Page 34 - Nclat
I-T dept to move SC against Reliance Jio's plan to sell stake in tower arm
Mumbai, 24 DecemberReliance Jio Infocomm's plan to reduce debt by selling stake in its telecom tower arm to Canadian investor fund Brookfield isn't free of the income tax (I-T) department hurdle. The latter plans to petition the Supreme Court against the National Company Law Appellate Tribunal (NCLAT) order of December 20 which cleared Jio's proposed demerger of tower and fibre optic network assets to two infrastructure trusts. The clearance was in spite of I-T objections. The department argued that the proposed conversion of preference shares worth Rs 65,000 crore by Jio - by cancelling and then converting these into loans -- would substantially reduce the profit of the demerged company. And, so, cause huge loss of revenue to the department. In sum, a move to avoid and evade taxes, it contended. Jio denied the charges. An e-mail sent this week by this publication to Reliance for its views on the issue did not elicit a response.In July this year, Brookfield had said it would pay Rs ..
 "I-T dept to move SC against Reliance Jio's plan to sell stake in tower arm")
Investors in fear as commercial disputes treated as criminal complaint: CII
Prime Minister Narendra Modi last week said the government is working to decriminalise some provisions of the Companies Act to make it easier to do business in the country
Top headlines: Jharkhand results, MCA moves NCLAT on Tata order, and more
The RoC on Monday moved the NCLAT requesting to amend its order and remove the word "illegal" with respect to the conversion of Tata Sons from a public company to private company
 "Top headlines: Jharkhand results, MCA moves NCLAT on Tata order, and more")
Corp Affairs Min moves NCLAT, seeks modification in its order on Tata Sons
Passing an order on December 18, NCLAT had directed for the reinstatement of ousted Cyrus Mistry as Chairman of Tata Sons.
Volatility could rise in Tata group firms
The NCLAT order could also create trading and investment opportunities
Equity investors shrug off NCLAT's adverse judgment in Tata-Mistry case
Most key Tata stocks have gained since Wednesday's order; weakness remains in smaller stocks
 "Equity investors shrug off NCLAT's adverse judgment in Tata-Mistry case")
NCLT directs Jet Airways lenders to expedite decision on fresh EOIs
The RP on December 17 had told the tribunal that until now two investors have shown interest in the airline
 "NCLT directs Jet Airways lenders to expedite decision on fresh EOIs")
Tata vs Mistry: What next in India's biggest corporate thriller?
If Supreme Court strikes down the NCLAT order restoring Cyrus Mistry's position, then life returns to normal at Tata Group.
 "Tata vs Mistry: What next in India's biggest corporate thriller?")
Ratan Tata's legacy threatened as tribunal overturns Cyrus Mistry's ouster
The NCLAT ruling leaves the Tata group rudderless as it faces a string of urgent decisions.
 "Ratan Tata's legacy threatened as tribunal overturns Cyrus Mistry's ouster")
A hard task master: NCLAT chairman ruffles many feathers, yet again
Mukhopadhyaya's latest ruling restoring Cyrus Mistry as Tata Sons chairman came as a rude shock to the salt-to-software behemoth.
 "A hard task master: NCLAT chairman ruffles many feathers, yet again")
NCLAT quashes conversion of Tata Sons into private firm, terms it illegal
The appellate tribunal observed that 'Curiously', the Tata Sons Limited remained silent for more than 13 years and never took any step for conversion
 "NCLAT quashes conversion of Tata Sons into private firm, terms it illegal")
NCLAT verdict over Mistry's removal as Tata Group Chairman on Wednesday
The Appellate Tribunal had reserved its order in July this year, after completing its marathon hearing over the issue
 "NCLAT verdict over Mistry's removal as Tata Group Chairman on Wednesday")
Patanjali gets one more week to complete Rs 4,350-cr Ruchi Soya deal
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya extended the deadline to December 23
 "Patanjali gets one more week to complete Rs 4,350-cr Ruchi Soya deal")
NCLAT dismisses ArcelorMittal plea over debt-ridden EPC Construction
The steel major has contended that the resolution plan submitted by it was ex facie a better resolution plan selected by the CoC.
 "NCLAT dismisses ArcelorMittal plea over debt-ridden EPC Construction")
Bhushan Power resolution may have to wait longer due to IBC amendments
Process tied in legal knots even with the latest set of amendments to IBC
 "Bhushan Power resolution may have to wait longer due to IBC amendments")
Jaypee homebuyers' body urges lenders, flat owners to vote for NBCC bid
This is the third round of bidding process, which has been initiated on the direction of the apex court.
 "Jaypee homebuyers' body urges lenders, flat owners to vote for NBCC bid")
NCLAT stays NCLT directive making MCA party in all insolvency cases
The appellate tribunal's direction came over a petition filed by the government through the Ministry of Corporate Affairs (MCA) challenging the NCLT order
 "NCLAT stays NCLT directive making MCA party in all insolvency cases")
SC orders interim stay on NCLAT order on Orchid Pharma resolution process
SBI filed the appeal with the Supreme Court to set aside the NCLAT order alleging that the appellate tribunal erred in overriding the commercial wisdom of the CoC
 "SC orders interim stay on NCLAT order on Orchid Pharma resolution process")
Jaypee Infra lenders to put bids of NBCC, Suraksha on vote simultaneously
Anuj Jain was appointed as an interim resolution professional (IRP) to conduct insolvency process and also manage the affairs of the company.
 "Jaypee Infra lenders to put bids of NBCC, Suraksha on vote simultaneously")
Govt moves NCLAT against NCLT order making MCA party in all IBC cases
The appellate tribunal is expected to hear the case on Friday