In a significant blow to Anil Ambani, the Securities and Exchange Board of India (SEBI) has banned him and 24 other entities from the securities market for five years. The decision follows allegations of fund diversion at Reliance Home Finance (RHFL), where Ambani, as the former chairman, was found to have orchestrated a fraudulent scheme. …
Go First owes its creditors around Rs 6,200 crore. Central Bank of India, Bank of Baroda, and IDBI Bank are some of the secured creditors of the debt-laden airline with admitted claims of Rs 1,934 crore, Rs 1,744 crore, and Rs 75 crore, respectively. 2 min read Last Updated : Aug 04 2024 | 10:27 …
Mumbai: The National Company Law Tribunal (NCLT) has admitted real estate developer Snehanjali S. B. Developers Pvt Ltd for insolvency. The tribunal has appointed Dinesh Kumar Deora as the interim resolution professional for the company. Snehanjali’s promoters—Jagdish and Gautam Ahuja – have been under the scanner of various police and investigating agencies for allegedly cheating …
MUMBAI :The National Company Law Tribunal has ordered insolvency proceedings against a Sahara Group subsidiary, deciding that a dispute raised by the company against its creditor was a means to avoid paying its dues. A Mumbai bench of the tribunal, led by Justice Kishore Vemulapalli, held that Sahara Q Shop Unique Products Range had defaulted …
New York CNN — Evergrande’s US bankruptcy serves as a cautionary tale about the growth-at-all-costs model that underpinned China’s spectacular growth over the past 30 years. For decades, Evergrande, once one of China’s most successful real estate developers, gobbled up debt as China’s economy exploded. Demand for housing was so strong, homebuilders often pre-sold apartment …
The National Company Law Appellate Tribunal (NCLAT) has scheduled a hearing for IDBI Bank’s plea against Zee Entertainment in a payment dispute case on August 31, 2023. IDBI Bank has challenged a previous order from the National Company Law Tribunal (NCLT) that rejected its request to initiate insolvency proceedings against Zee Entertainment, a major media …