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National Company Law Tribunal (NCLT) News
National Company Law Tribunal (NCLT)
SBI weighs NCLT route for recovery of loans from Jet Airways
Sun, Feb 24, 2019
Officials associated with the lenders and key shareholders said the SBI is considering moving the National Company Law Tribunal (NCLT) seeking insolvency proceedings against Jet Airways since it is running out of money for operations.
NIIL Infrastrutures' RP invites bids to complete stuck housing project in Agra, UP
Mon, Jan 07, 2019
In March last year, the National Company Law Tribunal (NCLT) Delhi had admitted the application seeking resolution for NIIL Infrastructures under the Insolvency and Bankruptcy Code
NCLT allows removal of a company auditor on government plea
Sun, Jan 06, 2019
An inspection by the ministry found that all the commonly known attributes of a shell company were existing in the case of Zen Shaving.
IL&FS revival: New board submits future plan to NCLT, seeks asset sales, capital infusion
Thu, Nov 01, 2018
The new Board will work towards the final resolution, in stages and parts over a period of six to nine months, and there is a possibility of some early partial resolutions in a timeframe of the next two to three months. However, the early resolutions would be only after NCLT’s approval.
Distressed asset sales 3% of overall M&A in 2017: Report
Tue, Oct 30, 2018
Total distressed asset merger & acquisitions has totalled USD 14.3 billion, led by deals like Bhsuhan Steel (USD7.4 billion), Reliance Communications (USD 3.7 billion) and Fortis Healthcare (USD 1.2 billion), financial consultancy Kroll said in note Monday.
NCLT Principal bench directs to move Videocon insolvency pleas to one court
Thu, Oct 25, 2018
The principal bench of the National Company Law Tribunal (NCLT) on Wednesday directed to transfer all insolvency petitions related to Videocon group being heard in Mumbai courts to a single court there.
Good news! On IL&FS, Uday Kotak says 'we are making progress'
Thu, Oct 11, 2018
The government has so far maintained it to be a case of mismanagement and misrepresentation of facts. The Serious Fraud and Investigation Office, which is probing the firm and its group companies, is likely to give its report in a month.
Rashtriya Ispat Nigam unit OMDC out of NCLT after settling creditors dues
Fri, Sep 21, 2018
The company has now come out from National Company Law Tribunal (NCLT) even after the initiation of bankruptcy proceedings process under the Insolvency and Bankruptcy Code, making it one of the first such cases allowed through an amendment to the regulations introduced in June this year.
Vodafone Idea to merge Aditya Birla Telecom
Tue, Sep 18, 2018
Indus Towers, on the other hand, is in process of merging with Bharti Airtel's tower subsidiary Bharti Infratel and the deal has given Aditya Birla group option to sell its full shareholding in Indus Towers for cash.
Shivinder Singh vs Malvinder Singh: This is how company was debt trapped
Fri, Sep 07, 2018
In a petition, seen by DNA Money, Shivinder Singh had alleged that Malvinder and Godhwani used Religare Enterprises Ltd (REL), a non-banking financial company, to borrow the money from public and "pushed this company into debt trap".
GTL Infrastructure moves HC against action under Bankruptcy Code
Tue, Sep 04, 2018
According to the petitioner, in February, Edelweiss Asset Reconstruction Company (EARC) jointly with the Bank of Merrill Lynch offered an initial bid of Rs 2,000 crore on a full cash basis against the outstanding dues of all the lenders including Canara Bank and UBI.
Dubai's Emaar Properties to partner with local developers to monetise land bank in India
Sun, Sep 02, 2018
Asked about launching own projects, Gupta said the company has identified some land parcels where company would like to develop projects. "We plan to launch 8 projects in calendar year 2019. One or two out of these 8 may happen even this year but we will not push for it as the focus is currently on execution of existing projects," he said.
Monnet Ispat says NCLT's insolvency resolution plan completed
Fri, Aug 31, 2018
Bankrupt Monnet Ispat & Energy today said the insolvency resolution plan approved by NCLT has been completed under which JSW Steel has provided a working capital advance of Rs 125 crore. The bankrupt Monnet owes over Rs 11,000 crore to a clutch of lenders.
Substantial debt may impact company's ability to raise finance: Tata Steel
Tue, Aug 28, 2018
On the financial risks facing Tata Steel, it said, fluctuation in foreign exchange rates due to volatility in financial markets is likely to impact the company's debt servicing and create uncertainties in accessing the financial markets.
Bankers see no material impact on their provisioning as Reserve Bank of India Deadline ends
Tue, Aug 28, 2018
"The August 27 deadline does not have any material impact on the provisioning requirements as most of them have already been classified as bad loans," Rajnish Kumar told reporters on the sidelines of the annual general meeting of the Indian Banks Association this evening.
National Company Law Tribunal orders liquidation of Lanco Infratech
Tue, Aug 28, 2018
The Reserve Bank had last June directed IDBI Bank, lead lender of Lanco Infratech, to initiate insolvency proceedings for the company under the Insolvency and Bankruptcy Code (IBC).
NCLT recruitment 2018: National Company Law Tribunal is hiring! Check details
Sun, Aug 26, 2018
The new vacancies are in place of the earlier ones.
Ruchi Soya up 5 pc as lenders approve Adani Wilmar's Rs 6,000-cr bid
Fri, Aug 24, 2018
Adani Wilmar and Baba Ramdev's Patanjali group have been engaged in a long-drawn battle to take over Ruchi Soya.
Working on Samadhan scheme for stressed accounts: Dina Bandhu Mohapatra, MD & CEO, Bank of India
Tue, Aug 21, 2018
In an exclusive interview with Zee Business, Dina Bandhu Mohapatra, Managing Director & CEO, Bank of India, said the bank is trying its best to come out from the PCA list and is focusing on a trigger point to move ahead.
Implementation gap may hit Insolvency and Bankruptcy Code
Tue, Feb 20, 2018
A comprehensive bankruptcy code alone can address the issue of non-performing assets, taking into consideration international practices