NCLT

Tribunal rejects objections by former promoters, rules that insolvency resolution does not bar recovery proceedings and directs SFIO to detail the role of each respondent.

The National Company Law Tribunal (NCLT) invalidated a series of transactions involving JLS Realty Pvt Ltd, including the transfer of a prime redevelopment land parcel in Mumbai to Spenta Suncity and a mortgage and corporate guarantee linked to Rs 525 crore in financing involving IIFL. In an order pronounced on October 23, the Mumbai bench of the tribunal also invalidated the appointment of two IIFL-linked employees as directors, declared the attempted removal of an existing director illegal, reversed disputed share transfers and ordered restoration of the company's land. The Bench, comprising Judicial Member K R Saji Kumar and Technical Member Anil Raj Chellan, held that the sequence of events was "demonstrative of a deliberate design", constituting oppression marked by a "lack of probity and fair dealing". The ruling follows five years of litigation initiated by Moniveda Consultants LLP and Rajat Jhunjhunwala against Shajas Developers, JLS Realty, and other respondents. The dispu

A bench led by Chief Justice of India Surya Kant raised concerns about staff recruitment, vacancies and inadequate infrastructure

The Supreme Court raised concerns over MCA interference in NCLT administration, flagging staff shortages, poor infrastructure and outsourcing of recruitment to private firms

The Supreme Court said its requests to tribunals must be treated as directions and sought an explanation from NCLAT for not hearing an appeal on July 23 despite its earlier order

Lender seeks insolvency proceedings against Mumbai Metro One over alleged ECB default; NCLT flags limitation, Section 10A and other defects in the petition

The tribunal's approval clears a key step in the transaction announced in October 2024, with Dabur looking to expand Sesa Care using its distribution network

The merger will become effective after completion of necessary statutory filings and other conditions stipulated under the scheme

Zee Group founder Subhash Chandra has challenged an NCLT order restraining him from alienating assets in proceedings over his proposed Rs 6.25-crore repayment plan

Experts say an NCLT-approved restructuring may be legally feasible, but it would not by itself override RBI requirements or remove Tata Sons' listing obligation

The Supreme Court asked the Centre to file a status report on amenities at NCLT benches and identify facilities requiring urgent attention in consultation with its president.

The Subhash Chandra episode doesn't show that the Insolvency and Bankruptcy Code (IBC) has failed - but that there's a gap, when it comes to voting, which can be used by any promoter

Rapido has filed an insolvency petition against Magicpin at the NCLT over alleged unpaid operational dues of less than ₹10 crore.

Diamond Power share price: The multibagger stock rose to ₹387 on the National Stock Exchange (NSE), its 5 per cent upper price band and also an all-time high level.

Mutual funds step up equity buying in August as stock exchanges revise pre-open auction timings and an IPO faces legal hurdles

The insolvency tribunal NCLT has ordered a status quo on the assets sold by the resolution professional of Think and Learn Private Limited, the parent entity of debt-ridden edutech firm Byju's, in one of its subsidiaries. The Bengaluru-based bench of the NCLT has put a hold on any further disposal of Byju's K3 Education's assets till the next hearing on September 21 amid allegations that assets worth around Rs 150 crore were sold for just about Rs 16 crore. "The RP of TLPL (Think and Learn Private Limited) and the said newly impleaded Respondent are directed to maintain status quo in respect of the articles/equipment/assets auctioned under notice dated August 2, 2026, issued by the former, till next date," said a two-member bench. The National Company Law Tribunal (NCLT) order came earlier this week over a plea moved by the resolution professional (RP) of Byju's K3 Education, which is also facing insolvency proceedings, and Kritikal Solutions, seeking protection of the assets pendin

Tribunal says EY's fee arrangement and its enforceability require examination beyond Section 9 proceedings; clarifies it made no finding of professional misconduct

Bengaluru Bench directs TLPL's resolution professional and auction buyer Comprint to maintain status quo on disputed assets until the next hearing on September 21

Five-member bench finds no definitive majority in earlier proceedings, stays approval of Chandra's repayment plan and bars him from transferring properties

A five-member special NCLT bench constituted to hear the personal insolvency case of Subhash Chandra on Tuesday issued notices to all the parties and directed the Essel Group Chairman not to alienate his properties, either directly or indirectly. Last week, NCLT approved a repayment plan under which creditors are set to recover about Rs 6.25 crore from Chandra's personal estate against claims of roughly Rs 22,006 crore. Chandra said the Rs 22,006 crore figure had been widely misunderstood because it represented claims arising from personal guarantees he had provided for loans taken by companies associated with the Essel Group, rather than money he had personally borrowed. The five-member bench, led by President Justice Anupinder Singh Grewal, said that since there was no majority view among the members, including the third member, there was no final order and the verdict could not be given effect to. "Let notice be issued to all the parties," the National Company Law Tribunal (NCLT