Page 29 - Nclat

Supreme Court adjourns hearing in Tata Sons-Mistry case to December 8

The Tata group has appealed against a National Company Law Appellate Tribunal (NCLAT) order

Flipkart India revenue grew 12% to Rs 34,610 cr in FY20; losses dropped 18%

The company's total expenses for the year were reported at Rs 37,760 crore. During FY20, the company allotted total equity shares worth Rs 4,455 crore to Flipkart Private Limited Singapore

Explained: How Uttam Galva Steels lost its sheen amid mounting debts

The promoter group's deal-making capabilities have come back to haunt it

Deccan Value Investors want 'win-win' solution for Amtek: Hedge fund's exec

Lenders must fulfill conditions that they signed with the auto parts maker, says Vinit Bodas.

NCLAT suspends court works after some staff members test Covid-19 positive

NCLAT has suspended all its court works, including virtual hearing and filing, after some of its staff tested Covid-19 positive

Successful resolution applicants cannot be allowed to withdraw offer: NCLAT

A three-member NCLAT bench said the sanctity of resolution process has to be maintained and such withdrawal by a successful bidder "frustrate" the entire exercise of CIRP

NCLAT sets aside NCLT order rejecting insolvency plea against Coastal Oil

The NCLAT''s direction came over a petition filed by Bank of India and Central Bank of India, challenging the NCLT order

NCLT to send Samay Electronics case to 3rd member after split verdict

The two-member Ahmedabad bench of the National Company Law Tribunal (NCLT) had delivered the split verdict on February 26, 2020

NCLAT rejects PNB's plea on Mittal Corp, asks NCLT Mumbai to decide afresh

The National Company Law Appellate Tribunal (NCLAT) has set aside an order passed by NCLT rejecting a plea filed by Punjab National Bank to initiate insolvency proceedings against Mittal Corp and directed it to decide afresh "expeditiously". A three-member bench of the appellate tribunal observed that the Mumbai bench of the National Company Law Tribunal (NCLT) had dismissed PNB's plea on the basis of a circular issued by the Reserve Bank of India (RBI) on February 12, 2018, which was not applicable in this matter. "We set aside the Impugned Order dated December 20, 2019 and remit the case to the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, with a direction to decide the Admission of the Application on merits as expeditiously as practicable," the NCLAT order said. The appellate tribunal said there was no evidence suggesting that PNB had moved NCLT to initiate insolvency proceedings based on the said circular, under which it was not eligible to file as the ..

NCLAT upholds NCLT order to initiate insolvency against Meenakshi Energy

A three-member bench has dismissed the plea filed by its director and its shareholder India Power Corporation Ltd observing that the company had committed default

NCLAT rejects plea challenging NCLT's resolution plan of Uttam Value Steel

Uttam Value Steels has an admitted debt of Rs 3,003 crore

IL&FS board faces challenges as resolution takes a Covid-19 knock

With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges

No corporate insolvency proceedings once debt converted into capital: NCLAT

The appellate tribunal also said that any investment cannot be "financial debt"

NCLAT sets aside insolvency proceedings against Sarda Agro Oils

NCLAT set aside the insolvency proceedings initiated against Sarda Agro Oils citing that claims were filed by the lender three years after declaring the account as NPA

Top headlines: Bankruptcy case against Anil Ambani, TCS-Epic Systems case

Business Standard brings to you a snapshot of events that made it to the headlines today

NCLAT sets aside order against former PNB official in Nirav Modi case

NCLAT has set aside an order to implead a former Executive Director of the Punjab National Bank in a matter related to Rs 14,000 crore scam involving diamond merchant Nirav Modi

NCLAT sets aside insolvency proceedings against Ansal Properties and Infra

A three-member NCLAT bench observed that a decree-holder cannot be treated as financial creditor for the purpose of triggering insolvency proceedings against a company

NCLAT rejects plea to start insolvency proceedings against Tata Chemicals

NCLAT observed that the NCLT has rightly dismissed the plea as Allied Silica has failed to prove the operational debt and its default

NCLAT says no to insolvency proceedings against Gujarat Ambuja Exports

Earlier on February 17, 2020, the NCLT had dismissed the plea of Samay Impex to initiate corporate insolvency resolution process (CIRP) against GAEL

NCLAT sets aside NCLT orders approving resolution plan for Ricoh India

The NCLT had also rejected the plea of Kotak Investment Advisors raising objections against the alleged illegalities committed in the conduct of CIRP