Tag: nclt

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)...

Termination of telecom licence will kill RCom resolution, Deloitte tells bankruptcy court

Deloitte, the resolution professional for (RCom), on Thursday told the bankruptcy court in Mumbai that the troubled telco’s insolvency process will go kaput if the...

Public money being stolen through 80-90 per cent haircuts in NCLT resolution cases, says Harsh Goenka

RPG Enterprises Chairperson Harsh Goenka on Tuesday said the NCLT should be the next institution to be cleansed by the government to prevent “hard earned...

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...

DHFL lenders may move NCLT against guarantors

The season two of the legal tussle over is likely to begin with banks pursuing insolvency proceedings against personal guarantees given by the Wadhawan brothers...

NBCC to offer more land to dissenting creditors in revised plan to acquire Jaypee Infratech

has offered 1100 acres of additional land valued at over Rs 2200 crore to the dissenting creditors in its revised bid to acquire , people...

IBC review likely to keep promoters out

The government will examine the Insolvency and Bankruptcy Code (IBC) to stop defaulting promoters from wresting back control of companies by exploiting apparent loopholes. This...

NCLT directs liquidation of Devas Multimedia, allows petition by ISRO’s Antrix Corp

The National Company Law Tribunal (NCLT) has directed to initiate the liquidation process of Devas Multimedia by allowing the petition filed by Antrix Corporation, a...

Appellate Tribunal stays Mumbai NCLT order to consider Kapil Wadhawan’s DHFL settlement offer

The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the Mumbai NCLT’s order which directed the administrator of Dewan Housing Finance to consider a...

jaypee infratech: Creditors’ panel defers voting on Suraksha’s offer for bankrupt-Jaypee Infratech: IRP

Jaypee Infratech’s financial creditors have decided to defer the voting process on Suraksha group’s bid, that was scheduled to start from Monday noon, to acquire...

Lenders can recover dues from personal guarantors: Supreme Court

The Supreme Court said promoters or directors who have furnished personal guarantees will still be on the hook if a company is taken to bankruptcy...

Jaypee Infra creditors reject NBCC’s bid as non-compliant with IBC

Insolvency bound realty developer ’s Committee of Creditors (CoC) has termed state-run ’s bid for the company non-compliant with the code, as interpreted by the...

RIL entities seek NCLT nod for shareholders’ meeting to approve Future Group deal

Retail and Reliance Fashion have approached the National Company Law Tribunal (NCLT) seeking its permission to hold meetings of their shareholders and creditors to consider...

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...

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...

Gujarat Foils Ltd: Bankruptcy court dismisses liquidator’s plea in favour of former management of Gujarat Foils

Mumbai: Any transaction carried out during a normal course of business can’t be termed as an undervalued transaction without any evidence. The dedicated bankruptcy court...

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...

LLP Settlement Scheme: Tax professionals seek extension for CFSS and LLP Settlement Scheme till March

Mumbai: After the deadline for filing tax returns by businesses has been extended till February 15, the company secretaries and chartered accountants are seeking extension...

Insolvency case: NCLT allows plea for private sale of ABG Shipyard assets

Mumbai: The liquidator of ABG Shipyard has been permitted to sell its assets privately, since four attempts through auctions failed to yield any results. The...

View: An urgent need for a cross-border insolvency framework

Covid-19 may create stress on External Commercial Borrowings (ECB) and guarantees issued for overseas borrowings of Indian corporates. The consequences will not only be bitter...