Tag: National Company Law Tribunal

sebi: Future-Reliance deal: Amazon urges Sebi to direct exchanges to withdraw observation letters

US e-commerce giant Amazon has written to Sebi requesting the market regulator to direct stock exchanges to withdraw the ‘Observation Letters’ that were issued related...

US district court lets Devas track down Indian space agency’s commercial arm Antrix’s assets

Devas Multimedia’s shareholders have been allowed to track down assets of the Indian space agency’s commercial arm, Antrix, and to enforce a $1.3 billion award...

NCLT dismisses insolvency resolution withdrawal application of Rolta India promoters

The dedicated bankruptcy court dismissed the plea for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the IT firm Rolta India on Tuesday,...

View: The enactment of Tribunals Reforms Act, 2021, marks the beginning of a new era of judicial reforms in India

The enactment of the Tribunals Reforms Act, 2021, by Parliament on Monday — shutting down multiple tribunals, including the Intellectual Property Appellate Board (IPAB) and...

NCLT dismisses minority shareholders plea for forensic audit at Golden Tobacco

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has dismissed a petition of the minority shareholders of seeking a forensic audit of the...

NCLAT stays order of NCLT against Appu Hotels

The National Company Law Appellate Tribunal (NCLAT) has stayed the operation of the orders of the first bench of the National Company Law Tribunal (NCLT)...

NCLT orders wind up Nakshatra World, a Mehul Choksi companies

The Mumbai chapter of the National Company Law Tribunal (NCLT) ordered the liquidation of Nakshatra World, a subsidiary of , one of the group companies...

India Inc faces delay in its M&A, restructuring proposals, as NCLT grapples with Covid-19 related restrictions

India Inc is facing a delay in its planned mergers and acquisitions (M&A), amalgamation or general restructuring activities owing to longer approval time taken by...

SBI moves to remove Reliance Infratel’s fraud tag

(SBI) has moved to withdraw allegations of fraud against Reliance Infratel, the telecom tower unit of (RCom), petitioning the National Company Law Tribunal (NCLT) to...

IBBI nudges Resolution Professionals for timely compliance

The Insolvency and Bankruptcy Board of India (IBBI) is looking to plug rule gaps, especially pertaining to the power of the resolution professional to make...

Suraksha ARC seeks “fair & unbiased” process in Jaypee Infra insolvency

Suraksha Asset Reconstruction Company, one of the two bidders for Jaypee Infratech under the insolvency procedure, has called upon the troubled real estate developer’s creditors...

NCLT initiates insolvency proceedings against Ahluwalia Contracts

The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against construction firm for defaulting on payments to an operational creditor. The New Delhi-based NCLT...

Jaypee Infratech insolvency: NBCC sweetens bid, to offer up to 1,903 acres land to lenders

State-owned Ltd has sweetened its bid and will offer up to 1,903 acre land parcels to lenders as against the earlier offer of 1,526 acres...

Shapoorji Pallonji Group files review petition in SC challenging verdict favouring Tatas against Cyrus Mistry

The Shapoorji Pallonji Group has filed a review petition before the Supreme Court challenging the top court’s March 26 verdict in the dispute between Tata...

NCLAT says lenders cannot treat telcos’ spectrum as ‘security interest’ under insolvency proceedings

The National Company Law Appellate Tribunal (NCLAT) on Tuesday ruled that debt-ridden telecom companies undergoing insolvency proceedings cannot claim rights to their spectrum, which is...

MCA moves NCLT against former management of CG Power

The Ministry of Corporate Affairs (MCA) has approached the Mumbai bench of the National Company Law Tribunal (NCLT) against the erstwhile management Avantha Group-owned CG...

Bankruptcy court admits insolvency proceedings against Tops Security

The dedicated bankruptcy court has admitted insolvency proceedings against security services provider Topsgrup Services and Solutions, popularly known as Tops Security. The Mumbai bench of...

Insolvency and Bankruptcy Code: Insolvency and Bankruptcy Code resolution timeline averages 440 days

MUMBAI: With the insolvency law entering the fifth year, a leading resolution agency has emphasised the need for focusing on efficiency to ensure time-bound resolution...

NCLT admits Antrix Corporation’s winding up plea for Devas Multimedia, appoints liquidator

New Delhi: The National Company Law Tribunal (NCLT) has admitted the petition filed by Antrix Corporation, the commercial arm of Indian Space Research Organisation, for...

NCLT agrees to hear plea alleging mismanagement in Omaxe

NEW DELHI: The National Company Law Tribunal (NCLT) has agreed to hear a petition filed against Omaxe Ltd alleging oppression and mismanagement in the affairs...

NCLT terms realty developer’s advance to landlord operational debt under IBC

MUMBAI: In a precedent-setting verdict, the National Company Law Tribunal has held that a real estate company’s advance to the owner of property for the...

Gautam Adani: Can improve DHFL offer, forfeit deposit of those against recovery of public money: Adani

New Delhi: Billionaire Gautam Adani‘s roads-to-mining group has indicated that it can improve on its Rs 33,000 crore takeover offer for collapsed housing lender DHFL...

Committee of Creditors to mull, finalize Lavasa takeover bids on Monday

MUMBAI: The Committee of Creditors (COC) of Lavasa will be meeting on Monday to consider and take a call on bids received from interested entities...

Any creditor of firm in liquidation can seek transfer of winding up plea from HC to NCLT: SC

The Supreme Court on Thursday held that “any creditor of a company in liquidation” can become a party to the winding up petition against the...

NCLT approves Rs 103 crore resolution plan for NIIL Infrastructures

New Delhi: The National Company Law Tribunal (NCLT) has approved a Rs 103-crore bid to acquire debt-ridden NIIL Infrastructures, which is developing a housing project...