NCLT admits BluSmart Mobility into insolvency

BENGALURU: The National Company Law Tribunal (NCLT) in Ahmedabad has admitted Catalyst Trusteeship’s petition against electric‑cab operator BluSmart Mobility for defaulting on dues of about Rs 1.28 crore. The tribunal’s order initiated the corporate insolvency resolution process (CIRP) and appointed NPV Insolvency Professionals Private Ltd as the Interim Resolution Professional (IRP).BluSmart, once a high‑profile player…

Read More

Railroad consolidation push: Union Pacific proposes $85bn merger with Norfolk Southern to create first US transcontinental network; STB nod seen as key hurdle

Union Pacific on Tuesday announced an $85 billion proposal to acquire Norfolk Southern, a move that would create the first coast-to-coast freight railroad in the US and could potentially trigger a final wave of consolidation in the rail industry.The merger would link Union Pacific’s vast network across the western US with Norfolk Southern’s operations in…

Read More