Dalmia Cement is confident that its Rs 6,350-crore offer to buy Binani Cements Ltd (BCL) will be approved by the NCLT on the back of NCLAT directions to proceed the insolvency resolution as per the IBC, according to a top company official. Last week, the Committee of Creditors (CoC) of Binani Cement had decided to…
DetailsImage copyright Getty Images Schools should be given free textbooks so they can teach children about personal finance. The Scottish Conservatives want to see a recently-launched English initiative to help pupils learn about savings and debt rolled out in Scotland. The party said the Scottish government could look at offering funding for the scheme alongside…
DetailsIs east Cork the new Cork? Pearse Flynn, tech veteran, football club owner and now top insolvency adviser, must hope so, given his ever-rising commitment to his home town of Ballycotton. Flynn has built an architectural gem of a home in the town, on the cliffs overlooking Ballycottons brooding island lighthouse. Local reports say he…
DetailsBinani Cement is likely to move the Supreme Court on Monday to end insolvency proceedings against it. The companys lenders have asked it obtain the necessary permission before consenting to an out-of-court settlement. The lenders met on Saturday. After the meeting some of them confirmed the meeting was held to…
DetailsA former all-pro running back cant run from a gambling debt. After more than seven years of legal wrangling, NFL star Clinton Portis has agreed to a payment plan with the Borgata casino in Atlantic City to repay $190,000 he borrowed in 2011 and lost. Former NFL star Clinton Portis has agreed to pay off a…
DetailsIs east Cork the new Cork? Pearse Flynn, tech veteran, football club owner and now top insolvency adviser, must hope so, given his ever-rising commitment to his home town of Ballycotton. Flynn has built an architectural gem of a home in the town, on the cliffs overlooking Ballycottons brooding island lighthouse. Local reports say he…
DetailsThe Expression of Interest (EoI) floated for the slump sale of assets Nicco Corporation which had been put under liquidation by the Kolkata bench of the NCLT failed to evince any interest from bidders. The liquidator for Nicco Corporation, Vinod Kothari, in an e-mailed response, said since the slump sale did not incite interest, the…
DetailsIndustrialists, Lawyers and Chartered Accountants who gathered for a book launch by Sridhanya Foundation called the National Company Law Tribunal (NCLT) a powerful tool. The Centre has constituted NCLT under Section 408 of the Companies Act, 2013 (18 of 2013) from June 2016. The NCLT is a powerful tribunal, Justice N. Kirubakaran, judge, Madras High…
DetailsChennai: A mammoth money-laundering case, hitherto discussed in hushed voices, has now come out into the open, with the Madras high court handing it over to the CBI. Arjunlal Sunderdas will ring a bell in the top echelons of industry, judiciary and politics, because scores of VVIPs had parked their money with the man with…
DetailsTurkeys Dou Holding has applied for the restructuring of a debt burden of approximately $5.8 billion, following the roughly $6 billion restructuring process begun by Yldz Holding earlier this year, Hürriyet newspaper said. Dou chose neither to directly confirm nor deny the report in a statement in response: We are naturally in continuous communication with…
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