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National Company Law Tribunal News
National Company Law Tribunal
NCLT directs to initiate insolvency proceedings against real estate firm Ajnara
Thu, Sep 22, 2022
A two-member New Delhi-based bench held the insolvency petition filed on behalf of 113 allottees of Ajnara Ambrosia as maintainable and as per the builder-buyer agreement, it was bound to give possession within three years of booking
Bank of India moves NCLT against Future Lifestyle Fashions, files insolvency plea
Tue, Aug 30, 2022
Besides this, FLFL is already facing two other insolvency petitions. The first one is filed by its financial creditor Catalyst Trusteeship Ltd, claiming default of an amount of Rs 451.98 crore under section 7 of IBC.
NCLT initiates insolvency proceedings against Supertech Ltd
Fri, Mar 25, 2022
This is the second major setback for Noida-based developer in the last one year.
Year Ender 2021: With missed timelines, insolvency cases likely to speed up with improved infrastructure
Fri, Dec 31, 2021
The National Company Law Tribunal, the designated authority under the insolvency law, and the appellate tribunal NCLAT continued to grapple with a lack of resources in terms of vacant positions of judges and poor infrastructure.
Supplier says Flipkart not 'economically viable' after defaulting on payment
Wed, Nov 06, 2019
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against Walmart owned e-commerce company, Flipkart for defaulting on Rs 18 crore payment to one of its suppliers.
NCLT orders corporate insolvency resolution process against HDIL
Sat, Aug 31, 2019
NCLT orders corporate insolvency resolution process against HDIL. Watch this video to know more.
Jet Airways lenders decide to take airline to NCLT
Mon, Jun 17, 2019
Lenders of the embattled Jet Airways airline have decided to take it to National Company Law Tribunal (NCLT).
2018 saw greater advocacy by institutional shareholders: Report
Thu, Feb 14, 2019
Most of such resolutions were related to board appointments, stock options and board remuneration
Insolvency proceedings against Sikka Infra quashed by Law Tribunal
Fri, Feb 08, 2019
The action taken against the only Company of the Group i.e. Sikka Infrastructure Pvt. Ltd. has been dismissed by the NCLT.
IL&FS Transportation Networks delays Q2 results citing group co's NCLT proceedings
Thu, Nov 22, 2018
IL&FS Transportation Networks, part of the troubled IL&FS group, Thursday cited NCLT insolvency proceeding as the reason for delay in filing September quarter financial results with the stock exchanges and said it will declare quarterly numbers at the earliest.
How bank frauds, NPAs are hurting developers
Fri, Oct 12, 2018
SPML Infra is among the few construction companies in the country that has decades of expertise in social projects, especially water management apart from building roads and power projects for clients, including state public health departments, Delhi Jal Board, NTPC, Delhi Metro, among others.
NCLT Delays force 13 banks to auction off stressed corporate loans of Rs 33,949 cr to ARCs
Fri, Oct 12, 2018
Delays in resolutions at National Company Law Tribunals (NCLT) have forced 13 banks to auction off stressed corporate loans of Rs 33,949 crore to asset reconstruction companies or distressed funds with foreign funding.
Ramachandra Galla led Amara Raja to bring business under one entity
Mon, Aug 06, 2018
Promoters of Amara Raja Group, a major player in automobile batteries and power equipment headed by Ramachandra Galla, is consolidating the group holdings across the various companies under a newly formed holding entity, RN Galla Family Pvt Ltd.
NCLT allows Fortis to withdraw amalgamation scheme
Sat, Jun 16, 2018
Fortis Healthcare today said National Company Law Tribunal (NCLT) bench in Chandigarh has approved the withdrawal of the scheme of amalgamation between Fortis Malar Hospitals and SRL
NCLT approves Tata Steel's bid for Bhushan Steel
Tue, May 15, 2018
The National Company Law Tribunal (NCLT) has approved Tata Steel's bid submitted by the resolution professional for Bhushan Steel. NCLT has dismissed Bhushan Steel employees' plea opposing Tata Steel's bid. The tribunal has also imposed a fine of Rs 1 lakh on the company.
NCLT suggests IBBI review insolvency code regulations
Sun, May 06, 2018
The National Company Law Tribunal also said that the resolution professional (RP) should be competent and independent so that there are no interruptions in the process which lead to delays in disposal of insolvency cases. Besides, it has said the claims of operational creditors are neglected or ignored as the Committee of Creditors (CoC) has supremacy of the financial creditors (banks and financial institutions) who have control over the entire process
Binani Cement sale: UltraTech back in the race after hiccup
Thu, May 03, 2018
UltraTech’s revised bid needs to be submitted within three days to the resolution professional for consideration of the Committee of Creditors (CoC) and the whole process, which might involve getting fresh bid from Dalmia, has to be completed by June 24, about two months extension from the statutory 270-days deadline for insolvency resolution.
NuMetal, LNM back in fray for Essar Steel?
Fri, Apr 20, 2018
The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday put the ball back in the committee of creditors’ (CoC) court by ordering it and the resolution professional (RP) of Essar Steel to re-examine the eligibility of the two bids submitted in the first round.
ICICI Bank share price plunges 6 pct on CBI probe talk
Tue, Apr 03, 2018
ICICI Bank Board met on Monday to take stock of various cases at National Company Law Tribunal (NCLT) involving the lender.
This is what will sway Sensex and Nifty over the week
Mon, Apr 02, 2018
An important event to watch out for is the monsoon. Experts said till we do not have a normal monsoon, Indian markets could remain volatile with a downward bias. Post monsoon, there could be some recovery if the government is able to pay farmers liberally and alleviate some of the farm distress seen in the rural side.