Two offshore companies of IL&FS Group, ITNL Infrastructure Developer LLC, ITNL International DMCC have filed for bankruptcy in Dubai.
The Lok Sabha on Monday passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 amid the coronavirus pandemic.
The club was relegated from the Premier League in 2013 — the same year it shocked Manchester City in the FA Cup final.
Once-booming material recycling industry has come to a standstill after the lockdown, bringing thousands of traders to the brink of bankruptcy as they face mounting levies from shipping liners and freight stations for stuck containers
World's largest co-ed gym chain -- Gold's Gym -- has filed for bankruptcy after it shut down several branches across the world due to the disruptions caused due to the COVID-19 lockdown that has been in place in most major countries.
Chief Insolvency and Company Court judge Briggs, in his verdict delivered Thursday, said there is no obvious advantage to the banks to pursue this class action at this point in time.
Parliament on Thursday passed amendments to the insolvency law that will help ring-fence successful bidders of insolvent companies from risk of criminal proceedings for offences committed by previous promoters.
Vodafone Idea could be the largest bankruptcy ever in India as the inability to pay dues under the adjusted gross revenue (AGR) may push the Vodafone Plc and Aditya Birla joint venture in that direction.
Priyanka Gandhi Vadra said she Nirmala Sithraman is the finance minister of the whole country and must find a solution to the rising prices of onions as middlemen are benefiting greatly due to the "bankruptcy" of her policies.
Twelve Indian banks have demanded that Vijay Mallya be declared bankrupt for failing to clear his debt. Mallya reportedly owns properties worth millions of pounds in the UK
On November 20, the Reserve Bank superseded the DHFL board and appointed an administrator and said it would begin bankruptcy process for the crippled company that owes close to Rs 90,000 to the system.
The Reserve Bank of India (RBI) on Wednesday superseded the board of debt-laden Dewan Housing Finance Corporation Limited (DHFL). The central bank will soon refer DHFL for insolvency proceedings, the RBI said in a statement.