Around 43 million Americans owe $1.5 trillion in federal student loan debt, an enormous number with broad economic implications. Student debt has been shown to hamper small-business growth, prevent young families from buying homes, delay marriages and inhibit people from saving for retirement. Emotionally, too, the effects are wide-ranging. A 2017 study showed students with…
DetailsThe National Company Law Tribunal (NCLT) has ordered the liquidation process of Devas Multimedia by allowing a petition filed by Antrix Corporation, a commercial arm of the Indian Space Research Organisation. The Bengaluru Bench of the NCLT has said Devas Multimedia was incorporated with a fraudulent motive to collude and connive with the then officials…
DetailsBanks have initiated the process of restructuring of loans up to Rs 25 crore in line with the Covid-19 relief measures announced by the Reserve Bank earlier this month TopicsBanks|Coronavirus|MSMEs To provide support to small businesses hit by the second coronavirus wave, banks have initiated the process of restructuring of loans up to Rs 25…
DetailsOn May 21, 2021, the Supreme Court dismissed pleas on 75 petitions challenging the notification including that on Anil Ambani, Sanjay Singhal, Venugopal Dhoot, Kapil Wadhawan and 45 other industrialists. (The Supreme Court had declared the notification issued by the Union government under Insolvency and Bankruptcy Code, on November 15, 2019 as legal and valid).…
DetailsNEW DELHI: To provide support to small businesses hit by the second coronavirus wave, banks have initiated the process of restructuring of loans up to Rs 25 crore in line with the Covid-19 relief measures announced by the Reserve Bank earlier this month.Many lending institutions have got board approval for the resolution framework and eligible…
DetailsTheres no doubt that athletes are a competitive bunch. So, it is not surprising that quite a few famous athletes like to gamble. They dont gamble on their own games mind you that would be against the rules. Well, OK, one name does come to mind who notoriously did do just that. But for the…
DetailsWASHINGTON At the beginning of April, White House chief of staff Ron Klain gave proponents of student debt cancellation a glimmer of hope when he announced President Joe Biden had asked the Education Department to prepare a memo examining his legal authority to wipe out debt through executive action. “Hopefully well see that in the…
DetailsThe approval of the Resolution Plan in CIRP requires a minimum 66% of the voting share of members of the Committee of creditors By Ashok Kumar Gulla The Insolvency and Bankruptcy Code, 2016 (IBC Code) enacted on May 28, 2016, provides for invitation of resolution plans from Prospective Resolution Applicants (PRAs) for revival of the…
DetailsEditorial Independence We want to help you make more informed decisions. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. American consumers had a total of $820 billion in credit card debt at…
DetailsT.C. | In Spain, 2,086 companies declared insolvency between January and April this year, an increase of 71% compared to 1,217 a year earlier, according to data published in the Official State Gazette and analysed by Iberinform. The strongest growth was in April, when 552 insolvencies were declared, compared to 41 in April last year,…
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