Page 46 - Nclt

NCLT extends immunity to new board-appointed members at IL&FS firms

The earlier order extended immunity to directors appointed by NCLT, also known as the 'New Board'

Auctions fail to get mine blocks running, only five leases inked in 5 years

Analysis by Fimi shows how auctions have lulled mining from virgin blocks

Success fee gaining currency among insolvency resolution professionals

No official data is available on the charges but Insolvency and Bankruptcy Code (IBC) experts say the fee is being paid in more than half of the overall cases going for resolution

In a breather to Raheja Developers, NCLAT sets aside insolvency proceedings

The NCLAT also questioned the role of its flat buyers and observed that they moved the NCLT to initiate insolvency proceedings against the company "fraudulently with malicious intents".

Oberoi Realty, US-based fund Interups to bid for cash-strapped Lavasa

During the committee of creditors (CoC) meeting held in early January, the lenders had decided to place fresh expressions of interest (EoIs) before the NCLT.

NCLAT stays NCLT ban on ex-bankers' appointment as resolution professionals

The NCLT order had cast doubt on debt resolutions of several companies including Videocon Industries and Essar Projects, where former bank officials are working as IRPs

A luxury yacht and 5-year-old firm in middle of an unusual insolvency case

The luxury vessel has been docked on the banks of Hooghly for nearly a year without generating any business for the company

Takeover norms for unlisted firms getting finalised, to be unveiled soon

Unlisted companies have no formal takeover code and shares are transferred on the basis of contracts and agreements

IL&FS case: NCLAT reserves order over NCLT jurisdiction to implead auditors

Hearing a plea by Deloitte Haskins and Sells and KPMG arm BSR & Associates, the NCLAT on Friday reserved its order on the NCLT's jurisdiction over impleadment of auditors in the case involving alleged fraud in IFIN, a subsidiary of IL&FS. The two-member bench led by Chairman Justice S J Mukhopadhaya also sought a written submission from the Ministry of Corporate Affairs by Tuesday, to determine whether the NCLT has jurisdiction to initiate civil proceedings against any party. The Ministry of Corporate Affairs (MCA) had asked the National Company Law Tribunal (NCLT) to freeze the assets of the former auditors in the case involving alleged fraud in IFIN, a subsidiary of Infrastructure Leasing & Financial Services (IL&FS). Arguing for the government, a counsel said that impleadment is being sought to explain the conduct by auditors. He said all those persons who have been impleaded are directly attached with the affairs or the management of affairs of the company and ...

RCom CoC to seek 24-day extension for asset sale as deadline ends on Jan 10

The other bidders include Bharti Airtel, Värde Partners and UV Asset Reconstruction Company (UVARCL)

NCLT warns Jet Airways CoC of contempt proceedings for not releasing funds

The bench directed the CoC to at least pay the amount by January 20, or the tribunal will initiate contempt proceedings against the defaulting members

Jaypee Infra's IRP approaches NCLT Allahabad for approval of NBCC's bid

Last month, NBCC won the bid to acquire Jaypee Infratech after financial creditors, including lenders and homebuyers, approved its resolution plan

Twist in corporate drama: Tata's financial shape worse than in FY15, FY19

The analysis is based on the annual audited consolidated finances of all listed Tata Group firms for the respective financial years

Jet Airways lenders give time till January 15 for submission of EoIs

Jet has completed 180 days of its insolvency proceedings and has extended the corporate insolvency process by another 90 days.

Setback for the Tatas

NCLAT judgment raises several questions

NCLAT expunges NCLT order on Mistry, terms it 'disparaging, avoidable'

The NCLT had used words in remarks which includes "heart burn", "settle their score", "prejudicial to the interest of the company", "sovereign authority", "his way is highway" etc in its order.

Cyrus Mistry unlikely to take up a board position, may appoint nominees

Mistry and his team are reviewing the legal situation

Gruelling battle for 865 days: The making of Rs 42,000-cr Essar Steel deal

Getting to this point wasn't easy. The road was riddled with challenges as much for ArcelorMittal as it was for stakeholders

Budget 2020: FM to meet heads of PSBs to discuss credit situation, economy

The meeting is also expected to take up discussion on non-performing asset recovery through both NCLT and non-NCLT means

Is sheer size the biggest hurdle in the NCLT route for McLeod Russel?

Viability of the tea industry is another factor that is holding back companies from bidding for India's largest tea company