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SC blocks Ponzi schemes’ move to NCLT

DNMUM405290 | 1/12/2018 | Author : Manju AB | WC :481

Intervenes on behalf of Citrus, Royal Twinkle investors; says promoters prima facie colluded with petitioners
Mumbai: The case of two Ponzi schemes of Citrus Holidays and Royal Twinkle, which were dragged into the National Company Law Tribunal (NCLT), has taken an interesting twist after a group of investors moved the Supreme Court against liquidating the company.
The apex court has stayed the proceedings of the Mumbai bench of the NCLT that had admitted the petition for initiating Corporate Insolvency Resolution Process against Royal Twinkle Star Club Ltd and Citrus Check Inns Ltd, two timeshare and collective investment schemes where over 18 lakh investors had put in nearly Rs 7,500 crore of their savings.
The Supreme Court, while passing its order on January 8, observed that prima facie it seemed to be a case where there is a collusio
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Fashion meets fitness
DNMUM422652 | 9/21/2018 12:00:00 AM | Author : Priyanka Golikeri | WC :628

From Vera Wang to Stella McCartney and Kanye West to Selena Gomez, designers and celebs across the world are trending in the activewear mania.Staid formals and ostentatious ethnic wear are making way for athleisure, a clothing style that marries the
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LNG buyers turn to tenders for long-term purchases
DNMUM422653 | 9/21/2018 12:00:00 AM | Author : Shahkar Abidi | WC :228

Mumbai: LNG buyers are making the best of a surge in gas supply. Most of the recent sale-purchase agreements (SPAs) with a term of over two years were done through the tender route, Petronet LNG Ltd highlighted in its annual report. Traditionally, te
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Directors to pay `500 late fee for KYC till Oct 5
DNMUM422654 | 9/21/2018 12:00:00 AM | Author : DNA Money Correspondent | WC :392

New Delhi: The directors whose Director Identification Numbers (DINs) were deactivated following non-filing of new know-your-customer norms can get them reactivated by giving KYC details with a late fee of Rs 500. They can file the e-form till Octobe
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‘Castrol will go for third price increase’
DNMUM422655 | 9/21/2018 12:00:00 AM | Author : Shahkar Abidi | WC :469

Omer Dormen, MD of Castrol India Ltd, in an interview with Shahkar Abidi, speaks about over several issues facing the industry including the push for electric vehicles, shortage of raw materials for lubricant-making, challenges in the BS-VI era for a
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