The Supreme Court has repeatedly held that the provisions of IBC cannot be used as a means to recover dues. In the Mobilix Innovations vs Kirusa Software case, the apex court decided that in a pre-existing dispute that is not spurious, hypothetical or illusionary, the court has to reject the insolvency application filed against an…
A South Australian construction company has collapsed owing more than $4.5 million and leaving more than 200 projects incomplete. Qattro Built Pty Ltd entered liquidation on Tuesday after being in operation for 15 years in South Australia. Chris Powell and Nick Gyss from Duncan Powell have been appointed liquidators. Qattro builder has collapsed in South…
The National Company Law Tribunal (NCLT), Kolkata comprising of Smt. Bidisha Banerjee (Judicial Member) and Shri Balraj Joshi (Technical Member) allowed an application filed in Mr. Sanjeev Jhunjhunwala vs. Mr. Bimal Kanti Choudhury against PM Cold Storage Private Limited (Respondent) for the payment of Corporate Insolvency Resolution Process (CIRP) costs and pass an Order appointing…
The National Company Law Tribunal (NCLT), Hyderabad Bench, comprising of Dr. Venkata Ramakrishna Badarinath Nandula (Judicial Member) and Shri Charan Singh (Technical Member), while adjudicating a petition filed in M/s Tata International Limited v M/s Trident Sugars Ltd., has rejected a petition under Section 9 of IBC since the creditor failed to serve the Demand…
Goli Vada Pav The National Company Law Tribunal (NCLT) has admitted Mumbai-based fast-food restaurant chain Goli Vada Pav Private Limited to the corporate insolvency resolution process following its alleged failure to pay a debt of Rs 3.56 crore. The Mumbai bench of NCLT passed the order on September 5 on a plea of Vista Processed…
A bankruptcy court has admitted Mumbai-based quick service restaurant (QSR) chain Goli Vada Pav Pvt. Ltd. under the corporate insolvency resolution process (CIRP) and has appointed Vinod Radhakrishnan Nair as the resolution professional of the company. Goli Vada Pav was taken to the Mumbai bench of the National Company Law Tribunal (NCLT) by Vista Processed…
It looks like there’s a revival coming for Fenton & Fenton. The eclectic melbourne-based interiors label – which went into liquidation in early August – has been acquired by the Berkowitz Furniture group and is set to resume trading before the end of the year. Under the deal, founder Lucy Fenton will stay on as…
A failed Australian furniture retailer has been saved at the last minute in a white knight rescue that will see customer orders honoured. Last month, news.com.au reported that Fenton & Fenton, a melbourne-based homewares boutique, had entered into liquidation. News of its collapse sparked concern from customers who were worried they wouldn’t receive the furniture…
As part of the ongoing bankruptcy process of coffee chain firm Cafe Coffee Day (CCD), an application has been filed against the company under Section 7 of the Insolvency and Bankruptcy Code (IBC). According to a regulatory filing by Coffee Day Enterprises to the stock exchanges September 8, the application is filed by IDBI Trusteeship…
It looks like theres a revival coming for Fenton & Fenton. The eclectic Melbourne-based interiors label which went into liquidation in early August has been acquired by the Berkowitz Furniture group and is set to resume trading before the end of the year. Under the deal, founder Lucy Fenton will stay on as creative director…