Page 27 - Nclt

IBBI draft papers to improve insolvency resolution likely out this month

Delay in lenders seeking CIRP hitting recoveries

Future Retail case: NCLT to continue hearing Amazon's plea on June 14

A plea seeking initiation of insolvency resolution proceedings against Future Retail Ltd (FRL) was filed by Bank of India (BoI), the lead banker in the consortium of lenders of the company

FRL: NCLT to hear Amazon's plea opposing insolvency proceedings on June 10

A plea seeking initiation of insolvency resolution proceedings against FRL was filed by Bank of India (BoI), the lead banker in the consortium of lenders to the company.

NCLAT stays insolvency proceedings against RHC Holding initiated by NCLT

The National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against RHC Holding, an entity promoted by former promoters of erstwhile Ranbaxy and Fortis Healthcare

SC allows banks to go ahead with Siva Industries settlement offer

Says tribunals can't interfere with banks' commercial wisdom; promoter's offer of Rs 328 cr was okayed by CoC

Appellate authority can't sit in appeal over 'commercial wisdom' of CoC: SC

The top court observed that interference would be warranted only when the National Company Law Tribunal or the National Company Law Appellate Tribunal finds the decision of CoC to be wholly capricious

Sebi smoothens approval process for change in control of portfolio manager

Under this, the regulator has specified the procedure that needs to be followed by portfolio managers in matters which involve scheme(s) of arrangement which needs sanction of the NCLT

Jet Airways staff association challenges resolution plan before NCLAT

All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline

Alipore Court restrains KPMG, banks from acting on SREI audit report

The order was passed on May 20, based on a petition by SREI promoter Hemant Kanoria. Next hearing on May 30

Earnings announcements of Future Retail, Future Lifestyle to be delayed

In the last two months, Future Retail Ltd, the flagship firm of Kishore Biyani-led Future Group, witnessed several top-level exits after the Rs 24,713-crore deal with Reliance Retail was called off

GAIL India moves NCLT to recover Rs 9,942 crore Uttam Galva dues

Dispute arises as resolution professional accepted only Rs 167 crore of claims

Prestige Group to pump at least Rs 7,500 cr to gain foothold in Mumbai

The listed company, which has a presence in the southern market and has delivered over 250 projects, will develop both residential and commercial projects in the financial capital

EMC case: Pawan Hans bidder initiates process to appeal against NCLT order

The statement from the Cayman Islands-based fund comes a day after the government decided to put on hold the sale of Pawan Hans as it was legally examining the NCLT order against AGOF

NCLT Kolkata dismisses Kanoria application against KPMG forensic report

Sources say tribunal also rejected contempt petition filed by Kanoria after Punjab & Sind Bank declared the account fraud

NCLT allows Future Retail more time to file reply to insolvency plea

Amazon moves application, says Future Retail and banks are colluding to deny its rights.

PNB to bring down NPAs, ensure high loan recoveries: Atul Kumar Goel

The lender declared its January-March earnings Wednesday, and posted a drop in its gross NPAs to 11.78 per cent from 14.12 per cent reported a year ago

Petition for insolvency gets time-barred if filed after 3 years: NCLAT

A former managing director of a Dutch company had moved tribunal seeking payment of salary arrears from its Indian arm.

NCLT admits petition for CIRP against EPC firm McNally Bharat Engineering

Williamson Magor Group, which owns the firm, confirmed the development but indicated that options for resolution were still being looked at

NCLT adjourns the insolvency plea against Future Retail to May 12

Earlier this month, BoI had filed insolvency proceedings against Future Retail for non-payment of dues

NCLT directs to initate insolvency proceedings against Andhra Cement

The National Company Law Tribunal has directed to initiate insolvency proceedings against Andhra Cement, a company owned by the debt-ridden Jaypee Group. The Hyderabad bench of the NCLT (National Company Law Tribunal) has also appointed Nirav K Pujara as the Interim Resolution Professional (IRP) of the company, and declared a moratorium in respect of the company as per the provision of the Insolvency & Bankruptcy Code (IBC). "The company is now under CIRP (Corporate Insolvency Resolution Process) as per the provisions of the code. As per Section 17 of the code, the powers of the board of directors of the company stand suspended and as such the powers shall be vested with and exercised by the IRP," Andhra Cement said in a regulatory filing. The company has also shared the order passed by the insolvency tribunal on April 26, 2022, in this regard. Meanwhile, in a separate filing, Andhra Cement has invited its creditors to submit their claims by May 10, 2022, before the IRP. NCLT's ..