Page 31 - Nclt

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

NCLT adjourns Jio's petition seeking RCom's forensic audit reports

Lenders awaiting RCom's debt resolution since May 2018

Merger of two listed Jindal Stainless companies to spill over to FY23

NCLT yet to approve process; company filed first motion petition with tribunal nearly two years ago

NCLAT rejects petitions against Ola in alleged predatory pricing matter

NCLAT has rejected petitions filed by ride sharing players Meru and Fast Track Call Cab against Ola alleging predatory pricing ways and anti-competitive practices in Bengaluru market

NCLAT sets aside NCLT approval of Twin Star's resolution plan for Videocon

Remits matter back to Videocon's CoC for fresh bids; resolution plan approved was for only 4.15% of total outstanding claim amount and total hair cut to all creditors was 95.85%

Best of BS Opinion: Strengthening IBC, happy stories for new year & more

Here is the best of Business Standard's opinion pieces for Wednesday

GMR Infrastructure gets NCLT nod for demerger of non-airport business

GMR Infrastructure had unveiled the rejig plan on August 27 last year, to simplify the corporate holding structure and to attract sector-specific global investors

Ministry proposes fixed timeline for NCLT, extended look-back period in IBC

The government has sought public comments on the proposal by January 13

Jalan-Kalrock consortium approaches NCLT to fast-track Jet resolution

The consortium said it plans to restart domestic operations at the earliest in 2022 as a full-service carrier

NCLT, NCLAT can encourage, not direct settlements under IBC: SC

The bench said that settlements have to be encouraged because the ultimate purpose of the IBC is to facilitate the continuance and rehabilitation of a corporate debtor

RBI retains three-member Advisory Committee of Reliance Capital

A day after NCLT admitted RBI's petition for insolvency resolution of Reliance Capital, the central bank on Tuesday said it has retained the three-member Advisory Committee to assist the newly appointed administrator of the crisis-ridden NBFC. The Mumbai bench of the National Company Law Tribunal (NCLT) on Monday admitted the Reserve Bank's plea to initiate insolvency resolution proceedings against Reliance Capital. Last month, the RBI had superseded Reliance Capital's board, citing defaults and governance issues. Upon admission of the petition, the RBI said it has decided that "the three-member Committee shall continue as the Advisory Committee" under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019. The Advisory Committee shall advise administrator Nageswara Rao Y in the operations of Reliance Capital Ltd during the corporate insolvency resolution process. The members of t