Page 26 - Nclat

NCLT, NCLAT can encourage, not direct settlements under IBC: SC

The bench said that settlements have to be encouraged because the ultimate purpose of the IBC is to facilitate the continuance and rehabilitation of a corporate debtor

DoT moves NCLAT against resolution of Videocon; claims Rs 882-cr dues

The Department of Telecommunication (DoT) has moved the insolvency appellate tribunal NCLAT against the NCLT order approving the consolidated resolution plan for 13 companies of Videocon Group, including Videocon Telecommunications. The DoT, in its petition, has requested the appellate tribunal to set aside the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) on June 8, 2021 allowing the Rs 2,962-crore takeover bid by Anil Agarwal's Twin Star Technologies. DoT has submitted before NCLAT that defaulting telecom companies cannot be permitted to wriggle out of their liability by the triggering of the Corporate Insolvency Resolution Process. A three-member bench of NCLAT said the appellate tribunal has already stayed the NCLT order on July 19, 2021 by granting a "status quo ante" to be maintained and Resolution Professional will continue to manage the affairs of Videocon Industries as per provisions of the Insolvency & Bankruptcy Code. "In view of the ...

United Breweries challenges Rs 752 crore CCI penalty before NCLAT

Beer maker United Breweries Ltd (UBL) has approached the appellate tribunal NCLAT against Rs 751.8 crore penalty imposed on the company by the fair trade regulator CCI.

NCLAT stays Competition Commission's Rs 200 cr penalty on Maruti Suzuki

The amount has to be deposited with the Registrar of the National Company Law Appellate Tribunal (NCLAT)

Former SC judge Justice Ashok Bhushan takes charge as NCLAT Chairperson

Former Supreme Court judge Justice Ashok Bhushan on Monday took over as the chairperson of the National Company Law Appellate Tribunal

NCLAT asks NCLT to give hearing opportunity to two Videocon execs

NCLAT has directed NCLT to go for "fresh determination" and pass a new order after providing opportunity of hearing to two employees of Videocon, whose assets and bank accounts were frozen.

Govt seeks applications for 20 judicial, technical members at NCLT, NCLAT

The last date for submitting applications for the 20 positions at the National Company Law Tribunal as well as the NCLAT is November 12

NCLAT gives more time to Zee to file reply to Invesco's plea for EGM

NCLAT directs NCLT to allow Zee a reasonable and sufficient opportunity to file reply

NCLT committed error by not granting more time to Zee to file reply: NCLAT

NCLT order directing Zee to reply within two days violated principles of natural justice, said NCLAT

Invesco case: NCLT adjourns hearing; NCLAT to issue order on Zee plea soon

NCLT adjourned the hearing on Invesco's petition seeking convening of shareholders' meet by Zee Entertainment Enterprises, saying it will wait for the appellate tribunal's order related to the matter.

Zee-Invesco feud: NCLAT concludes hearing, to pass order later in the day

NCLAT completed the hearing on a petition filed by Zee Entertainment Enterprises Ltd seeking more time to reply to Invesco's demand for convening a shareholders' meeting.

ZEEL moves NCLAT for more time to file reply to Invesco's plea

The company is also calling for a stay on the proceedings in NCLT till the matter is decided in the appellate tribunal

Insolvency professionals back success fee, warn against over-regulation

The NCLAT held that success fee is more in the nature of contingency and speculative it is not part of IBC provisions and is not chargeable

Videocon insolvency: Lenders make U-turn, approach NCLAT for fresh bids

Billionaire Anil Agarwal's Twin-Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries, which was 4.15% of the admitted claims of Rs 64,838.63 cr of lenders

Centre concedes in SC, lets acting NCLAT chairperson continue till Sep 20

Justice Cheema was to superannuate on September 20, but Justice M Venugopal was appointed as the acting head of the tribunal.

Resolution plan submitted before NCLT can't be modified or withdrawn: SC

The Supreme Court on Monday held that CoC approved resolution plan submitted to the National Company Law Tribunal (NCLT) cannot be modified or withdrawn as it would create another tier of negotiations

Siliguri-based hotelier moves SC against Oyo for unfair practices

In July, the NCLAT closed insolvency proceedings against Oyo and one of its subsidiaries, and also disallowed the intervention of external parties

NCLAT admits Dhoot's petition against Anil Agarwal's Twin Star takeover bid

The appellate tribunal has issued notices to the resolution professional, lenders and Twin Star Technologies directing them to file a reply by September 17

NCLAT dismisses Devas Multimedia's plea against its winding up

NCLAT on Wednesday dismissed a petition filed by Devas Multimedia challenging an order of the NCLT to wind up the company

Videocon Industries case: NCLAT adjourns hearing till September 20

NCLAT on Tuesday adjourned till September 20 the hearing on a batch of petitions challenging the approval for the takeover of bankrupt-Videocon Industries by Anil Agarwal's Twin Star Technologies