Regulatory News
A round-up of regulatory and conduct updates and communications from the ICAEW Professional Standards Department.
Source: icaew.com
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AlgoWatt S p A : The Board of Directors resolved to file an application for composition "with reservation" pursuant to Articles 44 and 284 of Legislative Decree No. 14 ss.mm.ii. of 12 January 2019 with the Court of Milan -December 29, 2023 at 01:26 pm EST
The Board of Directors of algoWatt, a GreenTech Company listed on the Euronext Milan market of Borsa Italiana, met today under the chairmanship of Stefano Neri and in the presence of...
Source: marketscreener.com
Reimagining Insolvency Resolution: Reverse CIRP A Game-Changer For India's Real Estate Sector
The real estate industry is one of the thriving sectors in the modern business world. There are three parties in the real estate business – the real estate companies and their promoters (who develop...
Source: livelaw.in
insolvency: Insolvency & Bankruptcy Code cannot be used as a tool for recovery; says NCLT
The National Company Law Tribunal (NCLT) in India has dismissed a plea to initiate insolvency against Orris Infrastructure, stating that the Insolvency & Bankruptcy Code (IBC) cannot be used as a "tool for recovery". The NCLT observed that the applicants had already received full payment from Orris Infrastructure in excess of the default amount. The applicants had signed an agreement with the realty firm, which included monthly assured returns. The construction was completed in 2013, and the occupation certificate was received in 2017, ending the period for paying assured returns...
Source: indiatimes.com
NCLT admits insolvency resolution plea against Goli Vada Pav
NCLT passed the order on a plea by Vista Processed Foods Pvt Ltd, which has accused Goli Vada Pav of failing to repay a debt of Rs 3.56 crore
Source: moneycontrol.com