Construction firm MBL Infrastructure is hoping to avoid liquidation with the promoter of the company likely to infuse Rs 50,100 crore capital, according to two people aware of the development. A consortium of 15-20 lenders and insolvency professionals have tweaked the resolution plan that must be submitted to the National Company Law Tribunal (NCLT) for…
DetailsAsh Whitefly looks forward to a bevy of Park Lands events in the coming year, but has reservations about the complaints, city councillors conflicts of interest and debt left in their wake. A mixed response The park lands events calendar is getting busy. The Park Lands Authority in winter reviewed its Events Management Plan about…
DetailsJames Hurley, Callum Jones The Global Restructuring Group of Royal Bank of Scotland, which is 71 per cent-owned by the taxpayer, has been accused of stripping small businesses of assets to raise profitsStefan Wermuth/Reuters Campaigners have described an intervention from the chief executive of Royal Bank of Scotland as offensive after he said that he…
DetailsImage copyright Getty Images Imagine a world in which no one could borrow money: no house, no car, no building that extension, and possibly no Christmas presents either. The ability to borrow is vital. Shylock, you might argue, gave money-lending a bad name. Indeed much of what we borrow is “good debt” – when the…
DetailsEnergy suppliers have again provoked the industry regulators ire by turning a blind eye to customers struggles with rising debt before stepping in to help. Ofgem branded energy minnows First Utility, Ecotricity, Utility Warehouse, iSupplyEnergy and Spark Energy as the worst offenders. The only big six supplier to be named and shamed is Npower. Ofgem…
DetailsThe President of the World Bank Dr Jim Young Kim has promised to help small island developing states get concessional financing to ease the burden of post disaster debt. He invited Caribbean leaders to put together a financial plan that can be presented to world leaders, who will meet in Paris on December 12 to…
DetailsA file photo of a steel plant. The liquidation value of Innoventive Industries is expected to be in the range of Rs130-140 crore. Photo: Abhijit Bhatlekar/Mint Mumbai: Innoventive Industries Ltd, a Pune-based steel products maker that is undergoing bankruptcy proceedings, faces liquidation after a committee of creditors (CoC) rejected two resolution plans, including one from…
DetailsEmbattled Indian sandalwood producer Quintis controls at least 51,277 megalitres of water the largest volume of licenced water in the Northern Territory significantly more than any other agricultural, industrial or government entity, ABC Rural can reveal. NTCH Quintis water facts Quintis controls: 26 per cent of the Top End’s total allocated water 49 per cent…
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Detailsexplainer Industry Sanjay Vijayakumar Chennai , October 15, 2017 21:40 IST Updated: October 15, 2017 21:41 IST “; var device = “”; for ( var type in WFClientTypeDef) { if (window.matchMedia(WFClientTypeDef[type]).matches) { switch (type) { case “xlarge”: device = ‘desktop’; break; case “large”: device = ‘desktop’; break; case “medium”: device = ‘tab’; break; case “small”:…
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