Page 16 - Nclat

TMS Ep402: NCLAT relief to Google, T20 WPL, markets, Trump indictment

How will NCLAT relief to Google affect you? What next for the Women's Premier League? Which factors will guide markets in FY24? Why has Donald Trump been indicted? All answers here

NCLAT order in Android matter will resonate globally on abuse of dominance

Appellate tribunal NCLAT's ruling in the Google matter will open the market for "free innovation" and will resonate as part of the global theme on abuse of dominance, Additional Solicitor General N Venkataraman has said. Venkataraman, who led the legal battle on behalf of the Competition Commission of India (CCI) against Google in the Android matter, also asserted that the six directions of the regulator that were upheld by the NCLAT cover almost 99 per cent of the remedies recommended to address the unfair business ways. "When abuse of dominance goes, it allows for free and fair market play for scientific development and innovation. There is more choice for startups, OEMs (Original Equipment Manufacturers) and consumers. The status quo bias will go. "The National Company Law Appellate Tribunal (NCLAT) order has set the foundation for the twin vision of Make In India and startup growth," Venkataraman told PTI in an interview here. Ruling on Google's appeal against the CCI's order i

'India's legal framework should be ready for eco development challenges'

National Company Law Appellate Tribunal Chairman Ashok Bhushan on Saturday said the country's legal framework must be robust enough to handle the challenges that come with economic development. The Insolvency and Bankruptcy Code, 2016 (IBC) unveiled by the Centre is a significant step in that direction, Bhushan said at the inauguration of the renovated court premises of NCLAT Chennai Bench by Union Finance Minister Nirmala Sitharaman here. The IBC is a comprehensive legislation that seeks to address the issue of insolvency and bankruptcy holistically. It is aimed at protecting all the stakeholders and also seeks to promote entrepreneurship by providing a more streamlined and efficient process for resolving insolvency, he said. "Former Union Minister of Finance the late Arun Jaitley pioneered the enactment of Insolvency and Bankruptcy Code in 2016. India's economy is the fastest growing in the world and as it grows it must ensure that its legal framework is robust enough to handle th

Adani Ports and SEZ Ltd completes acquisition of Karaikkal Port

The National Company Law Tribunal approved the plan for the Adani Group subsidiary to pay 14.85 billion rupees ($181 million) to financial creditors, the company said in a statement Saturday

NCLAT's 'effects analysis' order on Google may hinder other big tech probes

Present competition law does not provide for effects analysis. Conducting one would mean letting anti-competitive practices continue and taking action once adverse effects have already been created

Weekend Bites: Google, Sebi, fraud accounts, and a new Space Odyssey

In which we munch over the week's platter of news and views

Indian start-ups see apex tribunal's order against Google as a win

But fees charged by Google for app purchases remain a concern

NCLAT drops Jindal Stainless plea over Mittal Corp, asks to approach NCLT

Insolvency appellate tribunal NCLAT has dismissed the plea of Jindal Stainless Ltd, one of the bidders for debt-ridden Mittal Corp, challenging the issuance of a fresh Request for Resolution Plan (RFRP) by the lenders. A two-member NCLAT bench observed the lenders of Mittal Corp were "empowered to issue fresh RFRP" when none of the resolution plans had been approved by the committee of creditors (CoC). The lenders have already approved the bids of rival Shyam Sel and Power Ltd (SSPL) and an application has already been moved by the Resolution Professional (RP) before the Mumbai bench of the National Company Law Tribunal (NCLT) seeking its approval. NCLAT said issues raised by Jindal Stainless subsequent to February 10, 2023, when RFRP was issued, need no consideration. The tribunal further added it is open for Jindal Stainless to file an objection over the application filed by the RP before NCLT for approval of SSPL bid. The appellate tribunal said that its previous order of Janua

Google gets relief on four key CCI directives, but Rs 1,338-cr fine stays

NCLAT upholds competition watchdog's observation that Google misused dominant position in Android ecosystem

ZEEL, IndusInd Bank settle dispute paving way for Sony-Zee merger

On February 22, the Mumbai bench of the NCLT had admitted the bank's insolvency plea against ZEEL

NCLAT upholds Competition Commission's Rs 1,337 crore penalty on Google

The NCLAT bench comprising chairperson Justice Ashok Bhushan and member Alok Srivastava said that the CCI investigation was not in violation of the principles of natural justice

NCLAT to pronounce verdict in Google Android case on Wednesday

After the apex court refused to grant interim relief to Google on January 19, the matter was sent back to NCLAT for the final order by March 31

NCLAT concludes hearing, reserves judgement over Google's plea against CCI

The NCLAT on Monday concluded its hearing over the petition filed by Google, in which the tech giant challenged the Competition Commission's order imposing a Rs 1,337.76 crore penalty for anti-competitive practices in relation to Android mobile devices. A two-member bench of the National Company Law Appellate Tribunal (NCLAT) was conducting the hearing on a day-to-day basis for over a month. "Heard Learned Counsel for the parties. Hearing is completed. Judgment Reserved," said the NCLAT bench comprising Chairperson Justice Ashok Bhushan and Member Alok Srivastava. On October 20 last year, the Competition Commission of India (CCI) slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices. The regulator had also ordered the internet major to cease and desist from various unfair business practices. This ruling was challenged before the National Company Law Appellate Tribunal (NCLAT), which is an appellate authority over the .

SC refuses to stay NCLAT's order on second round of RCap auction

COC to meet today, second auction likely to be held on March 29, say lawyers privy to the matter

Zee Entertainment calls report of $10 million repayment 'speculative'

In a report on Thursday, Bloomberg said that the media company has agreed to repay its dues to the IndusInd Bank to resolve insolvency proceedings against it

Google's 'castle and moat' strategy is data hegemony: CCI tells NCLAT

Fair trade regulator CCI on Thursday alleged that Google has created a digital data hegemony and called for a market space with "free, fair and open competition". Concluding the arguments of the Competition Commission of India (CCI) before the appellate tribunal NCLAT in the Google matter, Additional Solicitor General N Venkataraman said a market with greater freedom for all players would be in total sync with principles of free competition rather than the 'walled garden' approach of the internet major. On October 20 last year, the CCI slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices. The regulator had also ordered the internet major to cease and desist from various unfair business practices. This ruling has been challenged before the National Company Law Appellate Tribunal (NCLAT). On Thursday, Venkataraman submitted that Google had used its money-spinning search engine as the 'castle' and the rest of the other a

Google is not just dominant but 'super dominant', CCI tells NCLAT

Argues that competition law puts onus on Google not to abuse its dominant position and not allow its conduct to impair genuine undistorted competition

JAL approaches NCLAT against NCLT order on Jaypee Infratech matter

Jaiprakash Associates has approached the insolvency appellate tribunal NCLAT against the NCLT order relating to the distribution of Rs 750 crore in the Jaypee Infrastructure matter. The amount was deposited with the Supreme Court registry by Jaiprakash Associates Ltd (JAL), the erstwhile promoter of Jaypee Infratech Ltd (JIL), which is going through insolvency proceedings since August 2017. JAL had challenged the NCLT order over the distribution of money, sources said. As per the NCLAT cause list, the matter between JAL and JIL is scheduled for hearing on Tuesday before a two-member bench of the National Company Law Appellate Tribunal (NCLAT). In an order on March 7, the National Company Law Tribunal (NCLT) approved the Mumbai-based Suraksha group's bid to buy Jaypee Infratech Ltd (JIL), a development that comes as a relief for more than 20,000 homebuyers nearly six years after the debt-ridden company entered into the insolvency process. In its 491-page order, the NCLT had directe

NCLAT set aside Nike India's plea to initiate insolvency against its dealer

The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed a petition filed by Nike India to initiate insolvency proceedings against one of its dealers. A two-member NCLAT bench upheld the orders of the National Company Law Tribunal (NCLT), which on December 22, 2022, rejected the footwear and apparel maker's plea to initiate the insolvency proceedings against its distributor on the ground of pre-existing dispute. The appellate tribunal further said it was "not satisfied with the submission of the Appellant (Nike India) that dispute is a moonshine dispute." However, the NCLAT said Nike India is free to take recourse to the mechanism as provided in the Distributorship Agreement for realisation of its dues. Nike India, an operational creditor had issued a notice under section 8 of the Insolvency & Bankruptcy Code (IBC) claiming an amount of Rs 3.15 crore. In its reply, Nike India's claim was disputed by Enkay Brand Distribution. On this, Nike India said it was a ...

IBC provisions cannot be turned into debt recovery proceeding: NCLAT

The National Company Law Appellate Tribunal on Monday said the provisions of the Insolvency & Bankruptcy Code (IBC) cannot be turned into a debt recovery proceeding as the idea of this special code is to bring a debtor company back on its feet. Setting aside an order of the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against Coppertun Brewing, the appellate tribunal observed it "clearly fell in error" in admitting the plea "while turning a blind eye" on the evidence of pre-existing disputes between parties. When an operational creditor seeks to initiate an insolvency process against a Corporate Debtor, it can only be done in clear cases where no real dispute exists between the two, said the National Company Law Appellate Tribunal (NCLAT) bench, comprising Chairperson Justice Ashok Bhushan and Member Barun Mitra. "What also heavily weighs on our mind is that both in terms of the objectives of the IBC and settled proposition of law as expressed and ...