Adesh Kumar Gupta, Liberty Group Liberty Shoes has removed its Executive Director Adesh Kumar Gupta from the board after the National Company Law Tribunal (NCLT) dismissed his petition seeking exemption on requirements to file a plea, according to a regulatory filing. Gupta, who along with some other shareholders holds 5.83 per cent of the company,…
Lenders to Bombay Rayon Fashions have rejected all the resolution plans received for various assets of the textile manufacturer. The Mumbai-based company has admitted liabilities of ₹7,234 crore, including ₹6,690 crore financial dues. In March, over a dozen companies including Lalbhai Group-promoted Arvind, as well as entities of the Donear Group, Welspun Group and JM…
Public sector lender State Bank of India (SBI) has taken PC Jeweller to the National Company Law Tribunal (NCLT) with a plea to initiate insolvency proceedings against the city-based jewellery manufacturer and retailer claiming a default. A Delhi-based principal bench of NCLT had issued a notice to PC Jeweller last week directing it to file…
