The government on Monday introduced a bill in the Lok Sabha to amend the insolvency law and provide for a pre-packaged resolution process for stressed MSMEs. TopicsInsolvency and Bankruptcy Code|NCLT|MSMEs Punishment would be meted out for offences related to pre-packaged insolvency resolution process The government on Monday introduced a bill in the Lok Sabha to…
DetailsThe government on Monday introduced a bill in the Lok Sabha to amend the insolvency law and provide for a pre-packaged resolution process for stressed MSMEs. The proposed amendments would enable the government to notify the threshold of a default not exceeding Rs 1 crore for initiation of pre-packaged resolution process. The government has already…
DetailsThe Nassau County Industrial Development Agency has agreed to help the retired community in Port Washington recover from a second bankruptcy for the first time in seven years because of concerns about the welfare of the elderly. The split IDA Board last week resolved to issue additional bonds and give Amsterdam on the harborside an…
DetailsIn a major setback for Vijay Mallya, the London court on Monday declared the fugitive businessman bankrupt. The verdict will help the consortium of Indian banks led by the State Bank of India in recovering debt from loans worth Rs 9,000 crore by seizing his assets. Read the full article at: https://www.latestly.com/quickly/india/news/fugitive-businessman-vijay-mallya-declared-bankrupt-by-london-high-court-2678878.html
DetailsNEW DELHI: Fugitive businessman Vijay Mallya was declared bankrupt by a UK court on Monday, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines.“As at 15.42 [UK time], I adjudicate…
DetailsMedMens dispensary at 110 S. Robertson Blvd. in Beverly Hills. Culver City-based cannabis retailer MedMen Enterprises Inc., which has struggled financially for several years, is pinning its hopes on a turnaround specialist whos already making progress with a difficult restructuring. Tom Lynch was made the permanent chief executive of MedMen on July 15 after more…
DetailsThe Finance Minister Nirmala Sitharaman on Monday introduced a Bill in the Lok Sabha to provide statutory backing to pre-packaged insolvency resolution process (pre-pack) regime for companies classified as micro, small and medium enterprises (MSMEs). This Bill Insolvency and Bankruptcy Code (amendment ) Bill 2021 once passed by Parliament would replace an ordinance that Centre…
DetailsNon-Fiction updates Sign up to myFT Daily Digest to be the first to know about Non-Fiction news. Somebody tell me where Ken Liangs breakfast is so I can dip my balls in it, yelled David Sambur. So begins chapter 30 of The Caesars Palace Coup. That kind of remark passes for humour in the rarefied…
DetailsX Register for free to receive latest news stories direct to your inbox Register West Midlands businesses are being urged to take swift action if their finances are under pressure after new Government figures reveal corporate insolvencies have hit their third highest monthly total since the start of the pandemic. The warning comes from insolvency…
DetailsDavid Tannock With more than 18 years experience in the insolvency sector, David joins from an accountancy and business advisory services firm in Glasgow where he spent almost four years as an insolvency manager, having previously worked for another chartered accountancy practice in the city for nine years. David has a broad range of experience…
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