New Delhi: The Insolvency and Bankruptcy Board of India (IBBI) has amended norms pertaining to the liquidation process as part of efforts to make the process more smooth and ensure accountability among the stakeholders. Now, liquidators are required to convene meetings of the Stakeholders’ Consultation Committee (SCC) at an interval of maximum 30 days and…
The National Company Law Tribunal, on Tuesday, extended the deadline for another 60 days to complete the resolution process of grounded airline Go First. A two-member bench of the Delhi-based NCLT admitted the plea filed by the resolution professional (RP) of Go First seeking an extension of the timeline to complete the corporate insolvency resolution…
Read Time: 04 minutes Synopsis The NCLT, in its order, observed that due to the ongoing investigations, attachment of assets and the low likelihood of insolvency resolution, it was necessary to proceed with the liquidation of Gitanjali Gems The National Company Law Tribunal (NCLT) has ordered the liquidation of Gitanjali Gems Ltd, a jewellery company…
Go First crisis: The National Company Law Tribunal has extended the deadline for the completion of the resolution process of beleaguered airline Go First by 60 days. The resolution professional had sought an extension of the deadline to complete the corporate insolvency resolution process (CIRP). A two-member bench of the Delhi-based NCLT admitted the plea…
Go First Airbus A320neo planes are powered by Pratt & Whitney (P&W)-geared turbofan engines. The National Company Law Tribunal on Tuesday extended the deadline for another 60 days to complete the resolution process of grounded airline Go First. A two-member bench of the Delhi-based NCLT admitted the plea filed by the resolution professional (RP) of…
A popular Australian beer company has entered voluntary administration after almost 10 years of business, citing increasing costs and taxes. Hawkers Beer, which is based out of Reservoir in Melbourne, announced on Monday it had entered into voluntary administration. Founder Mazen Hajjar cited a range of challenges affecting not just Hawkers but the entire craft…
A popular Australian beer company has entered voluntary administration after almost 10 years of business, citing increasing costs and taxes. Hawkers Beer, which is based out of Reservoir in Melbourne, announced on Monday it had entered into voluntary administration. Founder Mazen Hajjar cited a range of challenges affecting not just Hawkers but the entire craft…
SYDNEY, NEW SOUTH WALES, AUSTRALIA, February 12, 2024 /EINPresswire.com/ — Macmillan Lawyers and Advisors, a trusted name in the legal and advisory industry, is pleased to announce the expansion of its insolvency services to the vibrant city of Sydney, Australia – macmillan.law/insolvency/lawyer-sydney/. With a strong foothold in Brisbane, the firm is committed to extending its…
If you saw them on the street, they would seem like a happy, completely normal Aussie family. But Kathryn and Mike Arnold, in their 40s, have left behind an unhappy trail of creditors dating back decades. The Sydney duo make quite the pair Mike is bankrupt and has been banned from running his own company…
A popular Australian beer company has entered voluntary administration after almost 10 years of business, citing increasing costs and taxes. Hawkers Beer, which is based out of Reservoir in Melbourne, announced on Monday it had entered into voluntary administration. Founder Mazen Hajjar cited a range of challenges affecting not just Hawkers but the entire craft…