017 of the National Company Law Tribunal, Kolkata Bench, Corporate Insolvency Resolution Process (CIRP) has been initiated for Adhunik Metaliks Limited as per the provisions of the Insolvency and Bankruptcy Code, 2016. Adhunik Metaliks…
Amid reports the living conditions inside the Bachelor mansion are far from luxurious come fresh claims this year’s house is a “downgrade” from previous seasons. While there’s no denying the ladies and gents vying for the hearts of Matty J and Sophie Monk are living in a house ~slightly~ larger than your average home, the…
Written by Sunny Verma | New Delhi | Published:August 7, 2017 1:51 am he gross NPA of banks has risen to 9.6 per cent (of total advances) in March 2017, from 9.2 per cent in September 2016, as per the RBI data. Despite a series of steps to contain non-performing assets (NPAs), public sector banks…