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NCLAT upholds NCLT order to initiate insolvency proceedings against Meenakshi Energy
Fri, Sep 11, 2020
In addition to this, the petitioners had also contended that SBI had moved its insolvency plea before the NCLT following a RBI Circular of February 12, 2018, and the Supreme Court had struck it down declaring the circular as ultra vires.
Coronavirus scare: NCLAT adjourns all hearings in March as precautionary steps
Mon, Mar 16, 2020
Taking precautionary measures amid coronavirus outbreak, the National Company Law Appellate Tribunal (NCLAT) has adjourned all its scheduled hearings in March
McDonald's selects Sanjeev Agrawal as new partner for north, east India markets
Mon, Feb 03, 2020
"Agrawal has a strong understanding and passion for the McDonald's brand, insights into the local market, and a proven track record of driving quality and innovation in the food and beverage and hospitality industries," said McDonald's Asia Director Corporate Relations Barry Sum.
NCLAT to clarify Tata-Mistry order had no aspersions on RoC
Fri, Jan 03, 2020
On Thursday, The NCLAT had asked the Registrar of Companies (RoC) to explain the rationale behind allowing Tata Sons to convert into a private company and also sought details of the process for the permission.
Tata Sons moves SC against NCLAT order to re-appoint Cyrus Mistry as Chairman
Thu, Jan 02, 2020
Tata Sons on January 2 moved the Supreme Court of India against the National Company Law Appellate Tribunal (NCLAT) order that directs reinstatement of Cyrus Mistry as Executive Chairman. #ZeeBusiness #Tata #TataSons #NCLAT #CyrusMistry
Ministry of Corporate Affairs may challenge part of NCLAT decision in Tata-Cyrus Mistry Case: Sources
Thu, Dec 19, 2019
NCLAT in its order had noted that "The conversion of the company from 'Public Company' to 'Private Company' as by the RoC is against the provisions of Section 14 of the Companies Act, 2013 and 'prejudicial’ and ‘oppressive’ to the minority members and depositors etc. and declared conversion of the ‘Tata Sons Limited’ from ‘Public Company’ to 'Private Company’ by Registrar of Companies, as illegal.'
Cyrus Mistry family allowed to sell Tata Sons stake as per choice by NCLAT
Thu, Dec 19, 2019
The company had in 2017 decided to convert into a private company whereby the shareholders would not be able to trade their shares, which was vehemently opposed by Cyrus Mistry and his family who have over 18 per cent stake in Tata Sons.
Cyrus Mistry: Stand vindicated, want robust governance framework
Wed, Dec 18, 2019
"The outcome of the appeal is a vindication of my stand taken when the then Board of Tata Sons, without warning or reason removed me, first as the Executive Chairman, and subsequently as a Director of Tata Sons."
ArcelorMittal-Essar Steel: Why SC NCLAT ruling is a major success of insolvency mechanism in India - Explained
Fri, Nov 15, 2019
As the Supreme Court on Friday set aside the NCLAT ruling on Essar Steel that provided for equal distribution of proceeds between financial and operational creditors, decks have been cleared for ArcelorMittal's acquisition of the bankrupt steel company.
Essar Steel Insolvency: SC quashes NCLAT ruling, clears ArcelorMittal takeover bid; SBI to PNB, bank stocks skyrocket
Fri, Nov 15, 2019
Essar Steel Insolvency: The Supreme Court has set aside the National Company Law Appellate Tribunal (NCLAT) judgement on Essar Steel case on November 15th.
NCLAT allows promoters to regain control of firms at liquidation stage
Wed, Sep 04, 2019
In the liquidation case pertaining to Sterling Biotech, the NCLAT has set aside a bankruptcy court order to liquidate a debt-ridden company while allowing its promoters to take back control of the firm after making full payment to the lenders.
Ray of hope for home buyers in Jaypee case; NCLAT to hear all parties on NBCC bid on July 17
Tue, Jul 02, 2019
NBCC`s bid to acquire the company was rejected by the lenders, led by IDBI Bank, in the latest round of voting, even though the home buyers were in its favour.
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.
Mission Samadhan has played an important role in reducing net NPA burden: Deenbandhu Mohapatra, Bank of India
Fri, May 17, 2019
Dinabandhu Mohapatra, MD & CEO Of Bank of India, speaks about quarter results and reasons for betterment, provisioning coverage ratio and slippages, NCLT accounts and 'Mission Samadhan' among others during a conversation with Anurag Shah, Zee Business. Excerpts:
Rs 2,500 crore in ArcelorMittal bid for Essar Steel is for working capital: CoC to NCLAT
Thu, May 16, 2019
Lenders of Essar Steel informed NCLAT that out of Rs 42,000-cr coming from the resolution plan of ArcelorMittal, Rs 2,500 crore has been marked as the working capital.
NCLAT allows banks to declare defaulting ILFS accounts as non-performing assets
Thu, May 02, 2019
Presently, Infrastructure Leasing & Financial Services (IL&FS) Group companies, with a collective debt of over Rs 90,000 crore, are going through resolution process.
NCLAT allows insolvency proceedings against Reliance Communication
Tue, Apr 30, 2019
RCom had moved the application to withdraw its challenge to the insolvency order after its board felt insolvency was the best course after failed attempts to revive the firm.
Essar Steel posts EBITDA of Rs 2K cr, may 'utilise funds' towards financial creditors' claims
Mon, Apr 29, 2019
Essar Steel, which is undergoing debt resolution process, has posted EBITDA of around Rs 2,000 crore during the insolvency period and the amount could be utilised by financial creditors against their outstanding dues, one of the operational creditors has claimed.
IL&FS should pay 80% dues of small creditors: NCLAT
Wed, Apr 17, 2019
Emphasising on the repayment of dues to small creditors including provident and pension funds, the National Company Law Appellate Tribunal (NCLAT) on Tuesday observed that IL&FS should distribute funds to small creditors.
NCLAT adjourns IL&FS case hearing to April 29
Tue, Apr 16, 2019
The National Company Law Appellate Tribunal (NCLAT) on Tuesday adjourned to April 29 the hearing on the matter of the debt-ridden Infrastructure Leasing and Financial Services (IL&FS).