Small business bankruptcy filings in US under Subchapter V up 81% in April 2023
There was an 81% increase in bankruptcy filings by small businesses, which is captured as subchapter V elections within chapter...
NCLT rejects insolvency plea against Simplex Infrastructure citing pending arbitration awards of Rs 554
The Kolkata bench of NCLT has given a big reprieve to EPC and construction company Simplex Infrastructure, when the tribunal...
NCLT allows administrator of Reliance Capital to take control of 25 crore shares of Reliance General Insurance
In a major relief to the lenders of Reliance Capital, the Mumbai bench of the NCLT has directed Credit Suisse...
Future Lifestyle Fashion to face insolvency resolution process
Another Future Group company – Future Lifestyle Fashion – is now going to undergo the corporate insolvency process after the...
Fed Reserve raises interest rate by 0.25%, signals end of rate hike cycle
The US central bank – Federal reserve -- has raised interest rates to the highest in 16 years as it...
Credit Suisse asks CoC not to approve Reliance Capital resolution plan
Switzerland-based Credit Suisse has asked the Administrator in the Reliance Capital corporate insolvency resolution process (CIRP) to not proceed with...
GoFirst Airlines owes Rs 6,521 crore to banks
GoFirst Airlines owes Rs 6,521 crore to its financial creditors, according to insolvency filings made by the airline in the...
East India Drums & Barrels Mfg to take over Precision Containeurs
The Mumbai bench of the NCLT has the resolution plan submitted by East India Drums & Barrels Mfg Pvt Ltd...
GoFirst files for insolvency; fate of 5k employees hangs in balance
In a major setback for India's aviation sector, low-cost carrier GoFirst has applied for voluntary corporate insolvency resolution proceedings under...
Creditors of Starlit Power Systems submit Rs 45 crore claims
The creditors of Starlit Power Systems Limited, which is under corporate insolvency resolution process, has submitted claims of Rs 45.28...