Consumer Protection has issued advice for customers of SFG Relocations Pty Ltd, formerly trading as Wridgways Australia Pty Ltd, who are affected by the liquidation of the company. The company was part of a group that provided logistics, removal and warehousing services to customers within Australia and overseas. Blair Pleash of Hall Chadwick Chartered Accountants…
The stipulation in the Banking Regulation Act, 1949, that no shareholder of a banking company PSB or private sector bank can exercise voting rights more than 26%, is also being reviewed, sources added. Key amendments to the Insolvency and Bankruptcy Code (IBC) to ratify the so-called pre-pack resolution scheme for MSMEs and changes in banking…
The risks facing directors and officers (D&O) continue to expand and intensify, with liability claims against them set to rise. One catalyst has, of course, been the COVID-19 pandemic. As the effects of the crisis gripped the global economy, businesses had to react swiftly to the challenges of business interruption. Senior managers grappled with whether…
AVON, Conn., July 13, 2021 /PRNewswire/ –Carrier-provided online administration capabilities continue to be very important to employers of all sizes and industries,according to the reportMarketVision The Employer Viewpoint: Breaking Out Employer Demographics for the Voluntary/Worksite.The percentage of employers that think having online administration is not important is overall very low: the weighted average across all…
The Administrative Appeals Tribunal (AAT) has overturned the Australian Taxation Offices (ATO) decision to pursue $106,576 in tax debts from the former owners of a family freight and transport business. Garry and Glenda Smith, a married couple in their 70s, operated a small interstate transport and freight business in Benalla, Victoria prior to their retirement.…
A retired couple in their 70s have now been released from the majority of their small business tax debts after the Administrative Appeals Tribunal overturned an ATO decision on the grounds of serious financial hardship. The couple, Mr and Mrs Smith, had owed $106,576 in tax debts after their 50-year-old small interstate transport and freight…
MUMBAI : A proposal by lenders to Reliance Communications Ltd (RCom) to seek fresh bids despite selecting UV Asset Reconstruction Co. Ltds (UVARCL) resolution plan could lead to prolonged litigation, said three legal experts. A decision based on the outcome of another insolvency case involving UVARCL would only cause delay as RComs resolution plan has…
It is not yet a happy ending for the Kalrock-Jalan consortium of Jet Airways as employees of airline are unhappy with relief they are being offered which is slashed down from the actual claims TopicsJet Airways|employee IANS | New Delhi Last Updated at July 11, 2021 15:20 IST It is not yet a happy ending…
The Resolution Professional must now disclose the resolution approval immediately, within 30 minutes of the oral order, NSE said. The Exchange said it will highlight the impacted securities according to the Resolution Professionals information (Image: Shutterstock) The NSE has issued a set of guidelines for companies to follow under the Corporate Insolvency Resolution Process (CIRP),…
BSE has revealed the manner of dealing with companies undergoing Corporate Insolvency Resolution Process. BSE in a release said, “SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (“LODR Regulations”) was amended in the year 2018 vide SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2018, and point 16 was inserted in Para A of…