Page 38 - Nclat

NCLAT reserves order on admission of contempt plea against Anil Ambani

HSBC Daisy had moved the appellate tribunal over alleged default of payment of Rs 230 crore by Reliance Infratel

NCLAT admits online vendors' petition against CCI clean chit to Flipkart

Passing an order on November 6, 2018, the CCI had held that the business practices of Flipkart and Amazon are not in violation of competition norms

NCLAT admits HUDCO's intervention plea claiming Rs 195 cr dues from Bakshi

Solicitor General Tushar Mehta, representing HUDCO informed the appellate tribunal that a matter related to the dues of Rs 195 crore is going on at Delhi-based Debt Recovery Tribunal

NCLAT directs IL&FS to submit information about four group entities

The National Company Law Appellate Tribunal Monday directed debt-ridden IL&FS to submit information over investment made by pension and provident funds in its four group firms, and also sought details of financial liabilities of those entities. These four 'amber' companies are -- Hazribagh Ranchi Expressway, Jharkhand Road Project Implementation Company, Moradabad Bareily Expressway and West Gujarat Expressway. The NCLAT also made clear that it has not stopped IL&FS and its group entities from going for resolution process. During the proceedings of the appellate tribunal, a two-member bench headed by Justice S J Mukhopadhaya observed that the money invested by pension fund, and provident fund in the IL&FS companies should be released first. "Provident fund and pension fund have nothing to do with this, this is not your money, it is related to the employees. "We want that it should be released first," the bench said. The NCLAT had directed 4 out of 13 amber entities to ...

Cabinet clears creation of more posts for judicial, tech members in NCLAT

"The posts will be created in Level 17 (Rs 2,25,000 - fixed) plus allowances as admissible. The total financial implication will be Rs 2,27,82,096 per annum," according to an official release

NCLAT restricts handing over of Bafna Pharma to its promoter

If the possession has already been handed over, promoter will not alienate, transfer or create third-party encumbrance of properties and must ensure firm remains a going concern

Fire at CGO Complex: NCLAT suspends hearing till further notice

The appellate tribunal was scheduled to hear some important matters listed before it, including matters of Jyoti structures, Dishnet wireless, Monnet Ispat and Liberty House

NCLAT asks Monnet Power Resolution Professional to consider BHEL's claims

Appellate tribunal says RP must consider BHEL's claims if company is able to verify the same

NCLAT asks govt to submit list of firms with their financial categorisation

The National Company Law Appellate Tribunal (NCLAT) has asked the government to provide a list of IL&FS group companies along with their categorisation based on their respective financial positions to pay their debt. The government had Monday submitted the debt resolution plan for crisis-hit IL&FS to the NCLAT and also suggested the name of retired Supreme Court judge Justice D K Jain to supervise the entire process. The entire resolution process would be based on the principles enunciated in the Insolvency and Bankruptcy Code. Under the plan, the government has categorised IL&FS group companies into green, amber and red based on their respective financial positions. "The Union of India will also submit lists of companies who are in the group of 'green', second list of the companies who are in the group of 'amber' and third list of Companies who are in the group of 'red' having registered office in India by the next date," said NCLAT. A two member bench of NCLAT headed by .

Will take action against firms such as Liberty House: NCLAT

NCLAT observations came during insolvency hearing of ARGL, a subsidiary of Amtek Group

NCLAT defers hearing on a contempt petition against Anil Ambani

The plea has been moved by HSBC Daisy Investments (Mauritius) and other minority shareholders over an alleged default in payment of Rs 230 crore

NCLAT to hear contempt plea against Anil Ambani over payment default

HSBC Daisy moved the appellate tribunal over alleged default of payment of Rs 230 crore by Reliance Infratel.

No need to hear out 3rd party during insolvency admission, NCLAT tells NCLT

In its order, the NCLAT also asked NCLT Kolkata to admit insolvency application moved against Odisha Slurry Pipeline Infrastructure if there is a clear case of debt owed to the bank

Not necessary to start insolvency against principal borrower first: NCLAT

It also held that the corporate guarantee provided was joint and co-extensive with that of the principal debtor

NCLAT asks Walmart to submit details of its merger with Flipkart

The CCI had in August cleared the $16-billion deal

Bhushan power insolvency: NCLAT allows bidders to revise offers by Monday

On Wednesday, the tribunal also said that the operational creditors' concerns of getting a better share would have to be looked into

NCLAT reserves order over Bhushan Steel, challenging sale to Tata Steel

The National Company Law Appellate Tribunal today reserved its order over plea filed by former promoter of Bhushan Steel challenging the sale of the debt-ridden company to Tata Steel under the Corporate Insolvency Resolution Process. The appellate Tribunal has also reserved order over pleas of engineering firm Larsen & Toubro Ltd, an operational creditor of Bhushan Steel, which has supplied goods worth Rs 900 crore to the company. A two-member bench headed by Chairman Justice S J Mukhopadhaya has said that the parties, which also includes Bhushan Energy, may file their written submissions by tomorrow. In May, the Principal bench of the National Company Law Tribunal (NCLT) had approved Tata's Rs 32,500 crore deal along with 12.27 per cent equity to the lenders. This was challenged before the NCLAT by the promoters, including Neeraj Singhal, and operational creditors of the company. Nearly 1,700 other operational creditors of Bhushan Steel has also moved the appellate tribunal ...

NCLAT junks cement-makers' plea against CCI's Rs 67-bn cartelisation fine

The appeals are dismissed, said the NCLAT, which now is an appellate authority over the Competition Commission of India (CCI)

NCLAT ruling on rule waiver: Cyrus Mistry says 'vindicated'

The NCLAT allowed plea by Mistry firms seeking the waiver in filing case of oppression and mismanagement against Tata Sons

NCLAT's Inox Wind order a precedent

Tribunal declares insolvency proceedings against corporate debtor Inox Wind 'illegal'