The insolvency law committee (ILC) that recently came out with recommendations on cross border insolvency essentially based on the UNCITRAL Model Law has proposed a presumption of default trigger to start insolvency proceedings in India. This, if the insolvency proceedings in the corporate debtors COMI (centre of main interest) has been recognised in India. Under…
Dear Sir / Madam, We would like to inform you that 6th meeting of Committee of Creditors of Sterling Biotech Limited was held on Monday, 29th October 2018 at 12.00 noon IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India. You are requested to take the same on…
The way Nirav Modis entities have filed for bankruptcy in the US, ominously reveals the ingenious ways in which Indian companies through their multi-layered structures, move cash and other assets to other jurisdictions. Some of the US court filings have clearly suggested that assets of Modis entities in the US may have been obtained by…
There are fresh fears 110-year-old foundation club Balmain Tigers is on the verge of folding after the Balmain Leagues Club (BLC) was officially placed into voluntary administration. More than a century of sporting history could come to a premature end after the latest drama involving the new owners of the Leagues Club site at Rozelle.…
Dear Sir / Madam, We would like to inform you that meeting of the 06th Committee of Creditors of Sterling Biotech Limited is scheduled to be held on Monday, 29th October 2018 at 12.00 noon IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India. You are requested to…
In compliance of Para 16(h) of Part A of Schedule III and Regulation 30, i.e. submission of particulars of invitation of resolution plan under section 25(2)(h) of Insolvency Code in Form specified under Regulation 36A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, copy of Form G containing required particulars is enclosed…
Venture Far, previously Venture Holidays, has gone into liquidation after 39 years in the industry. In a statement, the company cited the costs and challenges ofrunning the business as the reason for ceasing operations. The costs and challenges of being a boutique wholesaler, operating in a highly price driven, low margin industry have proven to…
In 1968, a group of parents and community members from the Cessnock region had a dream to provide work opportunities for people with disabilities, On November 9, 2018, that dream willofficially be over. Thats the day when the Endeavour Industries laundry at South Cessnock, its property care and maintenance division and box packing facility at…
In 1968, a group of parents and community members from the Cessnock region had a dream to provide work opportunities for people with disabilities, On November 9, 2018, that dream willofficially be over. Thats the day when the Endeavour Industries laundry at South Cessnock, its property care and maintenance division and box packing facility at…
In 1968, a group of parents and community members from the Cessnock region had a dream to provide work opportunities for people with disabilities, On November 9, 2018, that dream willofficially be over. Thats the day when the Endeavour Industries laundry at South Cessnock, its property care and maintenance division and box packing facility at…