Page 13 - Nclt

NCLT directs Grover to establish maintainability of plea against BharatPe

The case will next be heard by the New Delhi bench of the National Company Law Tribunal (NCLT) on January 11

Is grounded airline Go First even capable of doing test flight, asks lessor

The lessor also said that even physical inspection of the aircraft was not granted by the RP, besides the aircraft not being maintained and records not being provided to them

Govt to create 'admission benches' in NCLT to expedite CIRP applications

The admission bench will admit/reject the application within 14 days of receiving it

Govt mulls increasing NCLAT's strength to speed up corporate case disposal

The Centre is considering increasing the member strength of NCLAT to 20 from 12, and NCLT from 63 to 163

NCLT rejects insolvency plea against SpiceJet by lessor Willis Lease

In a relief to low-cost carrier SpiceJet, the National Company Law Tribunal (NCLT) on Monday dismissed an insolvency petition by aircraft lessor Willis Lease Finance Corporation which is claiming dues. A two-member Delhi-based NCLT bench rejected the plea moved by US-based Willis Lease Finance Corporation after SpiceJet questioned the maintainability of the petition. SpiceJet opposed the plea contending that Willis Lease Finance Corp has withdrawn its insolvency plea for the same dispute in March 2023 and has approached again with a new plea. During a hearing in July this year, the NCLT bench wanted to know from Willis Lease Finance Corp, as to how it filed a fresh petition again for a similar cause of action within a few months, without even sending a notice to SpiceJet as per the provisions of the Insolvency and Bankruptcy Code, 2016. Besides Willis Lease, SpiceJet is facing insolvency pleas filed by three other aircraft lessors -- Aircastle Ireland Ltd, Wilmington, and Celestial

NCLT has power to decide IBC disputes, not HC: Go First RP to Delhi HC

Kaul also questioned which resolution applicant would be interested in the Corporate Debtor if it's not revived?

BCCI takes edtech major Byju's to NCLT over jersey sponsorship dispute

"We are in discussions with BCCI to settle the matter and we hope to achieve that soon," according to a Byju's spokesperson

NCLT extends insolvency process of grounded airline Go First by 90 days

The tribunal has also asked the resolution professional (RP) of the airline to submit a 90-day action plan

Adani, JSW Cement, and ArcelorMittal eyeing Vadraj Cement in IBC Sale

The Bombay High Court ordered the winding up of Vadraj Cement in August 2018, leading to the decision to sell the company under the IBC process

Jaiprakash Associates signs agreement to partly repay dues to ICICI Bank

To get 18.9 crore shares which was pledged

NCLAT adjourns hearing on IDBI's insolvency plea against Zee to Dec 6

The National Company Law Appellate Tribunal (NCLAT) on Wednesday adjourned its hearing to December 6 over the plea of IDBI Bank seeking to initiate insolvency proceedings against Zee Entertainment. A three-member NCLAT bench deferred the hearing after the counsel appearing in the matter sought an adjournment to complete the pleadings. IDBI Bank in its plea has challenged the order of the Mumbai bench of the National Company Law Tribunal (NCLT), which, on May 19, 2023, had set aside the insolvency plea against the media major, observing that it was barred under Section 10A of the Insolvency & Bankruptcy Code (IBC). In its order, the NCLT bench had said that ZEEL, which was the corporate guarantor for the loan availed by Siti Networks -- the principal borrower of IDBI Bank -- has committed a default. However, the default was committed during the timeline specified under section 10A of the IBC. Section 10A mandates no application for initiation of a corporate insolvency resolution ..

Bankers await closure of Reliance Cap acquisition by Hinduja Group

The group may look at raising by pledging shares of other group entities

Power ministry nudges state govts, gencos to take up insolvent assets

The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply

NCLT relief to help Bajaj Hindusthan focus on expansion, growth plans

Sources said the plans, which were on hold due to the NCLT proceedings, will now be restarted with renewed vigour

NCLT dismisses petition against Bajaj Hindustan after withdrawal by SBI

The company owed banks about Rs 4,771 crore and had availed itself of two debt-restructuring schemes, leading to steep haircuts taken by the lenders

'No objection' from stock exchanges for ICICI Securities' delisting plan

Sebi, on its website, has disclosed that it received a No-Objection Certificate (NOC) from the exchange on October 12 and that the brokerage firm's scheme was under process

TMS Ep547: SC on NCLT & NCLAT, airport charges, markets, Mandal Commission

Why is the SC worried about NCLT and NCLAT? Can airport operators raise charges as demand goes up? Will markets bounce back this week? What was the Mandal Commission? All answers here

TMS Ep546: Twitter paid service, mission to moon, FMCG stocks, NCLT & NCLAT

Can paid Twitter help clean up the bot mess? What will it take for an Indian to land on the moon? Is it time to bottom fish FMCG stocks? What are NCLT and NCLAT? All answers here

Delhi HC tells DGCA to clarify stand on MCA notification on moratorium

The court was hearing a case by aircraft and engine lessors of Go First against the DGCA for the release of their aircraft

NCLT approves Himadri, Dalmia Group's joint resolution plan of Birla Tyres

Himadri stated that the Kolkata bench of NCLT had given a 'verbal' approval of the insolvency resolution plan of Birla Tyres