Several companies whose assets are facing insolvency proceedings today said they were not wilful defaulters and would like to participate in the bidding process if permitted. Legal experts were of diverse opinion, with some saying that barring companies from bidding would further depress the price of such assets resulting in more losses to the banking…
DetailsBERLIN/LONDON (Reuters) – A restructuring of Siemens (SIEGn.DE) declining turbines business could trigger labor unrest across the German industrial group, trade union IG Metall warned on Thursday as workers rallied in Berlin in protest over planned job cuts. Siemens employees and union members protest with a banner that reads “Siemens = social responsibility” outside a…
DetailsImage copyright Google Image caption The company provides tickets for live shows, sporting events and day trips Customers with outstanding tickets from Ticketline (UK) have been urged to contact their credit card provider as the company is placed into liquidation. Insolvency firm CVR Global said it had been called in after the company, based on…
DetailsMumbai: Valuation of the stressed assets facing insolvency proceedings is unlikely to be impacted with the Ordinance that debars promoters who have been tagged as willful defaulters from bidding for such assets, SBI chairman Rajnish Kumar said. The President on Thursday gave his assent to the Ordinance amending the Insolvency & Bankruptcy Code, 2016. The…
DetailsNovember 23, 2017 Amy Kazmin in New Delhi Experimental feature Listen to this article Play audio for this article Pause 00:00 00:00 Experimental feature Give us your feedback Thank you for your feedback. What do you think? Ill use it in the future I dont think Ill use … Read the full article at: https://www.ft.com/content/ccafaea6-d042-11e7-b781-794ce08b24dc
DetailsBy Andrew Bullock For Mailonline Published: 20:27 AEDT, 23 November 2017 | Updated: 23:53 AEDT, 23 November 2017 e-mail 21 View comments It was a busy 50th birthday for Boris Becker as he enjoyed a plush lunch at The Ivy in London in the afternoon before heading to C London in Mayfair for a slap…
DetailsMUMBAI: State Bank of India chairman Rajnish Kumar has said that there are many new buyers interested in taking over defaulted companies and the value of these businesses will not dip if promoters are prevented from bidding for them. The SBI chairman’s statement comes after the government amended the Insolvency and Bankruptcy Code to bar…
DetailsNEW DELHI: Wilful defaulters and entities whose accounts have been classified as NPAs will be barred from bidding for assets under the insolvency law, with the President giving his assent to an ordinance to amend the bankruptcy code. “The President of India has given his assent today to the Ordinance to amend the Insolvency and…
DetailsPresident Ram Nath Kovind on Thursday gave assent to the government’s ordinance to amend the Insolvency and Bankruptcy Code, aimed at tightening the current framework amid rising number of insolvency cases. The Cabinet on Wednesday approved bringing in an ordinance to make “some changes” in the Code, Corporate Affairs Minister Arun Jaitley said. The Code,…
DetailsLabor has unveiled a Robin Hood-style plan to hike taxes on wealthy landowners, luxury car buyers and interstate online gambling companies to keep a lid on Queensland’s nation-leading state debt. Treasurer Curtis Pitt released Labor’s election costings on Thursday two days before the election insisting the “new revenue measures” would hit only a well-heeled…
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