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Direct route versus recognition route â€" Hong Kong court's modern approach in Up Energy case - Commentary

�� 11 minutes In Hong Kong, a foreign company can be wound up via the "recognition route" (whereby a winding-up order is obtained from the company's place of incorporation then enforced in Hong Kong) or the "direct route" (whereby the Hong Kong Companies Court has the power to directly make a winding-up order against a non-Hong Kong company). A recent decision consolidates the previous line of cases that have preferred the direct route and reflects a shift in the courts' attitude.

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Rs 589 crore cheating case: FIR against 4 power co directors in Mumbai | Mumbai News

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Mumbai: The city’s economic offences wing (EOW) police have registered a case against four directors of a power generation firm and several others for transferring its compulsory convertible debentures (CCDs) with a face value of Rs 137 crore to another company illegally without the knowledge of key office bearers. The market value of the CCDs is Rs 586 crore.
C Kalaiselvan (35), a director with SKS Power Generation Company Ltd (SPGCL), on behalf of his company, lodged an FIR at the MIDC police station recently.
The SPGCL’s power generation plant is in Chhattisgarh while it’s headquarter is in Mumbai’s Andheri area. Four old directors of the firm have been named as accused in the FIR, which is now being probed by the EOW. “We have registered a case of cheating. The total cheating amount is around Rs 589 crore,” said Niket Kaushik, EOW chief.

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