Huelin-Renouf, made up of separate Guernsey, Jersey and UK entities, collapsed in 2013 leaving 90 employees redundant and a large amount of cargo bound for Jersey businesses stranded in Southampton. Following the penultimate liquidation hearing in Guernseys Royal Court, a total of £674,330 will be returned to creditors. Final closure of the case is scheduled…
South Africa-based hospital chain Life Healthcare Group Holdings Ltd is looking to sell its 49.7% stake in Max Healthcare Ltd, Bloomberg reported citing persons aware of the development. Last month, VCCircle first reported that Life Healthcare was looking to sell its stake in Max Healthcare. VCCircle also reported that Life Healthcare had emerged as a…
The Reserve Bank of India on Monday approached the Supreme Court seeking permission to initiate insolvency proceedings against Jaiprakash Associates (JAL), the parent company of Jaypee Infratech (JIL). The move had more than 25,000 homebuyers of Jaypee Infratech in Noida and Greater Noida worried that if insolvency proceedings against JAL are allowed, who will deposit…
Women’s clothing retailer Andrea Moore – which has stores in Auckland, Wellington and Christchurch – has gone into liquidation. The Andrea Moore store in Wellington. Photo: Instagram / Andrea Moore McGrathNicol has been appointed as receiver. Andrea Moore has traded as a registered business since 2004. Managing director Brian Molloy said a perfect storm hit…
The government has announced relaxation in the provisions relating to levy of minimum alternate tax (MAT) in case of companies against whom an application for corporate insolvency resolution process has been admitted under the Insolvency and Bankruptcy Code, 2016. The existing provisions of section 115JB of the Income-tax Act, 1961, inter alia, provide that for…
MUMBAI: The National Company Law Tribunal has sought Gujarat NRE Coke’s employee details as it is expected to deliver Tuesday its final order on the company’s liquidation, with no concrete plans of revival in the Rs 4,900-crore default case being reached before the clock ran out. The resolution professional, Sumit Binani, has submitted his report…
The Reserve Bank of India on Monday approached the Supreme Court seeking permission to initiate insolvency proceedings against Jaiprakash Associates (JAL), the parent company of Jaypee Infratech (JIL). The move had more than 25,000 homebuyers of Jaypee Infratech in Noida and Greater Noida worried that if insolvency proceedings against JAL are allowed, who will deposit…
Investors should note that the ex-dividend date is set by the NYSE. Under the rules of the NYSE, when a distribution is declared in a per share amount that exceeds 25% of a company’s stock price, the date on which that company’s shares will begin to trade without the dividend, or ex-dividend, is the first…
The Income Tax Department has relaxed norms for levy of Minimum Alternate Tax (MAT) on companies facing corporate insolvency proceedings. With effect from assessment year 2018-19 (FY2017-18), in case of a company, against whom an application for corporate insolvency resolution process has been admitted by the adjudicating authority under…the IBC, the amount of total loss…
New Delhi, Jan 6: In significant relief to firms undergoing insolvency resolution, the Finance Ministry has now eased provisions of minimum alternate tax (MAT) for them. Accordingly, companies against whom corporate insolvency resolution process has been initiated can now reduce the total loss brought forward (including unabsorbed depreciation) from the book profit for the purpose…