Bank Of India Initiates Insolvency Proceedings Against Future Retail

Financial institution Of India has initiated insolvency proceedings in opposition to Future Retail New Delhi: Financial institution of India has moved the Nationwide Firm Regulation Tribunal (NCLT), submitting a petition to provoke insolvency proceedings in opposition to debt-ridden Future Retail Ltd (FRL). Earlier this month, FRLΒ had reported a default of Rs 5,322.32 crore to its …

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Zee's Shareholder Invesco to Sell 7.8% Stake in Zee Via Block Deal Today

US funding agency Invesco, which was till just lately locked in a boardroom battle with Zee Leisure Enterprises Ltd, has determined to cut back its stake within the latter by way of a block deal on April 7. Invesco, which is presently Zee’s largest shareholder and holds a complete of 17.88 per cent stake together …

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Artificial Intelligence Could Be Used for Early Resolution of Matters: NCLT President

New-age applied sciences similar to Synthetic Intelligence (AI) may very well be used for early decision of issues, together with insolvency instances, Nationwide Firm Regulation Tribunal President Justice Ramalingam Sudhakar mentioned. Whereas addressing a national-level colloquium of NCLT, Justice Sudhakar prompt that AI can be utilized in case of decision, particularly within the admission of …

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Developer Supertech Declared Bankrupt, 25,000 Home Buyers May Be Impacted

New Delhi: Real estate developer Supertech was declared bankrupt by the National Company Law Tribunal (NCLT) on Friday in a move that could have an effect on 25,000 home buyers. The company law tribunal took the decision in respose to a petition filed by the Union Bank of India for non-payment of dues. In response, …

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SBI Says No Delay In Filing Of Case On ABG Shipyard Fraud

SBI has mentioned it has been diligently following the ABG Shipyard fraud case with the CBI New Delhi: Amid allegations of delay in submitting of grievance in opposition to the nation’s greatest financial institution fraud totaling Rs 22,842 crore, State Financial institution of India (SBI) on Sunday mentioned it has been diligently following the ABG …

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