Page 7 - National Company Law Tribunal

Govt appoints 15 judicial, technical members at Company Law Tribunal

The government has appointed a total of 15 judicial and technical members at the National Company Law Tribunal (NCLT), which is grappling with a shortage of judges. The NCLT adjudicates matters related to the Insolvency and Bankruptcy Code (IBC) and companies law. As many as 9 judicial members and 6 technical members have been appointed to the NCLT, according to an official order. These members have been appointed for a period of five years from the date of taking charge or till they attain the age of 65 years, whichever is earlier. Former Madras High Court Judge Justice (Retd) T Krishna Valli, former Allahabad High Court Judge Justice (Retd) Vikas Kunvar Srivastav, Senior Government Advocate at the Department of Legal Affairs Mahendra Khandelwal, CAT Judicial Member Bidisha Banerjee, advocates Praveen Gupta and Ashok Kumar Bhardwaj are among the judicial members. Others are Retd District Judge - Punjab Kuldip Kumar Kareer, Retd District Judge - Gautam Budh Nagar Vishesh Sharma an

PNB to transfer bad loans worth Rs 20,008 cr from 62 accounts to NARCL

NARCL has been set up by commercial banks to aggregate and consolidate stressed assets for their subsequent resolution

Deadlock over carrier's revival: Banks not keen on sharing Jet's liability

Deadlock over carrier's revival after NCLAT order

Economy positive, demand all across: Shriram Transport Finance V-C & MD

Good demand for used vehicles in rural market, says Umesh Revankar in interview

NCLT extends Reliance Capital debt resolution deadline to January

This is the third deadline extension as the lenders seek better offers from the bidders

NCLT extends Reliance Capital resolution process deadline to Jan 31

The National Company Law Tribunal (NCLT) has for the third time extended the deadline for debt-ridden Reliance Capital's resolution process to January 31. The earlier deadline was November 1, 2022. This is the third extension as the timeline has been extended twice in the past, sources said. As per the Insolvency and Bankruptcy Code (IBC) rules, the administrator had to originally close the resolution of RCL within 180 days, by June 3, 2022. Earlier, the lenders of Reliance Capital had given an extension of 30 days to the bidders for submission of binding bids, along with an EMD of Rs 75 crore, by October 31. The bidders were not happy with this 30 days extension as most of them had sought an extension by 2-4 months. Reliance Capital had received 14 non-binding bids for its multiple businesses. Six companies had submitted bids for the entire company, while the rest of the bidders had submitted bids for its multiple subsidiaries. Two options are available for the bidders. The fir

Dalmia, Sagar Cements in race to buy debt-ridden Andhra Cements

Jaypee-owned firm undergoing bankruptcy process

99.99% of Zee Entertainment shareholders vote for merger with Sony

Attention will likely shift back to the Competition Commission, which had granted conditional approval to the proposed deal last week

Singapore Airlines confirms Vistara-Air India merger discussions

SIA, however, has cautioned its investors that there is no certainty of a deal

Shriram Group waits for NCLT approval of merger, ready for integration

Group conducting trial run at branches, preparing super app for merged entity called Shriram Finance

Anil Agarwal-led Vedanta group gets shareholder nod to rejig capital

The development acquires significance since Vedanta's holding company, Vedanta Resources, will receive nearly 70 per cent of the dividend to be distributed

Adani Ports receives NCLT approval to acquire 58.1% in Gangavaram Port

Deal to be a share swap, with issuance of 47.7 million APSEZ shares to the erstwhile GPL promoters; post-transaction, GPL will become a fully-owned subsidiary of APSEZ

EPFO looks to hire law firms to provide legal opinion, associated services

The approved law firms will be empanelled with the EPFO headquarters in New Delhi for an initial period of one year, which can be extended to three years

SBI files 'insolvency petition' against Jaiprakash Associates in NCLT

JAL is involved in cement manufacturing, engineering and construction, expressways, real estate, hospitalities, wind/thermal power plants at various locations all over India.

Ahead of IDBI privatisation, Centre working on tightening disclosure rules

Bidders will have to share the details of legal proceedings against them, if any, until the completion of sale transactions

PVR shareholders to mull Inox merger on Oct 11, creditors' meet same day

Investors' meet over videoconference comes after Mumbai NCLT's directive to PVR; both Inox Leisure and PVR had said this June that they had received clearances for their merger NSE and BSE

After lay-offs, edtech startup Lido Learning files for insolvency

Lido Learning's board of directors has passed a special resolution to file an application under section 10 of IBC, 2016

Bad loan recovery process can get worse

Apart from creating a distinction between financial creditors and operational creditors, the latest Supreme Court judgment also leads to the creation of a new category of default - temporary default

Lenders agree to RNTL-Reliance Industries' takeover deal: Report

Two years after the deal was approved by the NCLT, banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to Mukesh Ambani-owned Reliance Industries

Top Headlines: Common charger for all mobiles; banks rush to woo depositors

At a time when growth in bank credit is outstripping that of deposits, several lenders, including the country's largest bank, State Bank of India (SBI), have raised deposit rates ahead of the festival