Ola Electric's Unit Faces 2 Insolvency Petitions over Unpaid Vendor Dues

A unit of Ola Electric Mobility Ltd. is facing insolvency petitions from two of its key vehicle registration service providers in India over unpaid dues, adding to the EV maker’s mounting troubles, Bloomberg News reported. Rosmerta Digital Services Pvt. and Rosmerta Safety Systems — suppliers of vehicle registration services and high-security registration plates respectively — have separately filed insolvency pleas against closely held Ola Electric Technologies Pvt., citing unpaid invoices.
India
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Indian Commerce Ministry Assures Exporters to Protect Their Interests Amid U.S. Tariff Threat

The commerce ministry of India on Thursday assured domestic exporters, particularly those in labour-intensive sectors like leather and textiles, to protect their interests amid the US tariff threats, industry officials said, the Economic Times of India reported. The issues related to the country's exports were discussed during a virtual meeting chaired by Commerce and Industry Minister Piyush Goyal. Sectors like steel flagged concerns over the possible impact of US tariffs on exports.
India
United States
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Indian Insolvency Board Mulls More Regulatory Changes

Even as the amendments to be Insolvency and Bankruptcy Code (IBC) are getting delayed, the Insolvency and Bankruptcy Board of India (IBBI) has made a slew of regulatory changes in the past 18 months to enhance the efficiency of the resolution process, FinancialExpress.com reported. “Until amendments to the IBC are carried out, it’s only logical for the IBBI to make regulatory changes,” an official source told FE. Going forward too, the IBBI will be making significant changes to regulations to improve the efficiency, transparency, and effectiveness of the resolution process, the person added.
India
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Indian Payments Firm AGS Transact Technologies Faces Insolvency over Alleged Unpaid Dues

Indian payments services firm AGS Transact Technologies said on Saturday that a creditor plans to initiate insolvency proceedings against the company for non-payment of dues, Reuters reported. Maxwel Aircon India Private Limited, an operational creditor of the company, has alleged default in repayments and sought an initiation of corporate insolvency in the National Company Law Tribunal, AGS Transact said in an exchange filing. Maxwel Aircon did not immediately respond to Reuters' request for comment.
India
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