By Ajit Joshi Prominent Mumbai-based diamond firms in deep trouble, owe hundreds of crores to banks and lenders. News of two leading companies going belly-up has sent jitters down Mumbais diamond bourse. While a consortium of banks declared one of them bankrupt, the other has filed a voluntary petition under Chapter 11 of the United…
DetailsIts do or die for BHEL as court asks PSU to pay due amount to MSME or be declared insolvent New Delhi, Aug 26 (KNN) In a big blow to Bharat Heavy Engineering Limited (BHEL), the National Company Law Tribunal (NCLT) has asked the PSU to either pay the amount due to a MSME…
DetailsMUMBAI: ICICI Lombard, HDFC Ergo, New India Assurance and National Insurance are among the insurers who would be delivering a tailored insurance cover soon for Insolvency Professionals as the new breed of executives stare at multiple risks from charges of sabotage to negligence. While there are broad indemnity covers, these are available only for a…
DetailsBy Tom Latek and Mark MaynardKentucky Today Even with the state facing a projected budget shortfall and an enormous public pension debt, casino gambling remains off the table. I havent heard any discussion of that issue and no one has talked to me about it, said Senate Minority Leader Ray Jones, D-Pikeville. Ive always opposed…
DetailsA division of the taxpayer-owned RBS bank which was meant to help companies in trouble mistreated many of its clients but did not try to profit from their distress, according to a leaked report by the regulator, the Financial Conduct Authority. According to the report, seen by the BBC, investigators found inappropriate action by Global…
DetailsThe solicitor in this story, John James Kotsifas of Northcote law firm J Kotsifas & Associates, is in no way professionally related to Melbourne solicitor John Andrew Kotsifas of JK Legal Barristers and Solicitors. John Kotsifas appeared to be a typical suburban lawyer, grinding away his hours handling wills and conveyancing in a small office…
DetailsBad loans have now increased by 135 per cent from Rs. 2, 61,843 crores in the last two years. A non-performing asset, or merely NPA, is well-defined as a credit facility for which the interest or the instalment of principal or both, has remained overdue for a specified period of time. In other words, an…
DetailsTracy Standish ran a family business, Bowlplex, that his father had started in Poole. The business, which was healthy until the recession hit, banked with RBS. The firm had 18 outlets when the global downturn began, but the recession was “dramatic in its impact”, he said. “It just stopped foot flow in the most dramatic…
Details“Ask Brianna” is a column for 20-somethings or anyone else starting out. I’m here to help you manage your money, find a job and pay off student loans – all the real-world stuff no one taught us how to do in college. Send your questions about postgrad life to [email protected] . This week’s question: “My…
DetailsTopbonus, the frequent flyer programme that Air Berlin sold to Etihad, has followed the troubled German carrier in filing for insolvency, leaving its 4.5m customers unable to use their points despite government intervention to keep Air Berlins planes in the air. The frequent flyer scheme has been a separate company 70 per cent owned by…
Details