Page 8 - National Company Law Tribunal

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

Future Ent to quantify receivables from FRL and submit claims before IRP

The National Company Law Tribunal on Wednesday ordered insolvency resolution proceedings against Future Retail

Defaulting firm's debt includes both principal and interest: NCLAT

Case related to a company that challenged insolvency proceeding against it for delaying payments to borrower

Lenders in talks with ARCs to sell Reliance Naval & Engineering loans

Lenders worried over their Rs 14,000-cr exposure in shipyard

Power to admit insolvency application not binding even when debt owed: SC

The bench said NCLT failed to appreciate the question of time-bound initiation and completion of corporate insolvency resolution process could only arise if companies were bankrupt or insolvent

Insolvency regulator working to bring mediation in insolvency cases

A source privy to IBBI's discussion said mediation might address the issue of courts delaying the insolvency process.

Some gaps in ILC recommendations on resolution process, say experts

Report seen as unclear on who should pursue cases related to avoidable transactions and improper trading under bankruptcy code

Realty firm Supertech plans Rs 300-crore fundraise for ongoing projects

On June 10, the NCLAT ordered starting of insolvency proceedings in only one of the housing projects of realty firm Supertech and not the entire company

Will Amazon be able to overcome challenges to its expansion plans in India?

A tougher global e-commerce environment and repeated policy and regulation problems are raising questions about the company's India expansion plans

Supreme Court adjourns plea challenging tenure of NCLT judges

The Centre on May 25 had told the apex court that a Committee chaired by the Chief Justice of India held a meeting on April 20 in which the question of the tenure of 23 members of NCLT was discussed

Regulations and disclosures

No room for arbitrary distinction between foreign & domestic retailers

NCLT allows insolvency proceedings against National Textiles Corp

The National Company Law Tribunal (NCLT) has ordered to initiate insolvency proceedings against state-run National Textile Corporation (NTC) after admitting a plea by one of its operational creditors claiming default of around Rs 14 lakh. The New Delhi bench of the NCLT has also appointed Amit Talwar as an interim resolution professional (IRP), suspending the board of NTC and has also declared a moratorium against the PSU as per the provisions of the Insolvency & Bankruptcy Code (IBC). A two-member NCLT bench also rejected the claims of NTC and said the dispute it raised over the due amount claimed by its operational creditor is merely a "moonshine dispute and said default has occurred for the payment. This is probably for the first time since the code has come into effect that insolvency proceedings against a central government-owned public sector unit (PSU) has been initiated. NTC is under the jurisdiction of the Ministry of Textile, Government of India. It is engaged in the ...

Jet Airways staff association challenges resolution plan before NCLAT

All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline

SC dismisses plea to review removal of Cyrus Mistry as Tata Sons head

The genesis of the dispute can be traced to the removal of Mistry as executive chairman of Tata Sons in 2016

Centre set to put Pawan Hans sale on hold over winning bidder concerns

This is the second instance where a disinvestment exercise has been put on hold after completion of the process due to allegations against the reputation of the winning bidder

Future Retail MD Rakesh Biyani steps down, Company Secretary resigns

The Future Group flagship firm is facing an insolvency petition by its lenders before the National Company Law Tribunal

Shareholders, creditors approve Jindal Stainless Steel-JSHL merger

Having a total melting capacity of 0.8 million tonne per annum (MTPA), the Hisar-based JSHL is the largest specialty stainless steel producer in India with a diversified value-added product portfolio

Yes Bank files plea for insolvency proceedings against Zee Learn

The company said that Yes Bank Ltd has allegedly claimed that the total amount in default with respect to a financial facility is Rs 468 crore

Future group on brink of collapse, lenders begin work to take firms to NCLT

Banks have already made provisions for loans give to entities like Future Retail and Future Enterprises