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EBIX BANKRUPTCY
New owners of Ebix suspend chairman Robin Raina; kick off investigation into financial irregularitiesEraaya Lifespaces, which acquired Ebix for $151 million through a successful bidding process in August this year, also asked Raina and some...- India operations not impacted by parent Ebix bankruptcy filing: EbixCashEbixCash clarified that about 200 affiliates of Ebix working outside the US are not included in the US-only Chapter 11 filing and will cont...
- Ebix's bankruptcy filing in US won't affect India operations, clarifies EbixCashEbix Inc, the parent entity for Indian payments and remittance company EbixCash, has filed for bankruptcy protection in a Texas court after...
- Deepfakes a ticking bomb for video KYCs; Indian startups cut 28,000 jobs in brutal 2023Nithin Kamath, the chief executive of Zerodha, one of India’s largest stockbrokers, took to social media to post a deepfake image of himsel...
- US parent of EbixCash files for bankruptcy after $617-million loan defaultThe Chapter 11 filing comes after the software services company for insurance and healthcare sector, founded by Indian origin businessman R...
- Adani Properties, Jindal Power Ltd submit EoI for Videocon Industries and its 12 unitsIn a parallel development, the Supreme Court is scheduled to hear on Monday an appeal by the winning bidder, Twin Star Technologies, agains...
- Videocon Industries lenders to vote on restarting the corporate insolvency process“Although the court has directed to restart the process, lenders can go ahead with it only after a resolution on this is passed by the requ...
- Supreme Court rejects Ebix’s plea to withdraw Rs 400 crore offer for EducompEbix has claimed that the RP withheld information about such investigations from it and has cited the investigations as one of the reasons ...
- SC asks NCLT, NCLAT to strictly adhere to IBC timelines, clear pending resolution plansThe NCLT had allowed the withdrawal application filed by Ebix under Section 60(5) of the IBC to withdraw its Resolution Plan submitted for ...
- NCLT approves Ebix’s revival plan for Trimax IT InfrastructureEbix Software India (ESIPL) will pay upfront Rs 75 crore to acquire the company. The company owed over Rs 1,918 crore to its lenders, inclu...
- How the collapse of Thomas Cook UK and Cox & Kings helped India's travel businessesPlenty of new entrants — some of them like FCM or TUI are foreign majors, others like Kesari and Club7 or Akbar Online are Indian companies...
- Ebix, MakeMyTrip in race for Cox & KingsFar & Wide Talks are on with Cox & Kings promoter Peter Kerkar and 21% stakeholder Yes Bank; valuation depends on lenders’ haircut.
- After Yatra, Ebix sets sights on debt-hit IT firm TrimaxEbix is holding discussions with a consortium of lenders led by State Bank of India, the people said.
- Stakeholders of Tecpro, Educomp accuse promoters of flouting IBC rulesEight Capital has filed its objection against insolvency proceedings of Tecpro. In another matter, FIITJEE has made similar charges against...
- World Bank arm seeks independent investigation into Educomp bankruptcyIFC’s petition was filed under Section 65 of the Insolvency and Bankruptcy Code, which covers “fraudulent or malicious” initiation of bankr...
- Educomp: Cautionary tale of a sudden fall from a star business to a bankrupt firmIt was a case of unbridled growth and the inability to manage it, leading to creative accounting, fudging of books. It’s almost similar to ...
- Auditor BDO flags rule violations in Educomp dealsLast month, Educomp lenders had unanimously cleared a proposal for its sale to Nasdaq-listed Ebix Inc at close to a 90% discount to the val...
- Final resolution plan for Educomp Solutions submitted to NCLTEbix Inc, a supplier of on-demand software solutions and e-commerce services to the insurance industry in offshore and custom software deve...
- Ebix leads the race to buy Educomp with Rs 325-crore bankruptcy offerEbix trumped a bid by little-known family office Boundary Holdings, which manages wealth for London-based investor Rajat Khare, a former Ed...
- Ebix, London-based investor in race to acquire Educomp SolutionsEbix and the London-based investor will be called for discussions and further negotiations after the offers are reviewed, according to peop...
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