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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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Former England footballer Trevor Sinclair has been declared bankrupt after a judge accused him of “burying his head in the sand” for failing to pay a five-figure amount related to his media work in 2021 and 2022, Sportstar reported. Sinclair, a 2002 World Cupper with the Three Lions, joined the Indian men’s team as part of its coaching staff during the AFC Asian Cup in Doha, Qatar, in January 2024. However, the team failed to score any goals and exited in the group stage after losses to Australia, Uzbekistan, and Syria.
The National Company Law Tribunal (NCLT), Ahmedabad has admitted two separate insolvency petitions filed by Indian Renewable Energy Development Agency (Ireda) against Gensol Engineering (GEL) and its subsidiary Gensol EV Lease (GEVL), initiating corporate insolvency resolution processes (CIRP) against both companies, the Times of India reported. In the case of Gensol Engineering, the tribunal admitted Ireda’s petition for defaulted dues amounting to Rs 510.10 crore. The defaults stemmed from term loan facilities extended by Ireda for various projects undertaken by GEL.
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Shares of Gensol Engineering slid 2% in Thursday's trading session to their day’s low of Rs 51.45 on the BSE, as the Ahmedabad bench of the National Company Law Tribunal (NCLT) reserved its order on two insolvency pleas filed by Indian Renewable Energy Development Agency (IREDA) against Gensol Engineering (GEL) and its subsidiary Gensol EV Lease (GEVL) over a combined loan default of Rs 729 crore, the Economic Times of India reported.
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The Mumbai bench of National Company Law Tribunal (NCLT) has allowed a 90-day extension in the ongoing consolidated corporate insolvency resolution process (CIRP) of Lavasa Corp beginning May 29. The planned city project is undergoing a fresh CIRP after the NCLT, in September 2024, directed that the entire process be restarted, following the successful bidder's failure to implement the approved resolution plan within the specified time frame.
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