Page 38 - Nclt

Tata Sons must seek NCLT nod for conversion to pvt firm: Mistry to SC

Mistry counsel Sundaram says such a move is necessary under provisions of the new Companies Act of 2013

NCLT Mumbai approves RIL arm's resolution plan for Reliance Infratel

The National Company Law Tribunal (NCLT) has approved a resolution plan for Reliance Infratel submitted by a group entity of Reliance Industries, according to a regulatory filing. "... the resolution plan submitted by Infrastructure Projects - a division of Reliance Projects & Property Management Services Limited, a wholly owned subsidiary of Reliance Industries Limited, for the resolution of Reliance Infratel Limited, under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code 2016, has been approved by the Hon'ble National Company Law Tribunal... Mumbai bench vide its Order dated December 3, 2020," RIL said in a late evening filing on Friday. Reliance Communications' telecom infrastructure arm Reliance Infratel has around 43,000 towers and 1,72,000 route kilometres of fiber. Lenders are expected to get around Rs 4,400 crore from the resolution process, sources had earlier said. The resolution plan was approved by 100 per cent votes of the committee of

NCLT okays resolution plan for Reliance Infratel; may entail sale of assets

Decks cleared for sale of tower, fibre assets to Reliance Digital

Reliance Infratel resolution gets NCLT nod; lenders may get Rs 4,400 cr

The resolution plan was approved by 100 per cent votes of the committee of creditors.

IL&FS gets approval to sell road asset Jorabat Shillong Expressway

Infrastructure Leasing and Financial Services on Tuesday said it has received the approval of Justice (retd) D K Jain - who is overseeing the debt-laden group's resolution process - for sale of Jorabat Shillong Expressway to Sekura Roads Ltd. Sekura Roads is backed by Edelweiss Infrastructure Yield Plus, an infrastructure category-I alternative investment fund. JSEL is a wholly-owned subsidiary of IL&FS Transport Network (ITNL). It has been classified as an amber company. Amber category is for those companies that would not be able to meet their obligations but can meet only operational payment obligations to senior secured financial creditors. IL&FS in a statement said Sekura had bid Rs 916 crore for the 100 per cent stake in Jorabat Shillong Expressway (JSEL). "SRL had emerged as the highest bidder for JSEL and the same was ratified by the committee of creditors (CoC) of ITNL and JSEL," it said. The group will now seek approval from the National Company Law Tribunal (NCLT) ..

Very little room for more rate cuts: Amandeep Chopra, UTI Asset Management

He says, the rate cycle seems to have bottomed out but RBI may not change its accommodative stance anytime soon

Company, too, can file consumer complaint

According to the National Commission, a company is also a consumer in case of goods and services purchased for self-use and not for profit generation

DHFL promoter Kapil Wadhawan moves NCLT, wants CoC to consider offer

The offer, he claimed, was in accordance with the June 7 circular of the Reserve Bank of India

IBBI proposes mechanism to allow withdrawal from voluntary liquidation

The process to rescind would be the same as was followed to initiate it - approval by a special resolution, passed by members or partners

NCLT approves Rs 103 cr resolution plan for NIIL Infrastructures

The National Company Law Tribunal has approved a Rs 103-crore bid to acquire debt-ridden NIIL Infrastructures, which is developing a housing project in Agra, Uttar Pradesh

Grasim Industries to sell fertiliser biz to Indorama Corp for Rs 2,649 cr

It's a slump sale and a major value-unlocking exercise for Grasim, allowing it to pursue growth opportunities in its core businesses

NCLT directs ArcelorMittal to pay Rs 1,300 cr for use of slurry pipeline

Tribunal responds to Srei Infra plea, holds charges for use of slurry pipeline for running Essar Steel as a going concern during CIRP period are insolvency resolution process costs

Lavasa hill city hits dirt; lenders may send company to liquidation

Lavasa, a subsidiary of construction major HCC, has defaulted on bank loans worth Rs 7,700 crore

Apollo Hospitals Q2 profit drops 29% to Rs 59 cr, revenue down 2.8%

Standalone revenues of the healthcare services division decreased by 18% to Rs 1,062.6 crore in Q2FY21.

IBBI approaches SC to club all cases on personal guarantee pending in HCs

Top court likely to give its order on Thursday, has indicated it may transfer all cases to itself, according to a senior lawyer

Jet Airways will have to reapply for slots, have 20 planes for global ops

When it shut operations, Jet Airways had close to 700 such slots pair including 116 and 214 in prime airports of Delhi and Mumbai

Lanco Infratech and lessons from a failed group resolution of troubled debt

The firm fundamentally has no assets, say experts. Ten of its subsidiaries are under corporate insolvency, most holding either a single or a group of road or power assets

Lenders to debt-ridden DHFL to meet on Monday to take call on bids

DHFL was the first finance company to be referred to the NCLT by the RBI using special powers under Section 227.

Videocon insolvency case: Dhoot family offers to pay Rs 30k cr to lenders

A proposal for paying the amount has been forwarded to the Committee of Creditors (CoC) of the Videocon Industries, Venugopal Dhoot told PTI

Adani, Piramal, Oaktree and SC Lowy submit bids for troubled DHFL

Oaktree bids for entire company, Piramal for retail loan book