Page 12 - National Company Law Tribunal

Majority vs minority cliffhanger

The NCLAT judgment has surely dented Mr Tata's reputation as he has been asked to 'desist' from interfering in the affairs of the group

Don't delay decision on reviving Jet Airways, NCLT tells Synergy Group

The South American group had failed to provide a resolution plan before December 16 deadline due to uncertainty on airport slots

Jet lenders to invite fresh bids as parties are willing to revive airline

The CoC will vote on restarting the bid process on Friday and the results will be out on Saturday

NCLAT verdict over Mistry's removal as Tata Group Chairman on Wednesday

The Appellate Tribunal had reserved its order in July this year, after completing its marathon hearing over the issue

Patanjali gets one more week to complete Rs 4,350-cr Ruchi Soya deal

A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya extended the deadline to December 23

Govt moves NCLAT against NCLT order making MCA party in all IBC cases

The appellate tribunal is expected to hear the case on Friday

Recoveries from Odisha Slurry Pipeline under CIRP could be low: Srei fund

IGOF has written to the resolution professional and the committee of creditors, requesting that OSPIL be withdrawn from CIRP

Govt to set up NCLAT bench in Chennai to cut down on backlog: Minister

It has also set up five new benches of NCLT during 2018-2019 at Jaipur, Cuttack, Kochi, Indore and Amaravati, with this aim

Aviva Life settles Apeejay Trust's Rs 27-lakh insolvency case in NCLT

Earlier this month, the NCLT had ordered to initiate insolvency proceedings against Aviva Life Insurance in a case filed by Apeejay Trust

Govt moves NCLT to reopen financial statements of CG Power for FY15-19

The corporate affairs ministry on Monday moved NCLT seeking to reopen and restate the financial statements of CG Power & Industrial Solutions under Section 130 of the Companies Act for financial years 2015 to 2019. Alleging financial irregularities, the CG Power board had on August 30, 2019 in a mid-night drama removed the company promoter Gautam Thapar as the non-executive chairman, a position he had held since July 2006. The National Company Law Tribunal (NCLT) directed the ministry to issue notices to market regulator Sebi, the income tax department and Thapar to file reply within a week and also asked the ministry to file the rejoinder a week later. The tribunal has posted the matter for more hearing to December 16. The company said an investigation instituted by its board had found major governance and financial lapses, including some assets being provided as collateral and the money from the loans siphoned off by "identified company personnel, both current and

RBI to supersede DHFL board, approach NCLT for bankruptcy proceedings

The central bank said it had appointed R Subramaniakumar, ex-MD and CEO of Indian Overseas Bank, the administrator for DHFL

Karnataka HC stays NCLT order against Flipkart for defaulting payment

Flipkart had approached the Karnataka High Court after NCLT initiated insolvency proceedings for defaulting on Rs 18 crore payment to one of its suppliers

Essential goods may soon come under IBC regulations: Details here

Electricity, water, telecommunications, and information technology are currently covered under essential goods

Two years on, debt resolution of first dozen firms still not complete

The combined debt of these 12 large accounts was Rs 3.45 trillion; the amount realised so far is Rs 1.01 trillion. The liquidation value of these 12 large accounts was Rs 73,220 crore

Number of cases admitted under insolvency saw a rise in Sep quarter

The number of insolvency cases admitted by the bankruptcy court continued to stay elevated, with 369 companies alone admitted in the Sept quarter.

Tata MF moves NCLT to recover Rs 120 cr from DHFL, others may go legal too

The next hearing on the matter is expected to be held in the second week of November

Central Bank withdraws insolvency application against Aban Offshore

Both parties say they are settling dispute; NCLT dismisses application, permits lender to approach it later

Overweight positions in banks, industrials helped HDFC: CIO Prashant Jain

Given this background, an outperformance of nearly 9 percentage points over the Nifty 100 benchmark is no small feat

Govt constitutes panel to relook at offences under Companies Act

The committee will submit its recommendations on offences - both compoundable and non-compoundable - which could be recategorised as 'civil wrongs'

McLeod Russel moves NCLT to resume tea estate sale to help it repay dues

Tribunal had stayed the sale after a financial creditor moved Kolkata bench of NCLT to recover dues of Rs 100 cr; McLeod says sale is part of restructuring plan, will help revive company