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National Company Law Appellate Tribunal News
National Company Law Appellate Tribunal
Jaypee Infratech insolvency: NCLAT says banks can vote against NBCC proposal
Mon, Jun 10, 2019
"As the voting is going on, we are not inclined to pass any orders. We make it clear that if any financial creditor remains absent from voting, their voting percentage would not be counted," the Appellate Tribunal said.
NCLAT sets aside Jyoti Structures liquidation, asks NCLT to consider Rs 4K-cr plan by Sanghi, others
Sun, Mar 24, 2019
The National Company Law Appellate Tribunal (NCLAT) has set aside the order to liquidate Jyoti Structure and asked the Mumbai bench of NCLT to consider the Rs 4,000-crore resolution plan submitted by Sharad Sanghi and others.
Lenders can move insolvency plea against guarantor without initiating CIRP for defaulting companies: NCLAT
Sun, Jan 20, 2019
"We hold that it is not necessary to initiate Corporate Insolvency Resolution Process against the principal borrower before initiating 'Corporate Insolvency Resolution Process' against the corporate guarantors.
NCLAT stays corporate insolvency proceeding against ECL
Sun, Dec 23, 2018
"The application filed by the operational creditor... is hereby admitted for initiating the Corporate Insolvency Resolution Process in respect of Eastern Coalfields...," Justice Madan B Gosavi had said in his December 19 order.
Aditya Birla group firm UltraTech Cement bid cleared, set to bag Binani Cement, Dalmia Bharat gets snubbed
Thu, Nov 15, 2018
UltraTech is set to bag Binani Cement, with the National Company Law Appellate Tribunal (NCLAT) on Wednesday approving the revised bid of Aditya Birla group firm UltraTech Cement while rejecting the earlier preferred offer of Dalmia Bharat group as discriminatory.
Gujarat NRE Coke promoter hopes favourable NCLAT outcome
Sun, Oct 07, 2018
The Jindal Steel & Power Ltd, an unsecured creditor with only 0.5 per cent of the total debts of Gujarat NRE Coke, has obtained an ex-parte order of NCLAT on July 12 to stay the meeting scheduled on July 16.
ArcelorMittal revises bid for Essar Steel to Rs 42,000 cr
Tue, Sep 11, 2018
The NCLAT had allowed the Committee of Essar Steel Creditors, who are auctioning the company to recover their Rs 49,000 crore unpaid loans, to negotiate the best price from eligible bidders.
NCLAT declines stay on Tata Sons' conversion to pvt co; says Cyrus Mistry can't be forced to sell stake
Fri, Aug 24, 2018
In September last year, Tata Sons had received shareholders' nod to convert itself into a private limited company from being a public limited company, limiting in effect Cyrus Mistry family's ability to sell their stake to outsiders.
NCLAT stays Jyoti Structures liquidation
Wed, Aug 22, 2018
The appellate tribunal has directed the Mumbai bench of the National Company Law Tribunal (NCLT) and the resolution professional of the company not to take any steps in this regard.
Nirav Modi firm directors face crackdown, assets under seizure threat now
Mon, Apr 30, 2018
In one of the rare cases where independent directors are held liable in a financial fraud case, the National Company Law Appellate Tribunal (NCLAT) has ordered the freezing of the personal assets of high profile executives who served as independent directors on the Board of companies of Nirav Mod
Essar Steel sale hits another legal wall, this time in the form of Numetal
Fri, Apr 27, 2018
The sale of Essar Steel assets under Insolvency and Bankruptcy Code (IBC) hit another legal hurdle on Thursday with the Numetal consortium moving the National Company Law Appellate Tribunal (NCLAT) to prevent the lenders from declaring initial bidders ineligible.
Tata battle: NCLAT grants shareholding waiver to Mistry
Thu, Sep 21, 2017
Mistry has been locked in a legal battle with the Tatas since his unceremonious exit as chairman of Tata Sons -- the promoter company of the USD 105-billion car-to-software Tata group in October last year.
McDonald's row: NCLAT refuses to pass interim order
Thu, Sep 07, 2017
This means the fate of 169 McDonald's stores in north and east India hangs by a thread as CPRL's licence to operate the outlets lapsed on September 5.
NCLAT intervenes in McDonald's, Vikram Bakshi dispute; asks both to wait till August 30
Fri, Aug 25, 2017
The NCLAT has directed both McDonald's and Vikram Bakshi to not take any action against each other till August 30.
INOX Wind moves appellate tribunal against NCLT order
Sun, Jul 16, 2017
The statement comes in the wake of news reports that claimed Inox Wind Ltd (IWL) was on road to insolvency after the Chandigarh bench of NCLT cleared the process on the plea of Jeena & Company over pending dues.
NCLAT dismisses Cyrus Mistry's petition against Tata Sons EGM on February 6
Fri, Feb 03, 2017
National Company Law Appellate Tribunal has rejected former chairman Cyrus Mistry's plea against Tata Sons on holding the Extraordinary General Meeting (EGM) on February 6 seeking his removal from the company's board.