Page 29 - Nclt

Max Group chairman rejects media reports about plea before NCLT

Analjit Singh says company will contest allegations of corporate governance.

NCLT has disposed of 62,000 cases out of about 83,000 filed: Official

The National Company Law Tribunal (NCLT) has disposed of nearly 62,000 cases out of nearly 83,000 cases filed before it, Rajesh Verma, Secretary, Ministry of Corporate Affairs said on Saturday.Addressing a national level Colloquium on the subject 'NCLT- The Road Ahead' organised by the NCLT, Verma said NCLT is an institution of pride and it has led to faster resolution of corporate disputes under the Company Act and the Insolvency & Bankruptcy Code (IBC).Verma emphasised that the IBC Code has seen a roller coaster ride with six amendments that have been made in the main legislation so far. He further stated that many provisions of IBC have come out unscathed when challenged (in the higher courts) and the Supreme Court of India had settled the jurisprudence on various aspects of this new law at an unprecedented pace and passion.In his address as the chief guest, Justice (retd) Ramalingam Sudhakar said that India is envisioning a multi-trillion dollar economy. Industry and ...

NCLT begins insolvency proceedings against realty firm Supertech

Union Bank claims unpaid dues of Rs 492 crore

NCLT extends Jet Airways revival plan deadline till March 29

The deadline has been extended by a week to allow lenders to formulate their view on the consortium's application. The matter will now be heard on March 29.

Sintex lenders to seek extra time from NCLT to complete resolution process

Lenders of Sintex Industries will approach the National Company Law Tribunal (NCLT) to seek an extension of time for the completion of the Corporate Insolvency Resolution Process (CIRP) and select a bidder for the debt-ridden textiles maker. The Committee of Creditors (CoC) in a meeting held on Monday "discussed and approved the proposal for extension of CIRP period beyond 330 days", Sintex Industries said in a regulatory filing. An application in this regard will be filed before the Ahmedabad bench of NCLT for the same, it added. Under the Insolvency & Bankruptcy Code, a CIRP has to be concluded within a maximum limit of 330 days, failing which the company has to face liquidation. Four companies, including Reliance Industries, are in the race to acquire Sintex Industries and have filed their bids, on which CoC has to take a decision through a voting process. Mukesh Ambani-led Reliance Industries Ltd is jointly bidding with Assets Care & Reconstruction Enterprise for Sintex ...

Jet Airways revival: NCLT to hear Kalrock-Jalan application on Tuesday

The 270-day deadline given to the group to implemey its plan ends on Tuesday; the consortium wants certain days excluded from this time frame in view of another pending application

Piramal Capital drags Anil Ambani companies to NCLT over unpaid dues

Reliance Natural Resources had defaulted on a loan of Rs 526.1 cr from DHFL before it was taken over by Piramal Capital last September for Rs 34,250 cr

Kalrock-Jalan consortium seeks two more months to revive Jet Airways

Makes application to NCLT; Rising cost of reviving operations is already a bone of contention between consortium and lenders

Chinese banks ask India to expedite Reliance Infratel bankruptcy process

Three lenders have combined exposure of Rs 13,483 cr in the troubled firm; express concern that despite tight deadlines mentioned in IBC, debt resolution is far from over

Future Enterprises to hold meetings with shareholders, creditors in April

Move follows NCLT nod to Future Group firms to seek approval of scheme that allows Future Group to sell its retail, logistics and warehousing businesses to RIL

Final KPMG forensic audit report on SREI had gaps: Hemant Kanoria in NCLT

In an application moved on Jan 19, he sought setting aside appointment of KPMG by Axis Bank and UCO Bank (lead banks in consortium of lenders) as auditor for SREI

Jaypee Infra insolvency: NCLT to hear Suraksha resolution plan on Mar 7, 9

The National Company Law Tribunal (NCLT) will hear on March 7 and March 9 matters related to approval of the Suraksha group's bid to acquire debt-ridden realty firm Jaypee Infratech Ltd

NCLT allows Future Group to convene shareholders' meet on RIL deal

'The schedule of the meetings of shareholders and creditors will be intimated in due course of time,' Future Retail said in a stock exchange filing

Zee approaches NCLT for dismissal of IndusInd bank's insolvency plea

IndusInd Bank had moved NCLT claiming default of Rs 83.08 crore against the media & entertainment firm.

Hemant Kanoria moves NCLT for setting aside KPMG audit at SREI

Jan 19 application filed by Kanoria cited an issue of parallel auditing in the wake of CIRP (corporate insolvency resolution process) in SREI

Restructuring of gasification assets to unlock value for Reliance

The restructuring of gasification assets will unlock value, provide flexibility for Reliance Industries Limited (RIL).

Liquor makers approach NCLAT, allege abuse of dominance by KSBC

Liquor industry bodies CIABC and ADBVI have approached the NCLAT alleging abuse of dominant position by the Kerala State Beverages (Manufacturing and Marketing) Corporation in the state

TVS SCS gears up for IPO; family settlement may get NCLAT nod in 6 weeks

TVS Supply Chain Solutions, the logistics arm of $8.5-bn TVS Group, will launch a Rs 3,000-cr IPO sometime in 2022-23

Jaypee Infra: Suraksha group expects NCLT nod by March through IBC

Suraksha group said the company expects to get the approval of the NCLT by March to acquire Jaypee Infratech Ltd (JIL) through insolvency process and complete around 20,000 flats for homebuyers

NCLT to decide on rights issue plea against Trinity Alternative Investment

NCLAT has asked the Kolkata bench of NCLT to decide over the plea of SREI Infrastructure Finance against the rights issue of its subsidiary Trinity Alternative Investment Managers