Page 14 - Nclt

NCLT approves resolution plan for Reliance Communications Infrastructure

Last week, the NCLT gave its approval for the sale of specific real estate properties of Reliance Communications Limited

Lanco Amarkantak Power creditors to vote on Adani Power's Rs 4,100 cr bid

An unsolicited bid of Rs 3,650 crore was submitted by Adani Power, which was later improved to Rs 4,100 crore

Ashneer Grover approaches NCLT seeking reinstatement as BharatPe MD

Ashneer Grover also sought the revocation of the termination of his wife Madhuri Jain Grover and directions to revert any new shares issued by the firm since his resignation

SpiceJet-Wilmington Trust SP Services in deadlock over rental agreement

Spicejet said that as per the repayment schedule of arrears they received, the total amount due from February to December alone was $1,560,011

Explained: Epic Games' win against tech giant Google in US Federal Court

A US Federal Court has said that Google has turned the Google Play app store and Google Play Billion service into an illegal monopoly. But what is the Epic vs Google case? Here's all you need to know

NCLT grants time to SpiceJet till Jan to explore settlement with lessor

The NCLT on Monday dismissed Willis Lease Finance's plea to initiate insolvency against SpiceJet over unpaid dues due to some technical defects in their plea

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