Page 52 - Nclt

NCLT yet to fire fully with over half of admitted cases still unresolved

Of the 1,484 cases admitted at the NCLT (up to end-December 2018) under the corporate insolvency resolution process (CIRP), 898 are yet to be resolved

NCLT helps recover Rs 800 bn in 2018; kitty may cross Rs 1 trillion in 2019

Tasked with a key job of helping recover unpaid corporate loans, the NCLT has helped resolve insolvency and bankruptcy proceedings involving more than Rs 80,000 crore in the year passing-by and the kitty is expected to swell beyond Rs 1 lakh crore in 2019 with several big-ticket default cases pending. Plans are afoot to further strengthen the National Company Law Tribunal (NCLT) by increasing number of judges and benches and provide adequate infrastructure to fast-track the process, according to government officials. The new year will not only test the mettle of the Insolvency and Bankruptcy Code (IBC), but also of the NCLT and its appellate body NCLAT, as several high-profile cases need to be resolved -- Essar Steel (involving over Rs 80,000 crore alone) and Bhushan Power & Steel (about Rs 45,000 crore due to its lenders) are just a few, experts said. In 2018, over Rs 80,000 crore was recovered from various corporate debtors, which had defaulted payments, under the IBC through ...

NCLAT stays corporate insolvency proceeding against Eastern Coalfields Ltd

NCLAT has listed the matter on January 29 for further hearing

How NCLT Chennai's order may restrain the freedom of creditors' panel

Going by a recent order of the NCLT Chennai bench, in the case of Ashok Magnetics Limited, this critical aspect of the code is likely to be reviewed

With over 10,000 cases, manpower shortage, NCLT struggles with workload

While the sanctioned strength is 62 members, NCLTs across the country have only 28 members to hear all cases

Bring back court scrutiny of corporate schemes

Shifting jurisdiction to the corporate affairs ministry would be retrograde and indeed unconstitutional

Sunil Goel gets NCLT nod to inspect Omaxe holding firm's documents

Guild Builders is the holding company of Omaxe

NCLT could lose power to approve mergers and acquisitions in reform move

MCA likely to be given responsibility; aim is to let tribunal focus on company law, insolvency cases

Govt defers plan to set up special NCLT benches for insolvency cases

Eight courts were to be set up to exclusively deal with insolvency cases - three in Mumbai, two in New Delhi, and one each in Chennai, Kolkata and Hyderabad

Videocon insolvency pleas to be heard in single court: NCLT principal Bench

NCLT President Justice M M Kumar directed to transfer the insolvency petitions to one court headed by M K Shrawat

NCLT approves 45 resolution plans, orders 19 liquidations in 2 years of IBC

Of these resolution plans, at least 12 are being implemented, while four are being contested at NCLAT

NCLT approves BRS Ventures' Rs 12.14 bn plan for Assam Company takeover

Under this plan, which is nearly 3.5 times the liquidation value of Assam Company, the lenders will be taking a 20 per cent haircut over their total claims, including interest

IDBI drags GVK power arm to NCLT; company seeks settlement

GVK Goindwal Sahib, which owns a 540-Mw coal fired power plant in Punjab, is GVK Group's first subsidiary to be taken to the NCLT for failing to replay the loans

Don't interfere in insolvency resolution proceedings: SC to NCLT/NCLAT

NCLAT has saddled ArcelorMittal to clear Rs 70 billion liability of Uttam Galva and KSS Petron as it was associated with these two companies

NCLT approves merger of Ahmedabad based NMCE with Reliance-anchored ICEX

The merger will create India's third largest commodity exchange after MCX and NCDEX

Govt plans eight special courts under NCLT to deal with insolvency cases

These courts will be set up in Mumbai, Delhi, Chennai, Kolkata, and Hyderabad

NCLT rejects Jyoti Structures' resolution plan, orders liquidation

This is the first case out of the Reserve Bank of India's first list of 12 large stressed corporates referred to the bankruptcy court, that has been directed to go for liquidation

NCLT has exceeded expectations in terms of deciding cases in 2 yrs: Experts

The Insolvency Code and its cases under the NCLT are noteworthy, especially at a time when there are issues of large loan defaults in the country

Over 1,600 merger cases pile up before NCLT as insolvency takes precedence

Sources say the time taken by the tribunal to approve mergers is more than what high courts used to take

NCLT turns down Menon Bearings' plea in Gitanjali Gems case

Axis Bank is the main lender to Menon Bearings