Telangana Chief Minister A Revanth Reddy’s plain speaking on the state finances teetering on the brink of bankruptcy has not gone down well with the Opposition parties, the BJP and BRS. Both parties demanded his resignation for failing to effectively govern the state.
Ravi Mittal, chairperson, Insolvency and Bankruptcy Board of India (IBBI) said companies in India have yet to learn to use the Insolvency and Bankruptcy Code (IBC) to make themselves more productive.
Notably, the post-pandemic jump in costs of raw materials such as plastic resin, as well as labour and freight, had only further dented Tupperware margins.
China’s Evergrande Group — once the country’s second-largest property developer — on Thursday submitted a bankruptcy petition in New York,…
Go First Airlines on Tuesday announced that its flight operations will remain cancelled from May 3 to May 5 adding that a full refund will be issued to the passengers.
NPS was a saviour of the sinking public finances and all state governments expect West Bengal have adopted the NPS one by one, the last being the then left-ruled state of Tripura in 2015. NPS had restored some discipline in public finances and contributed to making the states generate surpluses in their revenue accounts. Now the backward march will certainly take the states and the nation to the brink of financial disaster
BlockFi and eight of its affiliates have filed for Chapter 11 bankruptcy Code in the US Bankruptcy Court for the District of New Jersey to provide the company with the "opportunity to consummate a comprehensive restructuring transaction that maximises value for all clients and other stakeholders".
In a letter to FTX employees, accessed by CoinDesk, the former CEO apologized to them, saying he is "deeply sorry about what happened".
The Supreme Court on Friday noted that freebies announced by political parties may push the state towards imminent bankruptcy.
The winner will take charge of a bankrupt nation that is in talks with the IMF for a bailout, with its 22 million people enduring severe shortages of food, fuel and medicines.
