Share Tweet Plus One Pin It Email Print By: P.V Dinesh December 19, 2018 3:24 pm Change Font Size Recently, on 26th November 2018, the Corporate Affairs Secretary Mr.Injeti Srinivas informed the country that out of the 9,000 cases filed before the National Company Law Tribunal (NCLT), 4,400 cases have been disposed of, leading to a recovery of approximately Rs.71,000 crores. The total bad debts assessed so far that is owed to the public sector banks in India amounts to Ten Lakh Crores of Rupees. As per the report published by the Insolvency and Bankruptcy Board of India(“IBBI”),in respect of the 32 companies which are stated to have been resolved in insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (“IBC”), there is a recovery of Rs.49,783 crores which amounts to 56 % recovery. The balance, i.e., Rs.39,619 crores is written off, which would otherwise have been payable by these 32 companies. In the case of the 136 … [Read more...] about Insolvency Proceedings – Safe Passage for Defaulters?
The National Labor Relations Board yesterday began public hearings on proposed changes to its rules governing representation elections. The proposed rules were published in the Federal Register on February 6, 2014. See Notice of Proposed Rulemaking Representation-Case Procedures.The deadline for initial public comments on the rules ended on April 7; reply comments are due on April 14. The proposed rules, commonly referred to as the “quickie” or “ambush” election rules, because they seek, among other things, to significantly shorten the period between the date a union files a representation petition and the date of the election, essentially are the same rules that were proposed by the NLRB in June, 2011. Those rules were modified, and made final in December that year. The rules were struck down by a federal district court in July 2012 on the ground the Board lacked a quorum when they were issued. See Chamber of Commerce … [Read more...] about NLRB (National Labor Relations Board) Begins Public Hearings on Proposed New Election Rules
Sep 24, 9:09 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury World By AFP News 09/24/19 AT 8:46 AM Air strikes allegedly carried out by the Saudi-led coalition fighting Iran-backed rebels in Yemen on Tuesday killed 16 people including seven children, an official and a doctor said.The raid came days after the Huthi insurgents offered to halt drone and ballistic missile attacks on Saudi Arabia as part of efforts to end a war that has pushed Yemen to the brink of famine.The rebels claimed responsibility for the September 14 attacks on Saudi oil installations that knocked out half of the OPEC kingpin's production and sent shockwaves through energy markets.The United States and Saudi Arabia have however blamed Iran, saying the strikes were carried out with advanced cruise missiles and drones.Tuesday's air strikes in Qatabah in Daleh province in south Yemen, partly controlled by the rebels, marked the first major attack believed to have … [Read more...] about 7 Children Among 16 Killed By Air Strikes In Yemen