The Congress on Friday attacked the government over the low debt recovery under the Insolvency and Bankruptcy Code and asked whether it was a mechanism to rescue stressed firms or another tool for organised loot”. The Opposition party also asked whether the Insolvency and Bankruptcy Code (IBC) was aimed at helping cronies for creating monopolies…
DetailsNormal text sizeLarger text sizeVery large text size Three million Australians who were hit with a 7.1 per cent increase in their HECS debt last week will now also find it more difficult to secure a home loan. As of September, banks were made to include the HECS or HELP debt in debt-to-income ratios, meaning…
DetailsThe Emirati Ministry of Finance May 25 posted online Ministerial Decision No. 133/2023, on business restructuring relief for corporate tax purposes, under Federal Decree-Law No. 47 of 2022. The decision explains: 1) the exclusion of gains or losses when determining taxable income, for qualifying share transfers with consideration received in addition to shares or other…
DetailsIndia’s largest gas firm GAIL has infused Rs 2,100 crore in insolvent private-sector chemical company JBF Petrochemicals Ltd that it had acquired in bankruptcy proceedings. The firm had in March won bankruptcy court approval for taking over JBF. In a stock exchange filing, GAIL (India) Ltd said it has “infused Rs 2,101 crore (equity –…
DetailsSINGAPORE – Scams are here to stay, with scammers devising new tactics and technologies to prey on victims. Deputy Public Prosecutor Gordon Oh Chun Wei reveals how the Attorney-Generals Chambers has prosecuted some scam cases and brought the culprits to justice. Case 1: Renovation scam victims cheated of $1.8 million All they wanted was a…
DetailsThe legislative process exists for a reason, and this time, it worked out for the best for everyone in Colorado. Colorado SB-23-259, also known as the Extension Of Credit For Limited Gaming, passed through the state Senate and House before Gov. Jared Polis vetoed it. An awful idea, no matter how you look at it…
DetailsThe Emirati Ministry of Finance May 25 posted online Ministerial Decision No. 133/2023, on business restructuring relief for corporate tax purposes, under Federal Decree-Law No. 47 of 2022. The decision explains: 1) the exclusion of gains or losses when determining taxable income, for qualifying share transfers with consideration received in addition to shares or other…
DetailsNew Delhi: Future Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of Rs 2,117.03 crore and claims worth Rs 38.5 crore are “under…
DetailsA Buy Buy Baby store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Stephanie Keith | Bloomberg | Getty Images Bed Bath & Beyond is expected to be dissolved after the failed retailer declared bankruptcy, but the company’s crown jewel Buy Buy Baby may live to see another day. The…
DetailsBoth individuals and organizations may find dealing with debt to be stressful and difficult. Having a sound debt management plan in place is vital when dealing with growing financial commitments. The numerous debt management techniques will be covered in this article, along with how licensed money lenders can help people and organizations on their path…
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