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NCLT

IDBI Bank's insolvency appeal against ZEEL dismissed by NCLAT

IDBI Bank's insolvency appeal against ZEEL dismissed by NCLA...

Mon, Apr 07, 2025

The National Company Law Appellate Tribunal (NCLAT) has dismissed IDBI Bank’s plea challenging a National Company Law Tribunal (NCLT) order that rejected the private lender’s request for insolvency proceedings against Zee Entertainment Enterprises Ltd (ZEEL).

Jaiprakash Associates must be sold as one unit, says National Company Law Tribunal NCLT

Jaiprakash Associates must be sold as one unit, says National Com...

Tue, Mar 11, 2025

According to NCLT, 'Form G' published by the resolution professional of JAL inviting Expression of Interest (EOI) from prospective buyers "by giving two options at the threshold and the second option by splitting the business operations of JAL into multiple clusters being in violation of the provisions" of Insolvency & Bankruptcy Code (IBC).

NCLAT directs NCLT to decide on BCCI-Byju's settlement within a week

NCLAT directs NCLT to decide on BCCI-Byju's settlement withi...

Sat, Feb 08, 2025

The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) also made clear it has not made any observations on the facts.

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NCLT directs liquidation of Tulip Hotels as it fails to get bidder within prescribed timeline

NCLT directs liquidation of Tulip Hotels as it fails to get bidde...

Sun, Jan 19, 2025

NCLT has directed for the liquidation of debt-ridden Tulip Hotels, as the tribunal failed to receive any bidder during its insolvency resolution process within the prescribed timeline.

Texmaco Rail moves NCLT to restore insolvency plea against Delhi Airport Metro Express

Texmaco Rail moves NCLT to restore insolvency plea against Delhi...

Tue, Dec 10, 2024

Delhi Airport Metro Express Pvt Ltd (DAMEPL) is a special-purpose vehicle in which Anil Ambani's Reliance Infrastructure Ltd owned 95 per cent holding and the remaining 5 per cent was with Spanish train-equipment maker Construcciones Y Auxiliar de Ferrocarriles SA.

PSU Stock: Multibagger stock gained as company signs pact to revive petrochemical plant in Mangalore

PSU Stock: Multibagger stock gained as company signs pact to revi...

Thu, Nov 28, 2024

The collaboration marks a pivotal development in the efforts to bring the PTA plant back into production. The original agreement with INEOS was executed by JBF Petrochemicals (JBF), which could not be realized due to insolvency proceedings.

Finance Minister Nirmala Sitharaman meets heads of PSBs, asks banks to undertake special drive to garner deposits

Finance Minister Nirmala Sitharaman meets heads of PSBs, asks ban...

Mon, Aug 19, 2024

The minister also urged the PSBs to explore collaboration to leverage their respective strengths by sharing best practices in emerging areas and equip themselves to keep pace with changes in the banking sector.

Byju's knocks at NCLAT door against NCLT's insolvency order; seeks urgent hearing

Byju's knocks at NCLAT door against NCLT's insolvency o...

Thu, Jul 18, 2024

Byju's did not comment on the issue.According to sources, Byju's on Thursday moved the appellate tribunal, NCLAT, contesting the recent order of NCLT's Bengaluru bench that had admitted the cricket board's plea to start insolvency proceedings against the parent company Think and Learn, after the edtech firm failed to pay Rs 158.9 crore dues.

NCLT accepts BCCI insolvency plea against Byju's, ed-tech firm to challenge decision

NCLT accepts BCCI insolvency plea against Byju's, ed-tech fi...

Tue, Jul 16, 2024

According to sources close to the development, the company is planning to challenge the NCLT order in the National Company Law Appellate Tribunal (NCLAT).

Air India-Vistara merger news: Singapore Airlines to have 25.1 per cent stake in Air India

Air India-Vistara merger news: Singapore Airlines to have 25.1 pe...

Fri, Jun 07, 2024

Air India-Vistara merger news: In a 31-page order, the Chandigarh bench of the NCLT approved the "composite scheme of arrangement" involving Talace, Air India and Vistara. All are part of the Tata Group.

NCLAT dismisses BHEL's pleas against REC over insolvency of Hiranmaye Energy

NCLAT dismisses BHEL's pleas against REC over insolvency of...

Mon, Mar 04, 2024

The National Company Law Tribunal (NCLT) on January 2, 2024, directed to initiate a Corporate Insolvency Resolution Process (CIRP) against Hiranmaye Energy, admitting the plea filed by REC, formerly known as Rural Electrification Corporation.

IFFCO moves NCLT against Triumph Offshore, Swan Energy

IFFCO moves NCLT against Triumph Offshore, Swan Energy

Sun, Mar 03, 2024

Seeking an injunction against any such proposal, IFFCO, in its petition filed before the Ahmedabad bench of the NCLT, alleged that Triumph Offshore is pre-paying the debt, which may result in dilution of its shareholding in the joint venture firm and is detrimental to its interest.

SFIO moves NCLT to freeze assets of IL&FS Financial auditors

SFIO moves NCLT to freeze assets of IL&FS Financial auditors

Tue, Feb 06, 2024

As per sources SFIO has filed it's petition under section 140(5) of Companies Act. This section of Companies Act deals with removal of auditors. SFIO has alleged that Deloitte and BSR failed to do their duty as auditors. Deloitte was the auditor of IL&FS Financial for financial year 2015-16 and 206-17, BSR and Deloitte were joint auditors for financial year 2017-18 and BSR was full fledged auditor for financial year 2018-19.

SFIO files petition in NCLT for freezing assets of the Auditors in IL&FS Case.

SFIO files petition in NCLT for freezing assets of the Auditors i...

Tue, Feb 06, 2024

SFIO filed an application to seize the assets of the auditors of IL&FS Financial (IFIN). Where has the application been filed and what are the allegations....Brajesh Kumar is telling the whole matter.

NCLT approves demerge of Thermax arms Thermax Cooling Solution, Thermax Instrumentation

NCLT approves demerge of Thermax arms Thermax Cooling Solution, T...

Tue, Dec 26, 2023

According to the petition before the NCLT, the vertical integration of operations for Thermax Instrumentation will result in enhanced coordination and flexibility in operations.

NCLT approves demerger plan of PAIL: Check share swap ratio

NCLT approves demerger plan of PAIL: Check share swap ratio

Wed, Dec 06, 2023

According to the exchange filing, eligible shareholders of Pritika Auto Industries (PAIL) would be awarded 10 shares of Pritika Industries (demerged company) for every 63 shares of PAIL with a face value of Rs 2 each.

BCCI takes edtech firm Byju's to NCLT over sponsorship dues

BCCI takes edtech firm Byju's to NCLT over sponsorship dues

Wed, Nov 29, 2023

A report published in 'The Morning Context' stated, the case, filed in September and registered earlier this month, is related to a dispute around the sponsorship of the Indian cricket team's jerseys.

Possible Merger of NSE IFSC and India INX: Application Expected in NCLT in One Month

Possible Merger of NSE IFSC and India INX: Application Expected i...

Thu, Sep 07, 2023

#BSE-#NSE will be one in IFSC! Merger application of NSE IFSC and India INX possible in NCLT within a month. Brajesh Kumar is telling the whole news

NCLT reserves order on Torrent Investent's plea against lenders holding fresh round of bidding

NCLT reserves order on Torrent Investent's plea against lend...

Wed, Aug 30, 2023

The National Company Law Tribunal (NCLT) on Wednesday reserved its order on Torrent Investment's plea against lenders accepting the resolution plan of Indusind International Holdings (IIHL), the investment arm of the Hinduja Group, to take over Anil Ambani-promoted Reliance Capital.

Go First to return Rs 597 crore to around 15.5 lakh passengers, NCLT issues notice to CoC & IBBI

Go First to return Rs 597 crore to around 15.5 lakh passengers, N...

Mon, Jul 31, 2023

The National Company Law Tribunal (NCLT) on Monday issued notices to the Committee of Creditors of Go First and insolvency regulator IBBI over a plea to refund Rs 597.54 crore to around 15.5 lakh passengers who booked tickets for travel on and after May 3.

NCLT extends deadline for completion of Insolvency of Future Retail to August 17

NCLT extends deadline for completion of Insolvency of Future Reta...

Thu, Jul 20, 2023

The National Company Law Tribunal has extended the deadline for completion of insolvency proceedings of debt-ridden Future Retail Ltd (FRL) to August 17, 2023.

NCLT hits a new high, approves record 180 resolution plans in FY23

NCLT hits a new high, approves record 180 resolution plans in FY2...

Sun, Jun 04, 2023

While, in terms of realisation of the amount for creditors, this is the second-highest after FY19, when the total realisation was Rs 1.11 lakh crore after completing 77 insolvency proceedings, including some big-ticket matters such as Essar Steel and Monnet Ispat.

NCLT admits insolvency plea against Future Supply Chain Solution

NCLT admits insolvency plea against Future Supply Chain Solution

Thu, Jun 01, 2023

"NCLT has pronounced its Order today i.E. January 05, 2023, allowing the admission of the said petition of DHL E-commerce (India) Private Limited on for default of outstanding amount payable to operational creditor," the regulatory filing said. DHL Ecommerce has filed the plea as an operational creditor under the Insolvency & Bankruptcy Code (IBC).

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