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Appellate tribunal NCLAT has rejected a plea against Voltas, which sought to initiate insolvency proceedings against the Tata Group firm by one of its operational creditors. A two-member NCLAT bench has upheld the earlier orders of the Mumbai-bench of the National Company Law Tribunal (NCLT), which had on May 27, 2025 rejected the petition on the grounds of a pre-existing dispute. NCLAT upheld the findings of NCLT, saying it "has committed no mistake" in finding that the email chain between appellant Air Wave Technocrafts and Voltas "reflects ongoing disputes" regarding work certification, amounts, and supporting documentation. "We see no reason to take a different view in the matter from that of the Adjudicating Authority (NCLT) in rejecting the Section 9 application on valid grounds of pre-existing disputes. In result, we find no merit in the Appeal. We find no reasons to interfere with the impugned order. The Appeal is dismissed," said NCLAT. NCLAT order came over a petition fil
Insolvency appellate tribunal NCLAT has set aside NCLT orders, which had declared promoters of JC World Hospitality ineligible to submit their resolution plan under Section 29A of the IBC. NCLAT said the NCLT "in a callous manner without looking into materials on record" have come to the conclusion that the promoters are disqualified, which is perverse and unsustainable. A two-member bench of the National Company Law Appellate Tribunal (NCLAT) has revived the application filed by RP of JC World Hospitality before the Delhi bench of NCLT seeking approval for bids submitted by promoters and take a decision within three months. The application "filed by the RP for approval of the Resolution Plan of the SRA (promoters) is revived before the adjudicating authority (NCLT) for passing an appropriate order in the plan approval application." It further said, "The plan approval application has been pending for about four years. We are of the view that the adjudicating authority shall endeavo
The appellate tribunal NCLAT has set aside an appeal filed by Reliance Realty, a step-down entity of debt-ridden Reliance Communications, seeking recovery of rental and assets from Independent TV, a firm which was in the DTH business and is now facing liquidation. The National Company Law Appellate Tribunal (NCLAT) has upheld the earlier order passed by the Mumbai bench of NCLT, which had declined Reliance Realty's plea and said the liquidation process of Independent TV (formally known as Reliance Big TV) has to be completed in a time-bound manner and in the shortest possible time. A two-member bench said the liquidation process should not be "disrupted and derailed by the Appellant (Reliance Realty) who for no cogent reasons had never agitated the issue of ownership of assets lying in the leased premises". "We do not find any infirmity in the impugned order allowing the Liquidator to remove all moveable assets of the Corporate Debtor lying at the leased premises and in restraining
Appellate tribunal NCLAT on Tuesday set aside a section of a Competition Commission of India (CCI) order that had banned WhatsApp from sharing data with Meta Platforms for advertising purposes for five years. Modifying the order passed by the CCI on November 18, 2024, the NCLAT set aside section 247.1 of the 158-page-long order. However, the tribunal retained the Rs 213 crore penalty on the company and the rest of the order. "We are setting aside the findings of the Commission insofar as it holds breach of Section 4 (2)(D) and setting aside the directions in paragraph 247.1, (which stated) WhatsApp will not share user data collected on its platform with other data companies or advertising purposes for a period of five years from the date of receipt of this order," said NCLAT bench while pronouncing its order orally in the open court. "In respect of such sharing of data for advertising purposes, the rest of the impugned order is upheld. The order dated 18 November 2024 is modified ..
Appellate tribunal NCLAT has said the fair trade regulator Competition Commission of India has no power to examine into the disputes related to patent matters. Dismissing an appeal against a CCI order, in which the regulator had closed a complaint against Swiss pharma major Vifor International (AG), a two-member NCLAT bench said the 'Patent Act will prevail over the Competition Act'. Citing the earlier judgments, NCLAT said: "Considering the judgment of the Delhi High Court in the case of Telefonaktiebolaget LM Ericsson (PUBL) and the Supreme Court in the SLP No. 25026/2023, it is apparent that the CCI lacks the power to examine the allegations made against Vifor International (AG)." NCLAT, which is an appellate authority over the orders passed by CCI, said Vifor International had the patent for Ferric Carboxymaltose (FCM) injection, which is required for the treatment of Iron Deficiency Anaemia (IDA). "The Patent Act will prevail over the Competition Act in the facts of this case,
Insolvency appellate tribunal NCLAT has asked Hinduja group firm IndusInd International Holdings Ltd (IIHL) to submit a timeframe by which it will discontinue using Reliance trademark for the financial service firm Reliance Capital. The counsel appearing for IIHL submitted before NCLAT that the process of name change after the acquisition of Reliance Capital has already started, and is likely to be completed in eight weeks. The National Company Law Appellate Tribunal (NCLAT) was hearing an appeal filed by Anil Dhirubhai Ambani Ventures Pvt Ltd (ADAVL), which has sought a stay over the use of the trademark Reliance after the takeover of Reliance Capital, through the insolvency resolution process. Noting IIHL's submission, a two-member National Company Law Appellate Tribunal (NCLAT) bench recorded in its order, "It is emphasised by Sr Counsel for the Respondent (IIHL) that the process of changing the brand name of the appellant with a new brand name, which is intended to be acquired b
Appellate Tribunal NCLAT has set aside an appeal by Future Consumer Ltd (FCL) seeking to initiate insolvency against Aussee Oats Ltd. A two-member NCLAT bench has upheld the orders of the Mumbai bench of the National Company Law Tribunal (NCLT), which had rejected the claims of FCL, part of the debt-ridden Future Group. FCL had claimed an amount of over Rs one crore due from Aussee Oats. It had given Rs two crore to Aussee Oats in the form of an Inter-Corporate Deposit. According to FCL, out of the total deposit, only Rs 1.35 crore has been paid, and the rest Rs 65 lakh is due, which now, along with interest, totals over Rs one crore. However, NCLT observed that the financial statement of the corporate debtor (Aussee Oats) reflected a 'set off' of the claims, and there was NIL amount payable to the Financial Creditor (FCL). Moreover, it also observed a dispute between them. This order was challenged by FCL before the National Company Law Appellate Tribunal (NCLAT), which also rej
In a relief to the Reliance Industries arm Reliance Retail, appellate tribunal NCLAT has set aside a petition against the leading retailer, which in 2023 reduced the equity share capital of the company, saying non-promoters were offered a "fair value" of their shares. Reliance Retail had in 2023 decided to reduce and cancel 78,65,423 equity shares of the company, held by the minority shareholders, other than the promoters/holding company. Observing that non-promoter shareholders were offered a "fair value" of their shares during the exercise and an overwhelming majority voted in favour of the resolution, the appellate tribunal upheld the earlier order passed by the National Company Law Tribunal (NCLT) and said it found "no reason to upset a reasoned order passed" by it. The NCLAT, while referring to previous judgements, said "selective reduction is permissible if objecting shareholders are paid a fair value of their shares". On July 4, 2023, the board of Reliance Retail Ltd (RRL),
The appellate tribunal NCLAT has completed hearing and reserved its order on the appeals filed by Meta Platforms and WhatsApp, challenging the CCI's penalty on the social media major for the 2021 WhatsApp privacy policy update. An NCLAT bench, comprising Chairperson Justice Ashok Bhushan and Member (Technical) Arun Baroka, has directed the parties to file written submissions by October 6. "All the parties to file concise notes of submissions of not more than ten pages by October 6, 2025," said the bench on Thursday, while reserving its judgment. The National Company Law Appellate Tribunal (NCLAT) was hearing the petition by the tech giant Meta, which challenged a penalty of Rs 213.14 crore on the social media major for unfair business practices with respect to the WhatsApp privacy policy update done in 2021. Senior Counsel Arun Kathpalia and Amit Sibbal have completed their submissions in the rejoinder over arguments by the Senior Advocate Balbir Singh appearing for the Competition