Page 3 - Nclt

Vedanta edges higher ahead of NCLT's decision on demerger scheme

Vedanta's plea to demerge into four distinct entities is listed for final approval before the NCLT on Wednesday; stock rises 1.1 per cent ahead of the tribunal's decision

Gensol Engineering admitted to insolvency by NCLT on Ireda petition

Ireda called for immediate oversight, stating Gensol had essentially become 'headless' following the departure of its senior leadership during the regulatory investigation

Gensol insolvency: NCLT admits Ireda's plea on ₹510 crore default

NCLT Ahmedabad admits two Gensol entities to insolvency proceedings under IBC on Ireda's plea, citing defaults totalling ₹729 crore; resolution professional to be appointed

NCLAT rejects Byju's plea on Aakash shareholding status quo directive

The appellate tribunal said the NCLT order was a consensual interlocutory directive that did not determine rights, and thus no interference was warranted at this stage

NCLT asks SpiceJet lessors to submit valid Power of Attorney by July 3

Tribunal defers hearing after SpiceJet flags expired authorisation; lessors directed to file valid Power of Attorney to proceed with insolvency petition

NCLAT refuses to lift asset freeze on Gensol Engineering, related firms

NCLAT directs Gensol Engineering and related entities to approach the NCLT for relief after denying plea to lift freeze on assets, accounts, and lockers amid fraud probe

Gensol, BluSmart face insolvency heat as NCLT issues fresh notices

Last week, NCLT also allowed the Centre to freeze the bank accounts and lockers of Gensol Engineering Ltd and many of its subsidiaries after investigations revealed major financial irregularities

NCLAT upholds insolvency order against Jaypee Cement, dismisses appeal

The National Company Law Appellate Tribunal confirms insolvency proceedings against Jaypee Cement Corporation Ltd, rejecting appeal and reinforcing earlier tribunal ruling on debt defaults

NCLT allows govt to freeze Gensol Engineering accounts in fraud probe

NCLT says Gensol moved funds meant for specific purposes to related parties, violating corporate governance norms under the Companies Act, 2013

IBBI to set up IP panel for faster appointments from July to December

The new zone-wise panel of insolvency professionals will be valid from July 1 to December 31, 2025, aimed at reducing delays in NCLT and DRT appointments

IBC not meant to shield violators of consumer rights from prosecution

The Supreme Court observed that staying the penalties imposed by the National Commission would set a dangerous precedent, allowing developers to delay justice by invoking insolvency proceedings

NCLAT tells NCLT to decide on Jaiprakash Power, Jaypee Fertilisers EOI stay

The insolvency appellate tribunal has directed the NCLT to promptly decide on the stay of the process of inviting Expression of Interest (EOI) regarding two Jaiprakash Associates group's investments in Jaiprakash Power Venture and Jaypee Fertilisers & Industry. In an order on April 29, 2025, the Allahabad bench of the National Company Law Tribunal stayed the process of inviting EoI by the Resolution Professional of debt-ridden Jaiprakash Associates Ltd (JAL), which is currently going through the Corporate Insolvency Resolution Process (CIRP). This order was immediately challenged by the National Asset Reconstruction Company Ltd (NARCL), which is the assignee of 85 per cent of debts of the banks to JAL and the Resolution Professional (RP), before the National Company Law Appellate Tribunal. However, a three-member bench of the NCLAT, led by Chairperson Justice Ashok Bhushan, observed that the matter is already scheduled for hearing before the Allahabad bench on May 26, 2025, hence

Over 92% NSEL traders approve Rs 1,950 crore one-time settlement plan

The settlement scheme filed with NCLT proposes a payout to 5,682 traders to resolve the 2013 NSEL crisis, with rights transferred to 63 moons upon approval

NCLT to hear Ireda's plea seeking insolvency against Gensol Engineering

NCLT to hear Ireda's plea against Gensol Engineering over a ₹510 crore default, but denies appointment of an IRP, citing the need to hear the company's side first

Creditors recover record ₹67,000 crore via IBC in FY25, up 42% from FY24

Creditors recovered ₹67000 crore through IBC in FY25 a 42% jump from FY24 aided by record corporate resolutions and higher NCLT capacity after new appointments

Don't stretch your power beyond statute: NCLT chairperson cautions litigant

NCLT Chairperson R Sudhakar says tribunal must operate within IBC and Companies Act as BPSL liquidation returns to Delhi bench after Supreme Court's recent ruling

NCLT rejects Adani Ports' late bid for insolvent Tuticorin Coal Terminal

Lenders to consider existing proposal by Seapol; tribunal signals possibility of wider interest amid improved performance

DFS tells public sector banks to speed up CIRP filings, cut delays at NCLT

The Department of Financial Services has urged public sector banks to reduce procedural delays in insolvency filings and improve resolution timelines under the IBC

NCLT, NCLAT can't review PMLA decision: Supreme Court in BPSL case

The Supreme Court has ruled that NCLT and NCLAT lack judicial review power over statutory decisions under the PMLA in the Bhushan Power and Steel liquidation case

Ex-Fortis promoter Shivinder Singh moves personal insolvency plea in NCLT

As most of his assets have either been disposed of or attached due to ongoing cases, he is unable to pay off his debts as a personal guarantor, Singh told the tribunal