The stock plummeted 20 per cent to close at Rs 1.88 its lowest trading permissible limit for the day as also its 52-week low on BSE. At NSE, shares of the company tanked 19.14 per cent to end at Rs 1.90 its lower circuit limit. “Lanco Infratech Limited…
DetailsMumbai: Insolvency proceeding against Lanco Infratech, one of the 12 loan defaulting banks identified by the Reserve Bank of India (RBI) has been started by IDBI. The proceeding comes on the heels of the RBI directing certain banks to take action against defaulting borrowers. According to the Economic Times, IDBI has initiated the proceeding under…
DetailsDebt consolidation is a great repayment program that helps consumers manage and put order in their debt payments and National Debt Relief shares valuable insight on the program with a recently published article. The materials released May 12, 2017 and titled “The Pros and Cons of Debt Consolidation” aims to help people understand the debt…
DetailsCATALIST-LISTED company AsiaPhos Limited is carrying out an internal restructuring, which will involve the assets, operations and activities of its subsidiaries in Singapore, Hong Kong and China, it announced on Monday. The internal restructuring is to facilitate the reorganisation, streamlining and expansion of the group’s downstream business segment, which consists of the production and sale…
DetailsA BUILDING supervisor who was assaulted at the Queen Elizabeth Hospital by an employee has been awarded more than $800,000 in damages, but is unlikely to see any money because his attacker is bankrupt. District Court Judge Rauf Soulio awarded former gyprocker and building supervisor Andrew Kent $815,624 in compensation for past, current and future…
DetailsThe words `liquidation’, `bankruptcy’ and `insolvency’ carry an unmistakable sense of drama -a tone of finality, a sign of unforgiving verdict, and a hint of a new beginning. Amid screaming headlines and flashes of `breaking news’ announcing the start of bankruptcy proceedings against 12 truant corporate borrowers, one is led to believe that the wheels…
DetailsThe Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017. The Ministry of Corporate Affairs has notified the relevant sections 55 to 58 of the Insolvency and Bankruptcy code,2016 pertaining to the Fast Track Process and also notified that…
DetailsDrake & Scull International (DSI) will look to restructure its debt pile, which stood at Dh2.44 billion at the end of March, through the issue of a new sukuk or a syndicated loan, the companys acting chief financial officer Firas Kalthoum said on Sunday. Mr Kalthoum, whose appointment was announced last week, said that he…
DetailsWhen your personal finances teeter on the brink, your first instinct might be to do something drastic. Freeze your credit cards in a block of ice. Vow to never eat out again. Forgo your Netflix subscription. These tactics may help, but financial experts say paying off debt requires a more comprehensive plan. One common strategy…
DetailsThe rules notified by the insolvency regulator explain the procedures and timelines to be followed to help in resolution of insolvency within 90 days such as announcement of the appointment of interim resolution professionals (IRPs) and submission of claims of financial dues. Photo: AFP More From Livemint » Mumbai: The Insolvency and Bankruptcy Board of…
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