The National Company Law Tribunal (NCLT) faces significant operational challenges due to vacant positions, a Times of India report highlighted on October 15. Out of the 63 sanctioned seats, including the president, 19 are vacant. At the end of September, 11 members retired, adding to the existing eight vacancies, the report (by Sidhartha) said. Currently, only 13 out of 30 courts are operational full-day while 12 function for half-day because of the shortage of members.

Singapore oil tycoon Lim Oon Kuin will be sentenced on November 18 for cheating and forgery in one of the biggest trading scandals to rattle the energy-trading hub, Bloomberg News reported. In a Singapore court on Tuesday, public prosecutor Christopher Ong argued for a 20-year jail sentence for Lim on three counts, including instigating forgery and deceiving HSBC Holdings Plc. Lim’s defence lawyers led by Davinder Singh sought a 7-year period. The sentence is the latest development in the dramatic downfall of the founder of now-defunct oil company Hin Leong Trading Pte.

Aerospace and defense manufacturer Moog has agreed to pay $1.7 million to settle allegations its India subsidiary bribed officials to secure contracts with Indian government officials and to eliminate competitors from the bidding process, the Wall Street Journal reported. Moog, of East Aurora, N.Y., agreed to pay a civil penalty of $1.1 million and to pay disgorgement and prejudgment interest of around $600,000. The company, which didn’t admit to or deny the Securities and Exchange Commission charges, also agreed to cease and desist from future such conduct.

With China’s economy sinking deeper into a funk last month, Xi Jinping finally decided something had to be done. After resisting calls to take forceful steps to prop up the economy for two years, Xi relented in late September and ordered a barrage of interest-rate cuts and other measures to put a floor under growth. But Xi didn’t give his economic mandarins a blank check.

The Chinese government’s flurry of stimulus measures has upended the country’s stock markets. It has also brought potential home buyers back into the marketplace, raising hopes that official attempts at boosting confidence can rekindle a sector critical to any lasting rebound, the Wall Street Journal reported. Home viewings and sales of new and previously owned homes jumped in China’s biggest cities during the recently concluded weeklong National Day holiday, state media reported, while rising more modestly in lower-income cities.

China’s exports slowed sharply in September as global demand weakened, adding to worries over how to recharge growth in the world’s second-largest economy, the Associated Press reported. Exports rose 2.4% in dollar terms from a year earlier last month, down from 8.7% year-on-year growth in August, the Chinese customs office reported Monday. Imports rose just 0.3% in September. China recorded a trade surplus of $81.7 billion in September, down from $91 billion in August. China’s leaders have been struggling to rev up the economy since the COVID-19 pandemic ended. The U.S.

The South Korean Financial Services Commission (FSC) is set to probe Upbit, a prominent cryptocurrency exchange, for alleged anti-monopoly crimes. The investigation began when legislators expressed worries about Upbit's market dominance and ties with online bank K-Bank, TheStreet.com reported. During a parliamentary audit, MP Lee Kang-il emphasized Upbit's considerable market share and K-Bank deposits' impact. Upbit controls more than half of the South Korean cryptocurrency market, with a 24-hour trading volume topping $1.18B.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has cautioned homebuyers against buying any properties in a total 314 projects registered with the authority that are undergoing proceedings at the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) of 2016, the Economic Times of India reported. Various banks, financial institutions, and other entities extending line of credit to the real estate sector have initiated the Corporate Insolvency Resolution Process (CIRP) against these companies.