Latest news with #Roopal
IOL News
28-05-2025
- Business
- IOL News
Business rescue practitioners prepare to file court papers to exit Post Office
Business rescue practitioners say they have informed the Department of Communications and Digital Technologies of the pending court application to terminate the business rescue at the South African Post Office. Image: Independent Newspapers Archives The business rescue practitioners are preparing to file papers with the High Court as part of the exit strategy from the South African Post Office (SAPO). This was revealed by co-business rescue practitioner Anoosh Roopal, along with his co-business rescue practitioner Juanito Damons, who briefed the Communications and Digital Technologies Portfolio Committee on Wednesday. 'We are in discussions with the department around the business rescue having to end and business rescue practitioners having to leave,' Roopal said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ SAPO was placed under provisional liquidation in February 2023 and later on business rescue in July 2023 after the board of directors was dismissed two months earlier. Upon their appointment, Roopal and Damons developed a business rescue plan that was approved by the creditors and then assumed management control of the business. Roopal said they were now in discussions with the Department of Communications and Digital Technologies and preparing a court application to terminate the business rescue process. This takes place as the financial plan to ensure SAPO remained a going concern was being finalised amid moves to secure payment of R509 million of statutory and payroll creditors owed to the South African Revenue Service (SARS) and medical aid schemes. 'Despite the R3.8 billion not being provided, the business rescue practitioners and the department are in discussions to develop an alternative plan to pay the remaining 18-cent creditors,' he said. Damons told the committee that they had already consulted their attorneys about the pending application, and the department was aware that they were preparing an application. 'We will ask the court to terminate the business rescue, and we would also ask for consent so that Anoosh and I can file with the Companies and Intellectual Property Commission a notice of substantial implementation.' Damons said the application comes at a good time, as there was a specialised court in Gauteng that dealt with insolvency and business restructuring. 'To get to that court, it will take us about three to four weeks if we go on a semi-urgent basis, for example,' he said. Court papers will be drafted next week, and engagements with the department and the unions will take place to make sure all are on the same wavelength. Damons said that when a business enters business rescue, it has to show that the company does not have the financial ability to cover its operational expenses when they become due and payable. 'At SAPO, at least that does not give us sleepless nights, we have enough funding from June and the ensuing six months. SAPO will be able to pay its operational expenses next six months.' Roopal said SAPO now has a turnaround strategy in line with its fulfillment of the strategic objectives at the entity. 'What we did was the turnaround strategy. We are quite comfortable that the Post Office has been equipped with a strategy that is viable. All of this depends on funding,' he told the committee. He also said they were looking together with the Department of Communications and Digital Technologies to find an alternative to pay about R509m owed to statutory bodies such as SARS and medical aids. 'That will discharge the rescue plan and hand over the business back to the shareholder,' said Roopal. Damons said the department has asked them to negotiate with the creditors owed R509m in statutory and payroll deductions. 'We started talking to these creditors about possible deferment of payment. The department asked us to have a discussion around deferring these payments until 31 March 2026. We reached out, and we have not finalised anything.' However, Damons said there was a lot of work left in terms of the exit strategy. 'We don't want to be irresponsible by leaving SAPO and finding they are back in this situation, and there is another application looming. 'Exiting business rescue would mean giving up the moratorium that is in place that protects SAPO from any legal proceedings; to start proceedings must get consent of business practitioners before approaching the court.'
Time of India
29-04-2025
- Entertainment
- Time of India
Roopal Tyagi on International Dance Day, says ‘I've been dancing since I was a kid, it will always be my first love'
Actress , widely known for her role as Gunjan in Sapne Suhane Ladakpan Ke, has long nurtured a deep passion for . On the occasion of , observed on April 29 to celebrate the art form's universal impact, Roopal opens up about how dance has been an inseparable part of her journey. Tired of too many ads? go ad free now "I've been dancing since I was a kid—every birthday party since I was five!" Roopal shared warmly. 'Dance is the way I express joy, emotion, and energy. It's a celebration of life itself. It has the power to heal, unite, and uplift.' While she earned fame as an actor, Roopal's foundation was built in movement. She previously appeared in like Jhalak Dikhhla Jaa 8 and Dance India Dance Li'l Masters 2, and was even an assistant to renowned choreographer Pony Verma. 'I had the chance to choreograph stars like Shahid Kapoor and Vidya Balan during my early days. It was an unforgettable learning phase before I transitioned into acting,' she recalled. Reflecting on her creative journey, she said, 'Dance is and always will be my first love. Whether it's grooving in the kitchen or turning those moments into reels, it keeps me connected to my audience and myself.' She credits her unwavering passion not to any single inspiration, but to her own instincts and her family's support. 'I was too young to be inspired by others—dance was just in me. My family always encouraged it, and seeing me happy made them happy too. ' Known for roles in Dill Mill Gayye, Ranju Ki Betiyaan, and Shakti – Astitva Ke Ehsaas Ki, Roopal concluded with a powerful message: 'Dance is a universal language that unites us across cultures. Find that one thing that makes you move—and do it. Movement keeps the body and spirit alive.'
