The government sought to tighten the Insolvency and Bankruptcy Code (IBC) through an ordinance to ensure that wilful defaulters and promoters of companies in loan default over an extended period of time wont be able to get their hands back on assets during the resolution process. The ordinance comes in the wake of concerns that…
DetailsFintech firm Carrott has expanded its micro-savings app into the home loan space to help consumers use small payments to pay off their mortgages faster. Originally built around superannuation and assisting people when saving up for their retirement, the company decided to expand out into home loans and HECS at the beginning of November. Carrotts…
DetailsAt a meeting on Nov 15, the board considered its combined financial position, including all of its subsidiary companies in China. In an update to the Stock Exchange of Hong Kong, the board stated: The combined net liabilities of such subsidiaries in the Peoples Republic of China as at 31 March 2017 could have been…
DetailsNEW DELHI: The government on Wednesday recommended an ordinance to significantly tighten the norms to bar promoters of companies facing insolvency proceedings from bidding for the ailing entities, in a move that will shut out several business families from vying with competitors and overseas funds. Apart from seeking to ban bidding by wilful defaulters, the…
DetailsThe Cabinet on Wednesday approved changes to the Insolvency and Bankruptcy Code (IBC), and sent it to the President for his approval. Once approved, the ordinance will be placed before Parliament in the winter session. Finance minister Arun Jaitley did not divulge details about the changes being made to the code, since the Presidents approval…
DetailsENGLANDS players have opted against giving a portion of their match fee to their Samoan counterparts ahead of their clash at Twickenham. Anthony Watson revealed that the possibility of donating part of the $45,000 they are paid for each Test, as recently suggested by prop forward Mako Vunipola, would be discussed this week. Samoas union,…
DetailsENGLANDS players have opted against giving a portion of their match fee to their Samoan counterparts ahead of their clash at Twickenham. Anthony Watson revealed that the possibility of donating part of the $45,000 they are paid for each Test, as recently suggested by prop forward Mako Vunipola, would be discussed this week. Samoas union,…
DetailsIn the news release, Fashion to Figure Receives Court Approval to Begin “TOTAL LIQUIDATION SALE”, issued 22-Nov-2017 by SB Capital Group, LLC over PR Newswire, we are advised by the company that while the remaining 19 Fashion to Figure stores will be included in the company’s liquidation, they will not necessarily be closing, as the…
DetailsWritten by Sunny Verma | New Delhi | Published: November 23, 2017 5:12 am Ravi Shankar Prasad, Arun Jaitley on Wednesday. (Express Photo/Anil Sharma) Related News The Union Cabinet approved the promulgation of an ordinance Wednesday to amend the Insolvency and Bankruptcy Code (IBC) to streamline the stressed-assets resolution process and effectively bar wilful defaulters…
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