The steel sector has turned out to be one of the major beneficiaries of the Insolvency and Bankruptcy Code (IBC), according to ratings agency ICRA Ltd. This could lead to improved plant utilisation and domestic steel supply. Out of the 40 large defaulting accounts identified by the RBI in 2017, 11 entities belonged to the…
Dear Sir/ Madam, Sub: Notice of Ninth Meeting of Committee of Creditors (CoC) of Uttam Value Steels Limited (Corporate Debtor) Pursuant to the provisions of Regulation 30 [Schedule III, Part A, Clause A (16) (g)] of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you…
The National Company Law Appellate Tribunal has stayed the ongoing liquidation of Bharati Defence and Infrastructure Ltd. The NCLAT directed that the liquidator will not take any steps to sell or transfer or alienate movable or immovable assets of the company. The Mumbai bench of the National Company Law Tribunal had ordered the liquidation in…
– Tannar Eacott Following the removal of a number of acts, NSW regional festival Mountain Sounds recently announced the cancellation of its fifth reincarnation. Today, news broke that the festivals company was going into voluntary liquidation. With this in mind, weve decided to investigate to find the deep-rooted causes of this festivals closure. Festival organisers…
Acting tough on an erring insolvency professional (IP), the Insolvency and Bankruptcy Board of India (IBBI) has cancelled the IP registration of Bhavna Sanjay Ruia, declaring her as not fit and proper to continue as an IP. The IBBI has also debarred Ruia from seeking fresh registration as an IP or providing any service under…
This is to inform you that the meeting of the Committee of Creditors (COC) of the Company is adjourned from Friday, 22nd February, 2019 to on Monday, 25th February, 2019 at 11.30 A.M and again adjourned to Tuesday, 26th February, 2019 at 04:30 P.M at the registered office of the Company situated at Plot No.…
The number of food and beverage companies entering insolvency rose 17.9% in 2018, according to analysis from real estate adviser Altus Group. Last year The Insolvency Service paid out 298.07m to former members of staff whose employers, from all sectors, had either entered administration, liquidation a CVA or another form of corporate insolvency. This included…
The number of food and beverage companies entering insolvency rose 17.9% in 2018, according to analysis from real estate adviser Altus Group. Last year The Insolvency Service paid out 298.07m to former members of staff whose employers, from all sectors, had either entered administration, liquidation a CVA or another form of corporate insolvency. This included…
Makeup artist Napoleon Perdis has actioned a Deed of Company Arrangement after placing his self-titled beauty brand in voluntary administration in January. Perdis, who will steer the business as creative director, hopes to grow the brand to a level which will allow it to compete globally. The arrangement will bring the company back under the…
By PTI MUMBAI: There is a need to strengthen the insolvency resolution process by having deterrents against failure or delays in implementing resolutions plans, a report said Monday. In the last two years, Insolvency and Bankruptcy Code (IBC) was implemented, three concluded corporate insolvency resolution process (CIRPs) being brought back to the National Company Law…