Don't Fly Away: From Earning Rs 300 A Month To Becoming One Of The Richest Indians Who Grounded Quickly Again And Faced Bankruptcy
Riches To Rags: Jet Airways, once one of the biggest airlines in India, was founded by Naresh Goyal. But because of its high operational costs and stiff competition, the airline experienced financial difficulties. The airline was shut down in 2019, and Goyal resigned as chairman at the same time. He is currently engaged in legal disputes over unpaid fees and fraud allegations.
Aug 21, 2023, 18:18 PM IST
Vice Media Files For Bankruptcy, Lenders To Purchase It For Just $225 Million
Last month, Vice Media laid off more than 100 employees as part of restructuring its global organisations, along with shutting down its Vice News Tonight broadcast.
May 16, 2023, 11:20 AM IST
Vice Media Preparing To File For Bankruptcy: Reports
The digital-media disrupter, Vice Media is preparing to file for bankruptcy, if it fails to find a buyer, according to the New York Times citing two people with knowledge of its operations.
May 02, 2023, 08:09 AM IST
Cumulative recovery rate under insolvency resolution falls to 30.18 pc in September qtr: Report
The overall recovery rate implies a haircut of around 70 per cent for the lenders. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC), which provides for market-linked and time-bound resolution of stressed assets.
Nov 27, 2022, 16:21 PM IST
Ronnie Screwvala backed edtech startup Lido Learning files for bankruptcy after layoffs
Lido has failed to repay debts and has fallen behind on payments to former employees.
Sep 09, 2022, 09:18 AM IST
Celsius Network that recently laid off 150 employees, files for bankruptcy
Celsius Network, a cryptocurrency lending company files for bankruptcy. The company said it has $167 million in cash that will provide ample liquidity to the restructuring process.
Jul 14, 2022, 12:38 PM IST
Big blow to crypto market! Top crypto hedge fund Three Arrows Capital files for bankruptcy
Three Arrows Capital (3AC) has filed for bankruptcy in the US.
Jul 02, 2022, 14:15 PM IST
Tennis legend Boris Becker found guilty over bankruptcy, could face jail
London's Southwark Crown Court convicted Becker on four charges under the Insolvency Act, including removal of property, concealing debt and two counts of failing to disclose estate
Apr 08, 2022, 22:12 PM IST
Tennis legend Boris Becker accused of hiding trophies during bankruptcy trial
The former world No. 1 and six-time Grand Slam champion collected 49 singles titles out of 77 finals during his 16 years as a professional tennis player.
Mar 22, 2022, 11:39 AM IST
Rajesh Khatter bankruptcy: Actor refutes claims, upset over dragging of Shahid Kapoor, Ishaan Khatter in it
Actor Rajesh Khatter is upset with the claims of his bankruptcy by various media outlets.
Jun 13, 2021, 16:05 PM IST
Cafe Coffee Day on the verge of bankruptcy? India's popular hangout chain has a debt of Rs 280 crores
Cafe Coffee Day (CCD), which is India’s favourite hangout place is possibly at the verge of bankruptcy. According to a Business Standard report, this extremely popular café chain is has a whopping debt of Rs 280 crores.
Apr 08, 2021, 15:09 PM IST
Retailer Forever 21 to file for bankruptcy, close 178 US stores
Fast-fashion retailer Forever 21 Inc filed for bankruptcy late on Sunday, joining a growing list of brick-and-mortar companies that have succumbed to the onslaught of online sellers such as Amazon.com Inc and ever-changing fashion trends.
Sep 30, 2019, 22:05 PM IST
NCLAT allows promoters to regain control of firms at liquidation stage
In the liquidation case pertaining to Sterling Biotech, the NCLAT has set aside a bankruptcy court order to liquidate a debt-ridden company while allowing its promoters to take back control of the firm after making full payment to the lenders.
Sep 04, 2019, 15:26 PM IST
Finally, Jet Airways lands in NCLT as banks give up revival bid
The once largest private sector airline, started over 25 years ago by airline-ticketing-agent-turned-entrepreneur Naresh Goyal, stopped flying on April 17 after it ran out of cash and the unpaid lessors took away most of its 100-odd operational airplanes.
Jun 18, 2019, 13:21 PM IST
IBBI invites comments from public on regulations notified under Insolvency and Bankruptcy Code
The IBBI has evolved a transparent and consultative process to make regulations.
May 02, 2018, 00:30 AM IST
The Harvey Weinstein Company declares bankruptcy
The allegations against Harvey Weinstein, first documented by the New York Times on October 5, tipped the company into a death spiral.
Mar 20, 2018, 18:12 PM IST
No respite for banks as bad loans hit record $146 billion
A review of Reserve Bank of India (RBI) data obtained through right-to-information requests shows banks' total stressed loans - including non-performing and restructured or rolled over loans - rose 4.5 percent in the six months to end-June.
Oct 11, 2017, 12:39 PM IST
NCLT orders commencement of insolvency proceedings against Jaypee Infratech
National Company Law Tribunal has admitted insolvency petition of IDBI Bank against Jaypee Infratech. This decision of tribunal might give stress to around 32000 buyers. Watch to know more.
Aug 11, 2017, 16:04 PM IST
Cabinet approves proposal for bill to deal with bankruptcy in financial sector
The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities.
Jun 14, 2017, 15:28 PM IST
FM Jaitley orders ''immediate action'' towards implementation of Bankruptcy Code
Calling for time-bound implementation of the Insolvency and Bankruptcy Code (IBC) 2016, Finance Minister Arun Jaitley on Tuesday directed senior officials of his ministry to take "immediate action" on the key requirements of the legislation.
Aug 23, 2016, 20:25 PM IST
