Insolvency process of realty projects needs to undergo a sea-change to provide relief to homebuyers: Santosh Pandey – The Financial Express

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Among all the sectors, the real estate sector has the lowest percentage of resolution of insolvency cases, with paltry 4% of the real estate cases getting resolved. The complex nature of the real estate business, which involves developers, bankers and customers among others, make successful resolution of cases extremely difficult. Needless to say, the process…

Digital advice 'market leader' in voluntary administration – Money Management

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Money Management can confirm that Advice Intelligence is in financial difficulty and has entered voluntary administration. Advice Intelligence has entered voluntary administration following the decision from their investor, Regal Funds Management (Phil King), opting to withdraw future funding. This decision is founded upon a landscape of high-interest rates, economic uncertainty, and the overall tightness of…

Asia Must Monitor Rising Corporate Debt Amid Higher Interest Rates – International Monetary Fund

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Asias increased borrowing in recent decades has augmented the regions exposure to rising interest rates and heightened market volatility. Borrowing by the regions governments, companies, consumers, and financial firms is well above levels prior to the global financial crisis, as we recently noted. In particular, industries that rapidly increased leverage while interest rates were low…

Nod to DS Group offer for Viceroy Bangalore Hotels – Economic Times

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The Hyderabad bench of the National Company Law Tribunal (NCLT) has approved Dharampal Satyapal Group’s resolution plan for Viceroy Bangalore Hotels. The hospitality company owns the Marriott-managed five-star Renaissance Bengaluru Race Course Hotel, and has around 1,100 crore of unpaid debt. The New Delhi-based acquirer has proposed 300 crore to buy the company in a…

IBC: Guarantors Liability Not Always The Same As The Borrower, Says Insolvency Tribunal – BQ Prime

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IBC: Guarantor’s Liability Not Always Co-Extensive With Borrower, Says Insolvency Tribunal Law & PolicyIBC: Guarantor’s Liability Not Always The Same As The Borrower, Says Insolvency Tribunal ADVERTISEMENT 24 May 2023, 7:17 PM IST 24 May 2023, 7:17 PM IST 24 May 2023, 7:17 PM IST WhatsApp Twitter Facebook Telegram Read the full article at: https://www.bqprime.com/law-and-policy/ibc-guarantors-liability-not-always-the-same-as-the-borrower-says-insolvency-tribunal

Orange Private Hospital enters administration amid 'uncertain times' for staff – ABC News

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A private hospital in the New South Wales central west has entered voluntary administration less than two years after opening.  Key points: Orange Private Hospital employs almost 100 staff and surgeons Administrators say their objective “is to secure the long-term” future of the service The hospital opened less than two years ago  The Orange Private Hospital employs…

JSW Steel to acquire National Steel and Agro Industries for 621 cr | Mint – Mint

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JSW Steel on Monday announced that its wholly-owned subsidiary  JSW Steel Coated Products Limited (JSWSCPL) will complete the acquisition of National Steel and Agro Industries (NSAIL) for a total consideration of 621 crore. JSW Steel Coated Products, wholly-owned subsidiary, got approval in respect to corporate insolvency resolution process of NSAIL. JSW Steel Coated Products Limited…