Yearender 2024: iSun, a solar energy solutions, has also filed for bankruptcy. The company's bankruptcy raises concerns about the viability of the renewable energy sector given its financial troubles.
The Supreme Court has overturned the NCLAT’s approval of a Rs 158 crore settlement with the BCCI, highlighting procedural lapses in handling bankruptcy petitions.
In a statement, WeWork said it entered into a restructuring support agreement with stakeholders to “drastically reduce” the company’s debt while further evaluating WeWork’s commercial office lease portfolio.
Yediyurappa emphasised that the Congress-led government, in power for the past five to six months, had failed in numerous sectors, leading to a state he described as "totally bankrupt." He announced the BJP's intention to protest against the government's alleged failures and irresponsible practices.
Earlier this month, the Go First airline announced bankruptcy and suspension of all its flights due to the shortage of engines for its fleet.
The problems with airlines' engines and grounded planes come as the travel industry tries to recover from the devastating Covid pandemic and as demand for travel increases.
Go First bankruptcy: Recently, Air India had advertised that the airline will hire more than 1,000 pilots for its fleet with the tagline "Let's fly to new heights, together."
Go First news: According to the airline, the arbitrator ordered P&W to supply at least 10 serviceable spare leased engines by April 27 and a further 10 spare leased engines per month until December 2023.
The critical statement from P&W came as the Indian ultra-low-cost airline based in Mumbai accused Pratt & Whitney of not supplying engines.
The collapse of Silicon Valley Bank rattled the banking industry and led the FDIC and other regulators to act to protect depositors to prevent wider financial turmoil.
The order is said to impact over 25,000 homebuyers who are awaiting possession of their homes booked with the developer for several years.
Including the latest payment, Sri Lanka has foreign debt obligations exceeding $7 billion in 2022, including repayment of another bond worth $1 billion in July.
Rajesh Khattar in a recent interview shared the bankruptcy rumours amused him in the beginning but soon his sons Shahid Kapoor and Ishaan Khatter's names were dragged into it which was in a bad taste.
Two offshore companies of IL&FS Group, ITNL Infrastructure Developer LLC, ITNL International DMCC have filed for bankruptcy in Dubai.
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.
The Reserve Bank on Friday sent the crippled Dewan Housing Finance Corporation (DHFL) to the bankruptcy tribunal, making it the first NBFC/HFC to be resolved under the insolvency and bankruptcy code.
Forever 21, capped months of speculation by saying that it would cease operations in 40 countries including Canada and Japan. The brand would close 178 stores in USA and 350 overall.
Debt-ridden firm IL&FS has approached the National Company Law Appellate Tribunal (NCLAT) seeking the release of around Rs 145 crore held by Gujarat Urja Vikas Nigam.
The British government said the return of the firm’s 150,000 British customers now abroad would be the largest repatriation in its peacetime history. The process is set to begin later Monday and officials warned that delays are inevitable.
The cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by SBI on behalf of 26 lenders on June 20.
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