Page 23 - Nclat

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

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

5 years of IBC: Loans taken for telecom, oil assets sank Videocon

VIL's problems began after it entered the telecommunications (telecom) business and its second generation (2G)-based telecom licences were cancelled by the Supreme Court (SC) in 2012

NCLAT upholds CCI order, asks Amazon to pay Rs 200 cr penalty in 45 days

The National Company Law Appellate Tribunal rejected Amazon's plea challenging the decision of CCI to suspend the approval for the e-commerce major's deal with Future Coupons

NCLAT begins insolvency proceedings in just one project of Supertech

NCLAT on April 12 stayed the formation of CoC as the promoters have sought some time to settle the matter with their financial creditor

NCLAT stays insolvency proceedings against RHC Holding initiated by NCLT

The National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against RHC Holding, an entity promoted by former promoters of erstwhile Ranbaxy and Fortis Healthcare

NCLAT allows withdrawal of insolvency proceedings against Kanoria Sugar

The NCLAT has permitted withdrawal of corporate insolvency resolution process (CIRP) against Kanoria Sugar and General Manufacturing Company.

Appellate authority can't sit in appeal over 'commercial wisdom' of CoC: SC

The top court observed that interference would be warranted only when the National Company Law Tribunal or the National Company Law Appellate Tribunal finds the decision of CoC to be wholly capricious

NCLAT directs new board of IL&FS to pay lenders on a pro-rata basis

The interim distribution will be for Rs 16,361 crore -- Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units

IBC regime: NCLAT directs MCA, IBBI to amend statutory claims rule

The directive comes after observing gaps in the current IBC regime that deals with statutory claims

Implementation of Jet resolution plan subject to outcome of order: NCLAT

Insolvency appellate tribunal NCLAT said the implementation of Jalan-Kalrock consortium resolution plan for Jet Airways would be subject to the outcome of its order over the appeals filed before it.

Non-payment of TDS not a ground for initiation of insolvency process: NCLAT

The National Company Law Appellate Tribunal (NCLAT) has held that dues on account of non-payment of TDS can not be a ground to initiate insolvency proceedings against any company. Setting aside an order of the Kolkata bench of NCLT, the appellate tribunal said "the process of Insolvency & Bankruptcy Code (IBC) cannot be utilised" for recovery of TDS dues by an operational creditor of the company. "The consequences of non-payment of TDS are provided under Income Tax Act, 1961, and income tax authorities have ample powers to take appropriate action," said the NCLAT bench headed by Chairperson Justice Ashok Bhushan. The bench said the National Company Law Tribunal (NCLT) has committed a "serious error" while directing to initiate insolvency proceedings over a section 9 application filed by an operational creditor under the IBC after admitting that non-payment of the TDS (Tax Deducted at Source) amounts as default "Regarding non-payment of TDS, we are of the view that it is not for us

NCLAT dismisses Hinduja Leyland Finance plea for insolvency proceedings

The NCLAT has dismissed the plea of Hinduja Leyland Finance to initiate insolvency proceedings against its creditor Fly Express Logistics

Bank settlement proposal in NCLAT: Supertech management tells SC

The erstwhile management of realty firm Supertech on Wednesday informed the Supreme Court that it has submitted a settlement proposal with Union Bank of India

Mere act of invoking pledged shares does not discharge debt, rules SC

Top court says debt is not discharged till there has been an actual sale of the pledged items

Petition for insolvency gets time-barred if filed after 3 years: NCLAT

A former managing director of a Dutch company had moved tribunal seeking payment of salary arrears from its Indian arm.

Lenders can invoke personal guarantees in IBC cases, says Supreme Court

IBC provision requires initiation of CIRP to proceed against personal guarantors

NCLAT asks Jet Airways to vacate office from Mack Star Marketing's premises

Bogged down by financial woes, Jet Airways shuttered operations in April 2019 and the insolvency resolution process was initiated in June the same year