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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.
Decriminalisation of minor offences to improve ease of doing biz, say experts
Thu, Jun 11, 2020
The decriminalisation measures need to be viewed from three different perspectives- ease of doing business; relief to beleaguered MSMEs and companies affected by lockdown and COVID-19; and easing the stress on the National Company Law Tribunal (NCLT), said Atul Pandey, Partner, Khaitan & Co.
Aviva Life settles 2-year-old dispute with Apeejay Trust
Thu, Nov 28, 2019
Citing safety of its policyholders and distributors, Aviva Life has settled the Apeejay Trust case in which the latter was asking Rs 27.67 lakh from the Aviva Life.
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.
IL&FS Case: NCLT rejects Deloitte, BSR & Associates arm's no-jurisdiction plea
Fri, Aug 09, 2019
NCLT has today rejected an appeal by the auditors of debt-laden cpmpany (IL&FS), challenging the court’s jurisdiction to ban them for alleged abetment of financial fraud.
Big jolt to IL&FS Financial auditors, NCL rejects application challenging ban decision
Fri, Aug 09, 2019
Audit Firms Deloitte Haskins & Sells and KPMG affiliated BSR & Associate got a jolt from Mumbai NCLT on Friday as it rejected auditors' application challenging jurisdiction to ban them.
Big boost to Baba Ramdev's business empire! NCLT clears Patanjali's Rs 4350 crore bid for Ruchi Soya - 5 points
Fri, Jul 26, 2019
Finally, Baba Ramdev's Patanjali has received the nod of National Company Law Tribunal (NCLT) to acquire Ruchi Soya on a revised Rs 4350 crore bid
Banks give up on Jet Airways revival, take it to NCLT
Tue, Jun 18, 2019
It is finally curtains on attempts by lenders to revive the grounded Jet Airways by finding a buyer for it. On Monday, the State Bank of India-led consortium of lenders decided to send the carrier to the National Company Law Tribunal (NCLT) after failing to receive any concrete proposal from prospective buyers more than two months after the process started.
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).
BoB puts Bhushan Power & Steel, Alok Ind, 65 other accounts worth over Rs 9k cr on block
Mon, Jun 10, 2019
Bank of Baroda has put on sale non-performing loans amounting to Rs 9,060 crore, including two large accounts - Bhushan Power & Steel and Alok Industries.
Tata Chemicals' consumer business to merge with TGBL
Wed, May 15, 2019
Pursuant to the scheme, each shareholder of TCL will get 1.14 new equity shares of TGBL for every 1 equity share held in TCL, signifying that a shareholder holding 100 shares in TCL will receive 114 shares in TGBL.
Jaypee Infratech insolvency: NCLT to hear on May 21 IDBI's plea on deadline extension
Mon, May 06, 2019
Jaypee Infratech insolvency: On January 28 this year, the NCLT had extended the period of the CIRP by another 90 days as 180 days mandated under the Insolvency and Bankruptcy Code (IBC) was ending on February 5, 2019.
RBI asks lender banks to disclose IL&FS exposure in March quarter accounts
Wed, Apr 24, 2019
RBI on Wednesday directed lenders to disclose their exposure to the bankrupt infra lender in their forthcoming earnings announcements.
IBC cases admitted over RBI circular to continue: MS Sahoo
Tue, Apr 16, 2019
Although the Supreme Court has quashed the RBI`s February 12, 2018, order on non-performing assets (NPA), the cases admitted for resolution process based on the order would continue, said the Insolvency and Bankruptcy Board of India (IBBI) on Monday.
Penalty case: Maruti Suzuki, Mahindra to Mercedes, here is what Delhi court has ordered carmakers to do
Wed, Apr 10, 2019
On August 25, 2014, the CCI had slapped a total penalty of Rs 2,545 crore on 14 car manufacturers, including Honda, Volkswagen and FIAT, in India after finding them guilty of violating trade norms in the spare parts and after-services market.
NCLAT seeks details about 4 IL&FS group entities - 'Submit information over investment made by pension, provident funds'
Mon, Apr 08, 2019
The NCLAT had directed 4 out of 13 amber entities to prepare charts, and held that the remaining 9 firms will also try to prepare charts by the next date of hearing, which is April 16.
12,000 cases filed since implementation of insolvency law, setting up of NCLT: Corporate Affairs Secy
Mon, Mar 25, 2019
Cases under the code can be taken up only after approval from the tribunal, which has benches in different parts of the country. Srinivas said that personal insolvency should be approached carefully and in a planned manner.
RBI seeks modification of NCLAT order in ILFS case
Tue, Mar 19, 2019
Further, the tribunal has sought company-wise updates from the Committee of Creditors (CoC) and Resolution Professional (RP).
Centrum to launch Rs 500-cr structured credit fund
Sun, Mar 17, 2019
See, there are around 3,400 companies at NCLTs. Of this only around 400 are resolved or nearing resolution. So what is the hurry? Let the hype settle down and let the assets become more affordable because our present size doesnt allow us to take huge vulnerabilities.