Jaypee Infratech Limited Committee of Creditors (COC) rejected the demand of a forensic audit of accounts of the company, in a voting, the results for which were announced on Tuesday. Homebuyers had been demanding an independent audit for some five years, to determine why Jaypee Infratech failed to finish the housing projects despite buyers having…
news, local-news, UPDATE: Creditors have voted to place Sporties Dubbo into liquidation, the administrators say. The decision was made at a meeting of creditors held at Dubbo on Wednesday. It comes just over three months since the Erskine Street venue entered voluntary administration. Aaron Lucan and Graeme Beattie, partners of Worrells Solvency and Forensic Accountants…
news, local-news One of Dubbos oldest bowling clubs has ceased trading and a meeting of creditors on Wednesday will decide the future of its affairs. Dubbo Railway Bowling Club, known as Sporties Dubbo, ceased trading on Saturday, administrators have confirmed. The Erskine Street venue entered voluntary administration on November 15. Aaron Lucan and Graeme Beattie,…
Corporate India expects the Government to take adequate measures to resolve issues around Group Insolvency, runaway and pseudo bidders so as to further strengthen the Insolvency and Bankruptcy Code (IBC) process. Ashok Haldia, former CA Institute Secretary and member Board of IIIPA, told BusinessLine that the Committee of Creditors should be mindful of deterrence effect…
The steel sector has turned out to be one of the major beneficiaries of the Insolvency and Bankruptcy Code (IBC), according to ratings agency ICRA Ltd. This could lead to improved plant utilisation and domestic steel supply. Out of the 40 large defaulting accounts identified by the RBI in 2017, 11 entities belonged to the…
Dear Sir/ Madam, Sub: Notice of Ninth Meeting of Committee of Creditors (CoC) of Uttam Value Steels Limited (Corporate Debtor) Pursuant to the provisions of Regulation 30 [Schedule III, Part A, Clause A (16) (g)] of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you…
The National Company Law Appellate Tribunal has stayed the ongoing liquidation of Bharati Defence and Infrastructure Ltd. The NCLAT directed that the liquidator will not take any steps to sell or transfer or alienate movable or immovable assets of the company. The Mumbai bench of the National Company Law Tribunal had ordered the liquidation in…
– Tannar Eacott Following the removal of a number of acts, NSW regional festival Mountain Sounds recently announced the cancellation of its fifth reincarnation. Today, news broke that the festivals company was going into voluntary liquidation. With this in mind, weve decided to investigate to find the deep-rooted causes of this festivals closure. Festival organisers…
Acting tough on an erring insolvency professional (IP), the Insolvency and Bankruptcy Board of India (IBBI) has cancelled the IP registration of Bhavna Sanjay Ruia, declaring her as not fit and proper to continue as an IP. The IBBI has also debarred Ruia from seeking fresh registration as an IP or providing any service under…
This is to inform you that the meeting of the Committee of Creditors (COC) of the Company is adjourned from Friday, 22nd February, 2019 to on Monday, 25th February, 2019 at 11.30 A.M and again adjourned to Tuesday, 26th February, 2019 at 04:30 P.M at the registered office of the Company situated at Plot No.…