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Go First insolvency case: Promoters asked to reply on liquidation in 3 weeks

The NCLT has ordered the suspended board of Go First to respond within three weeks regarding the company's liquidation.

NCLT directs Go First's suspended board to reply in three weeks about liquidation proceedings, following the Committee of Creditors' majority vote. Previous efforts to find a buyer have failed, leading to this action.
Published on Sep 05, 2024 08:29 AM IST
PTI |

IIHL failed to deposit 2,750 crore as contribution for Reliance Capital buy

IIHL had to deposit ₹250 crore in a domestic escrow account and ₹2,500 crore in an offshore escrow account again designated by the lenders by July 31

Reliance Capital had a debt of over <span class='webrupee'>₹</span>40,000 crore, and IIHL and Torrent Investments participated in the resolution process.
Published on Aug 04, 2024 04:43 PM IST
PTI |

Byju's goes under insolvency: What happens to employees? Can they recover dues?

Byju's, once valued at $22 billion, entered a financial crisis with debts piling up when online education demand fell after the Covid-19 pandemic ended.

Around 160-200 former employees of Byju’s who were laid off due to falling revenues had complained to the Karnataka labour commissioner that their full settlement was not yet made. (Bloomberg)
Published on Jul 17, 2024 06:48 PM IST

Byju’s crisis: BCCI plea seeking insolvency proceeding against firm admitted

Byju’s crisis: BCCI's insolvency petition against Byju's admitted by NCLT over alleged unpaid dues of ₹158 crore for Indian cricket team sponsorship.

Byju's logo is seen in this illustration taken.(Reuters)
Updated on Jul 16, 2024 03:28 PM IST
By | Edited by

NCLT tells Byju's to pay salaries or face audit: ‘You should be having revenues’

NCLT warned the crisis-hit company that in case employees are not made, an audit will be made by the Institute of Chartered Accountants of India.

Byju's logo is seen in this illustration.(Reuters)
Updated on Jul 04, 2024 02:05 PM IST
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