2. In the matter of Monica Jajoo v. PHL Fininvest Private Limited (Company Appeal (AT) (Ins) No. 1344 & 1345 of 2022), the appellant, who was a personal guarantor to a corporate debtor named Hema Engineering Industries Limited (HEIL), had challenged an order of Bench IV of the National Company Law Tribunal (NCLT), New Delhi admitting…
Another South Australian building company has collapsed, plunging creditors and prospective home owners into crisis. Key points: Qattro has been placed into liquidation The company has more than 200 construction projects currently underway Qattro owes more than $4.5 million to unsecured creditors Qattro Built has been placed into liquidation, owing more than $4.5 million to…
The National Company Law Tribunal (NCLT) will hear on September 26 the resolution plan for debt-ridden Reliance Capital submitted by Hinduja Group firm Indusind International Holdings Ltd (IIHL) as Torrent Investments’ plea to keep the decision in abeyance has been rejected. The Mumbai bench of the insolvency tribunal has rejected the Torrent’s plea to keep…
Courgette opened in Canberra almost 20 years ago and has received numerous awards. Photo: Supplied. Award-winning Canberra restaurant Courgette has returned to its directors following a period of voluntary administration, the administrators have confirmed. Chartered accounting firm Slaven Torline was appointed as the administrator in April, but partner Aaron Torline said control of the business…
Builds on commitments from seven top AI companies secured by the Biden-Harris Administration in July Commitments are one immediate step and an important bridge to government action; Biden-Harris Administration is developing an Executive Order on AI to protect Americans rights and safety Since taking office, President Biden, Vice President Harris, and the entire Biden-Harris Administration…
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…