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DetailsThe Insolvency Resolution Professional (IRP) appointed by the National Company Law Tribunal (NCLT) has told the pilots and staff of Jet Airways that their salary dues may not be settled fully as the company is undergoing the insolvency process. In a meeting with the Jet management the IRP, Ashish Chhawchharia, Partner, Grant Thorton, charted out…
DetailsNew Delhi: Insolvency proceedings have been initiated against debt-ridden Jet Airways, which formally stopped flying on 17 April and saw lenders voting for bankruptcy earlier this month. The cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed…
DetailsA national watchdog has launched its new strategy to reduce gambling harm in Scotland with a shift in emphasis away from the customer towards the industry taking greater responsibility. The Gambling Commission, which regulates commercial gambling for the whole of the UK, will work closely with health bodies, charities, regulators and businesses with a three-year…
DetailsDays after the National Company Law Tribunal initiated insolvency process against Jet Airways, its employees have received the first letter from Resolution Professional Ashish Chhawchharia. The letter, issued on June 20, states the Corporate Insolvency Resolution Process (CIRP) has started the insolvency process under the Insolvency and Bankruptcy Code (IBC). The bankruptcy tribunal has ordered…
DetailsA dealer at Resorts World Sentosa, one of Singapores two casino resorts, was sentenced last week to nine months and six weeks in prison after being discovered to have stolen S$77,000 (approx. $56,818) worth of chips from the gambling facilitys tables. Ding Zhipeng, a Chinese national, was also slapped with a S$12,000 (approx. $8,855) fine,…
DetailsNotice for the 14th Meeting of the Committee of Creditors of Southern Online Bio Technologies Limited (under Corporate Insolvency Resolution Process) under the provisions of The Insolvency and Bankruptcy Code 2016 read with Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016. Day & Date: Tuesday 25th June, 2019.Time 4.00…
DetailsA Russian metal and mining group whose biggest shareholder is the billionaire oligarch Roman Abramovich is interested in acquiring part of British Steel, according to people aware of the situation. As the clock ticks down on efforts to find a buyer for the UKs second-largest steelmaker following its collapse into insolvency, Evraz is eyeing up…
DetailsIn Compliance of Para 16(g) of part A of Schedule III and Regulations 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2018 (LODR), the Third meeting of Committee of Creditors (“CoC”) of Excel Glasses Limited was held on Friday, the 21st June,2019 at 3.00 pm BKC Centre, 31-E Laxmi Industrial Estate, New Link Road,…
DetailsConsolidating debt can get you out of financial trouble — but it can also land you in a tough spot. Image source: Getty Images. Consolidating debt is the process of borrowing more money to pay off existing debt. Many people use debt consolidation as a tool to help repay what they owe and to simplify…
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