Tag: nclt

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...

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...

Infibeam Avenues gets NCLT nod for demerger of SME E-commerce Services, marketplace biz

New Delhi: Fintech firm Infibeam Avenues Ltd (IAL) on Saturday said it has received approval from the National Company Law Tribunal (NCLT), Ahmedabad, for demerger...

Ruchi Soya FPO: Ruchi Soya to launch FPO next year, says Swami Ramdev

New Delhi: Edible oil firm Ruchi Soya, which is owned by Patanjali Ayurved, will launch a follow-on public offer (FPO) next year to bring down...

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...

DHFL: NCLT allows extension of 90 days for the resolution process of DHFL

The dedicated bankruptcy court has allowed an extension of 90 days for the Corporate Insolvency Resolution Process (CIRP) of Dewan Housing Finance Corporation (DHFL). This...

NCLT allows liquidator to sell company stressed assets attached by agencies

MUMBAI:In a ruling that may have profound implications on many firms undergoing corporate insolvency process, a bankruptcy court has allowed the liquidator to sell the...

NCLAT sets asides NCLT order to make MCA party in all insolvency, company matters

NEW DELHI: The NCLAT has set aside an NCLT order to implead the Corporate Affairs Ministry as a party in all proceedings related to insolvency...