MUMBAI: Wind energy solutions provider Inox Wind (IWL) is challenging the National Company Law Tribunals Chandigarh bench order on insolvency, claiming it is solvent and in “excellent” financial health. ET had exclusively reported on Saturday that NCLT passed an order on July 5, clearing way for the insolvency of the company after an ‘operational creditor’…
DetailsImage copyright Getty Images Labour has an “ambition” to pay-off university students’ historic debt as well as abolishing tuition fees, according to its shadow chancellor. Appearing on the Andrew Marr Show, John McDonnell denied that Labour had watered down a pre-election pledge to “deal with” graduate debt. He said: “We’re going to try to. It…
DetailsInox Wind Limited (IWL), which is facing insolvency proceedings over unpaid dues of Rs 57 lakh to its Customs agent, has asked the National Company Law Tribunal (NCLT) to quash the case. “IWL has preferred an appeal before the National Company Law Tribunal (NCLT), praying that the said proceedings be quashed. The matter…
DetailsA BUNDABERG retailer has been forced to close after a move to a new prime CBD location failed to boost flagging sales. J & A Davis Pty Ltd, trading as Bundy Hobbies and Toys, went into voluntary administration last month after receiving a statutory demand from the company’s major supplier, which it was unable to…
DetailsNEW DELHI: The Insolvency and Bankruptcy Code has segregated judicial and commercial aspects of the insolvency process whereby stakeholders have the right to decide on what suits them, IBBI chairperson M S Sahoo said today. The Code, which became operational in December last year, provides for a market-determined and time-bound insolvency resolution process. The Insolvency…
DetailsAre you a convicted criminal? A former bankrupt? Someone banned from holding a liquor licence in Victoria for 15 years? Is your business partner a member of a notorious outlaw motorcycle gang? Are you currently facing serious criminal charges? If the answer is “yes” to the above, then a career in real estate could still…
DetailsInsolvency and Bankruptcy Board of India (IBBI) Chairperson M S Sahoo said on Saturday mergers and acquisitions might increase under the code governing the sale of assets of companies unable to repay debt. The Insolvency and Bankruptcy Code (IBC) has been in the news since the Reserve Bank of India issued directions to…
DetailsDebt consolidation is one of the best ways to help consumers manage their mountain of debt and National Debt Relief shares how a Home Equity loan can help. A recently published article titled “Home Equity And Debt Consolidation” released June 9, 2017 helps consumers understand this option in helping them address debt payment. Carson City,…
DetailsOnce the youngest player to have won the Wimbledon mens singles championship, 49-year-old German-born tennis star Boris Becker was declared insolvent by a British Bankruptcy and Companies Court at the end of last month. Becker, who, according to news reports, at one time boasted an estimated personal fortune of over £100million (R1.7billion), is not the…
DetailsAHMEDABAD: The Gujarat High Court on Friday reserved its order for Monday on Essar Steel‘s plea against the June 13 RBI circular to banks to act under Insolvency and Bankruptcy Code against the steel major and eleven other firms with over Rs 5,000 crore of outstanding loans each. A bench of Justice S G Shah…
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