Page 42 - Nclt

NCLT orders insolvency procedure for Eason Reyrolle on SBI, Canara plea

The banks together claimed over Rs 230 crore from the company, along with interest and other charges

NCLT cancels this year's summer vacation for all benches across the country

The Delhi-based principal bench was scheduled to go on summer vacation in the month of June.

Jet lenders to take a call on fresh EoIs, voting to conclude by May 18

If lenders favour fresh EoIs, this will be the third time they would have called for EoIs. No positive result in previous two attempts as no party came forward with a concrete plan

Both debtors & creditors will be wary of using IBC in short term: M S Sahoo

As the banking system gears up to support businesses in face of defaults due to Covid 19, resolution of stressed assets could be the next big task for system, says M S Sahoo

RIL's Q4 PBT falls 33% to Rs 9,223 cr due to pressure in petrochemicals biz

The company looks to raise Rs 53,125 crore through this rights issue, which will be the first by RIL in three decades

Banks want IBC proceedings in all pending cases to be suspended for 2 years

Fall in valuation, lack of demand cited as reasons

Cash-strapped DHFL not to make any payment to lenders, bondholders

The Corporate Insolvency Resolution Process (CIRP) was initiated against the debt-ridden company as per the provisions of the Insolvency and Bankruptcy Code, 2016 with effect from December 3, 2019

Dhanuka Lab implements resolution plan for debt-ridden Orchid Pharma

The resolution plan will fetch the secured lenders around 32.3% recovery

Insolvency law a 'Swachhata drive' against non-performing asset: IBBI chief

The Code provides for a time-bound and market-linked resolution of stressed assets. If the resolution does not happen, the company concerned goes into liquidation.

IBA withdrawal of communique on loans of up to Rs 200 cr stumps banks

IBA withdraws note on FinMin letter which had PMO inputs

NCLAT dismisses Gayatri Devi's grandchildren claim on Jai Mahal Hotels

The grandchildren had earlier won the battle for transmission of their father's shares in their names

Flaws in Today Homes IBC process, UVARC demands offer to be reconsidered

The CoC in this case comprise over 1,757 residential flat owners spread across 18 towers and 21 commercial units in Noida. No banks are creditors

NCLT allows 90 days' extension for Jet Airways insolvency process

The cash-strapped airline, which was grounded in April 2019, owes more than Rs 8,000 crore to banks

Govt ramps up capacity of the NCLT Benches to boost decision-making

Since inception, close to 62,000 cases came to the NCLT. These include the ones which transferred from board of industrial and financial reconstruction and high courts

Raising threshold for insolvency: Good for NCLT, bad for smaller creditors

Experts are of the view that a substantial increase in threshold might affect certain sectors severely

Dealing with pandemic: Buyers, sellers need to reassess impact of COVID-19

Travel restrictions and other clampdown measures make time-critical deal-making a challenge, leading to legal and regulatory complications, say experts.

Govt appoints Justice B L Bhat as officiating chairman of NCLAT

NCLAT Chairperson Justice Sudhansu Jyoti Mukhopadhaya retired on Friday

Jet Airways CoC to seek 2-month extension from NCLT for submission of bids

The CoC may seek an extension in the deadline in the face of no potential bidder coming forward and also due to the ongoing coronavirus concerns

Jet Airways lenders to seek 90-day extension for resolution process

An extension of up to 90 days may be sought from the National Company Law Tribunal

Adanis' Rs 650-crore offer for debt-ridden Dighi Port gets NCLT nod

The NCLT has approved Rs 650-crore resolution plan submitted by Adani Ports & Special Economic Zone (APSEZ) for debt-ridden Dighi Port, located south of Mumbai. The resolution came with a huge 79.2 per cent haircut to the lenders, as they had made a claim of Rs 3,098 crore. The successful bid will give the Adanis access to Maharashtra, where it had no presence, even though the group straddles the entire coastline of the country with 11 operational ports and an under-construction transshipment terminal at Vizhinjam in southern Kerala. It can be noted that Dighi Port was the first port to go for a bankruptcy in April 2018. The 16-member committee of creditors (CoC) led by Bank of India, which collectively have 99.68 per cent voting shares, has approved APSEZ's revised offer of an upfront cash payout of Rs 650 crore, the National Company Law Tribunal (NCLT) said in an order dated March 5. Dighi Port, promoted by industrialist Vijay Kalantri owes Rs 3,098 crore to the lenders. He had