EMPLOYEES will not see a cent from Riverside Meats after the Echuca company announced it was going into voluntary liquidation last week. And they are furious. Seven workers who spoke to the Riverine Herald say the hand they have been dealt 30 workers are still owned $622,526.46 is cruel. The money owed to the abattoir…
MoU was signed for collaboration in research, publication and advancement of knowledge New Delhi: The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Indian Institute of Corporate Affairs (IICA). The MoU was signed for collaboration in research and publication, advancement of knowledge, capacity building, awareness and advocacy…
“All sides of politics are very good at saying small business is the engine room of the economy but it is bloody hard to run that engine if you don’t have petrol and that petrol is finance,” Carnell says. “You can’t grow a business if you don’t have access to finance , it’s that simple.” Jobs…
Related Story: Gas company ‘knew it was causing damage but allowed it to continue’ The pursuit of Linc Energy for serious environmental harm sounds a loud warning to Queensland industry that any large company doing the wrong thing will be rigorously pursued, an environmental lawyer says. But the Opposition said the…
Wipro share price settled flat in Monday’s trade even as the IT major said its profitability may be impacted by 65-75 basis points in the March quarter as one of its telecom clients is undergoing insolvency proceedings. Without naming the client, the third largest software services firm in India, led by Azim Premji, said its profitability…
Calcutta: The Supreme Court will hear a special leave petition filed by Binani Industries to terminate the ongoing insolvency proceeding against subsidiary Binani Cement on Friday amidst protests from Dalmia Cement Bharat, which strongly objected to the proposed out-of-court settlement. Binani Industries filed the petition over the weekend, the Calcutta bench of National Company Law…
Unaudited Statements of Net Assets in Liquidation and Changes in Net Assets in Liquidation. At March 31, 2018, the Company reported unaudited total assets in liquidation, total liabilities in liquidation, and net assets in liquidation of $15.4 million, $1.3 million and $14.1 million, respectively. Assets in liquidation at March 31, 2018 included the $8.1 million…
Supreme will hear the case on April 13. Kolkata: Binani Industries, the parent company of insolvent Binani Cement, on Monday informed the National Company Law Tribunal’s Kolkata bench that it has moved the Supreme Court for termination of insolvency proceedings against its cement manufacturing subsidiary. The company said it had filed the application in the…
KOLKATA: Any move to liquidate Facor, one of Indias oldest producers of ferro alloys undergoing insolvency resolution, can be implemented only after the National Company Law Appellate Tribunal (NCLAT) rules on Facors appeal against an NCLT Kolkata order for initiation of bankruptcy resolution process. Facors committee of creditors (CoC) rejected all resolution plans and conveyed…
Binani Cements lenders have asked for necessary permissions to be obtained before they proceed with the settlement. Photo: Mint New Delhi: Binani Cement Ltd moved the Supreme Court on Monday seeking permission for an out-of-court settlement and end insolvency proceedings against it. The companys lenders have asked for necessary permissions to be obtained before they…