22 April 2019


Search Results for Tag : NCLAT

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NCLAT: Foreign Company Having No Office, Account in India Will Not Suffer in Recovering Debt(23.05.2017)

NCLAT has rejected argument that foreign companies having no office or no account in India with any “financial institution” will suffer in recovering .....

Tags : NCLAT, Foreign Company

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NCLAT Widens Definition of “Dispute” to Resist an Action for Insolvency Under Bankruptcy Code(29.06.2017)

NCLAT has widened definition of 'dispute' u/s 8,9 of Insolvency and Bankruptcy Code to include, apart from existing suits and arbitrations, any other .....

Tags : NCLAT, Insolvency and Bankruptcy Code

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NCLAT: Guarantors’ Assets Cannot be Liquidated Under IBC(08.03.2018)

National Company Law Appellate Tribunal (NCLAT) has ruled that personal assets of guarantors, who in most cases are promoters, cannot be liquidated in.....

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NCLAT Okays Vedanta Plans to Buy Electrosteel(31.05.2018)

National Company Law Appellate Tribunal (NCLAT)has allowed Vedanta Limited to acquire Electrosteel Steels by depositing the up-front payment of Rs. 5,.....

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NCLAT Stays Insolvency Proceedings Against RCom(31.05.2018)

National Company Law Appellate Tribunal (NCLAT) has stayed insolvency proceedings against the debt-laden company, paving the way for sale of RCom’s a.....

Tags : NCLAT, RCom

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NCLAT Asks Tata to Clarify Stand on Bhushan Steel’s Dues(31.05.2018)

National Company Law Appellate Tribunal (NCLAT) has asked Tata Steel Ltd to file an affidavit stating provisions in the resolution plan, if any, on th.....

Tags : NCLAT, Bhushan Steel

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NCLAT Refuses to Stay Resolution Process of Bhushan Power and Steel(13.07.2018)

National Company Law Appellate Tribunal (NCLAT) has turned down the plea of U.K.-based Liberty House to stay the resolution process of Bhushan Power a.....

Tags : NCLAT, Bhushan Power

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NCLAT Asks Numetal, ArcelorMittal to Tell Why Their Bids for Essar Steel Should be Considered(18.07.2018)

National Company Law Appellate Tribunal (NCLAT) has directed Numetal Ltd and ArcelorMittal India Ltd, which were disqualified under Section 29(A) of I.....

Tags : NCLAT, Numetal, ArcelorMittal

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NCLAT Stays Bhushan Power Lenders’ Meeting to Vote on Finalising Bids(18.07.2018)

NCLAT has stayed the meeting of Committee of Creditors of Bhushan Power and Steel Ltd. to vote on finalisation of bids for the debt-ridden firm.

Tags : NCLAT, Bhushan Power

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Give Bhushan Resolution Plan Details: NCLAT to Tata Steel(24.07.2018)

National Company Law Appellate Tribunal (NCLAT )has asked Tata Steel to furnish a detailed plan as to how it proposes to distribute the amount earmark.....

Tags : NCLAT, Insolvency

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NCLAT Allows CCI Penalty of Rs 6,300 Crore on Cement Companies(30.07.2018)

National Company Law Appellate Tribunal (NCLAT) has upheld Competition Commission of India's penalty of Rs 6,300 crore on 11 cement companies.

Tags : NCLAT, Cement

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Consider 1st Batch of Resolution Plans in Bhushan Power Case: NCLAT to CoC(31.07.2018)

National Company Law Appellate Tribunal (NCLAT) has said that the Committee of Creditors (CoC) should consider the first batch of resolution plans im .....

Tags : NCLAT, Bhushan Power

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Consider 1st Batch of Resolution Plans in Bhushan Power Case: NCLAT to CoC(31.07.2018)

National Company Law Appellate Tribunal (NCLAT) has said that the Committee of Creditors (CoC) should consider the first batch of resolution plans im .....

Tags : NCLAT, Bhushan Power

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NCLT Allows Merger of LLP, Private Companies(31.07.2018)

National Company Law Tribunal has given the green signal to merger of a Limited Liability Partnership with a private company.

Tags : NCLAT, LLP, Private Companies

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Financial Creditor Can’t be Denied Rights If Equity Conversion Not Approved: NCLAT(01.08.2018)

National Company Law Appellate Tribunal (NCLAT) has held that the lender cannot be excluded from the CoC if the conversion of loan into equity is not .....

Tags : NCLAT, Insolvency

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NCLAT Allows Bidders of Bhushan Power to Revise Offers by Monday(02.08.2018)

National Company Law Appellate Tribunal (NCLAT) has permitted all the three bidders of debt-ridden Bhushan Power & Steel Ltd -- Tata Steel, Liberty Ho.....

Tags : NCLAT, Bhushan Power

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NCLAT: No Bar to S. 138 Proceedings Under NI Act During Period of Moratorium Under IBC(07.08.2018)

National Company Law Appellate Tribunal, New Delhi has held that the court of competent jurisdiction may proceed with criminal proceeding under Sectio.....

Tags : NCLAT, Moratorium

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NCLT Cannot Adjudicate on Eligibility Criteria Laid Down by CoC: NCLAT(07.08.2018)

NCLAT has held that it is not in the domain of Adjudicating Authority to decide the requirement of minimum tangible net worth of one or other category.....

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NCLAT Extends Deadline to Submit Revised Bids for Bhushan Power(07.08.2018)

National Company Law Appellate Tribunal (NCLAT) has extended the deadline for a resolution plan for the stressed Bhushan Power and Steel Ltd (BPSL) ti.....

Tags : NCLAT, Bhushan Power

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NCLAT Holds Tata Steel Eligible to Bid for Bhushan Steel(13.08.2018)

National Company Law Appellate Tribunal (NCLAT) has upheld the sale of Bhushan Steel to Tata Steel, rejecting allegations of its ineligibility by the .....

Tags : NCLAT, Bhushan Power

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NCLAT Stays Liquidation Process of Jyoti Structures(21.08.2018)

National Company Law Appellate Tribunal (NCLAT) has granted interim stay on the liquation order against Jyoti Structures Ltd.

Tags : NCLAT, Insolvency

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NCLAT Stays Jyoti Structures Liquidation(22.08.2018)

National Company Law Appellate Tribunal (NCLAT) has stayed the liquidation of debt-ridden real estate firm Jyoti Structures and barred any sale of its.....

Tags : NCLAT, Jyoti Structures

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Delhi High Court to Ministry of Corporate Affairs: Resolve NCLAT Entry Woes(22.08.2018)

Delhi High Court has directed Ministry of Corporate Affairs to come up with a solution to the space crunch faced by NCLAT as well as the inconvenience.....

Tags : Delhi High Court, NCLAT

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NCLAT Declines Stay on Tata Sons' Conversion to Private Company(27.08.2018)

National Company Law Appellate Tribunal (NCLAT) has said that Tata Sons cannot force ousted chairman Cyrus Mistry to sell his shares in the group hold.....

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NCLAT Extends Hearing of Tata Mistry Matter to October 31(06.09.2018)

National Company Law Appellate Tribunal (NCLAT) has extended the hearing of the Tata Mistry matter to October 31.

Tags : NCLAT, Tata Mistry

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NCLAT Says Numetal’s Second Bid For Essar Valid(10.09.2018)

NCLAT has ruled that Numetal's second bid for Essar qualifies and that Arcelor Mittal can bid for the steelmaker if it clears the dues of its subsidia.....

Tags : NCLAT, Essar

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NCLT/NCLAT Shouldn't Interfere in Insolvency Resolution Proceedings: Supreme Court(14.09.2018)

Supreme Court has said that NCLT and NCLAT should refrain from interfering in insolvency resolution proceedings by the Interim Resolution Professional.....

Tags : Supreme Court, NCLT, NCLAT

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NCLAT Sets Aside Rs. 87 Crore CCI Penalty on Hyundai Motor(20.09.2018)

NCLAT has set aside an order of CCI imposing a Rs 87 crore fine on Hyundai Motor India for allegedly adopting unfair business ways with respect to dis.....

Tags : NCLAT, Hyundai Motor

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NCLAT Grants Moratorium to IL&FS on Creditors Procedings(16.10.2018)

National Company Law Apellate Tribunal has granted a moratorium on all creditor actions against IL&FS and its group companies for 'Larger Public Inter.....

Tags : NCLAT, IL&FS

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Financial Service Providers Outside Purview of Insolvency and Bankruptcy Code: NCLAT(24.10.2018)

National Company Law Appellate Tribunal has held that financial service providers such as non-banking financial companies are outside the purview of t.....

Tags : NCLAT, Financial Service Providers, Insolvency and Bankruptcy Code

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Financial Service Providers Outside Purview of Insolvency and Bankruptcy Code: NCLAT(24.10.2018)

National Company Law Appellate Tribunal has held that financial service providers such as non-banking financial companies are outside the purview of t.....

Tags : NCLAT, Financial Service Providers, Insolvency and Bankruptcy Code

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NCLAT Stays Resolution Plan for Assam Company on SEBI Plea(26.10.2018)

National Company Law Appellate Tribunal (NCLAT) has stayed the resolution plan approved by the Guwahati Bench of National Company Law Tribunal (NCLT) .....

Tags : NCLAT, Assam Company (India) Ltd.

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NCLAT Stays Resolution Plan for Assam Company on SEBI Plea(26.10.2018)

National Company Law Appellate Tribunal (NCLAT) has stayed the resolution plan approved by the Guwahati Bench of National Company Law Tribunal (NCLT) .....

Tags : NCLAT, Assam Company (India) Ltd.

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NCLAT Stays NCLT's Assam Company Takeover Order(29.10.2018)

Supreme Court has ordered Central Vigilance Commissioner (CVC) to complete his inquiry into Central Bureau of Investigation director Alok Verma in two.....

Tags : NCLAT, Assam Company

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NCLAT Stays NCLT's Assam Company Takeover Order(29.10.2018)

National Company Law Appellate Tribunal has stayed till the next hearing, BRS Ventures’ Rs 12.14 billion resolution plan for taking over of Assam Comp.....

Tags : NCLAT, Assam Company

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NCLAT Approves UltraTech Cement’s Revised Resolution Plan for Binani Cement(15.11.2018)

National Company Law Appellate Tribunal (NCLAT) has approved the revised resolution plan submitted by Ultratech Cement for debt-ridden Binani Cement.

Tags : NCLAT, Binani Cement, Ultratech

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Corporate Debtor can’t Maintain Appeal Under Insolvency & Bankruptcy Code: NCLAT(16.11.2018)

National Company Law Appellate Tribunal has dismissed an appeal filed by M/s Radius Infratel Pvt. Ltd. and held that corporate debtor cannot maintain .....

Tags : NCLAT, Insolvency & Bankruptcy Code

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Supreme Court Dismisses Dalmia Petition Challenging NCLAT Order on Binani Cement(20.11.2018)

Supreme Court has dismissed Dalmia Bharat’s plea challenging National Company Law Appellate Tribunal’s order allowing UltraTech Cement to acquire bank.....

Tags : Supreme Court, Binani Cement, Ultratech, NCLAT

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First Time Dispute in Reply of Demand Notice Doesn't Constitute Pre Existing Dispute Under IBC: NCLAT(30.11.2018)

National Company Law Appellate Tribunal has held that a dispute raised for the first time in reply to demand notice or in response to Adjudicating Aut.....

Tags : NCLAT, Insolvency and Bankruptcy Code

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NCLAT Asks Sole bidder for Jyoti Structures to Revise Resolution Plan(30.11.2018)

National Company Law Appellate Tribunal has ordered the only bidder for Mumbai-based infrastructure EPC company Jyoti Structures Ltd. to revise its re.....

Tags : NCLAT, Jyoti Structures

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Insolvency can be Triggered Against Unincorporated Joint Ventures: NCLAT(03.12.2018)

NCLAT has held in a case related to AMB Infrabuild Pvt. Ltd. and Earth Galleria Pvt. Ltd. that insolvency can be triggered against an unincorporated j.....

Tags : NCLAT, Unincorporated Joint Ventures, Insolvency

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NCLT can’t Decide Legality of a Foreign Decree: NCLAT(05.12.2018)

National Company Law Appellate Tribunal has held that NCLT, the ‘adjudicating authority’ under the Insolvency and Bankruptcy Code, was not a ‘court’ o.....

Tags : NCLAT, NCLT, Foreign Decree

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Application Under Sec. 7 of IBC can’t be Admitted After Settlement Between Parties: NCLAT(06.12.2018)

National Company Law Appellate Tribunal has declared admission of application under Section 7 of the Insolvency and Bankruptcy Code after settlement b.....

Tags : NCLAT, Section 7 of Insolvency and Bankruptcy Code

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NCLAT Upholds Verdict to Review Reliance & JM bid for Alok Industries(06.12.2018)

National Company Law Appellate Tribunal (NCLAT) has upheld the order issued by the National Company Law Tribunal (NCLT) directing the resolution profe.....

Tags : NCLAT, Alok Inndustries

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IL&FS Case: NCLAT Defers Hearing of Moratorium Matter to 20th December(18.12.2018)

National Company Law Appellate Tribunal has deferred to 20 December 2018 its hearing in the Infrastructure Leasing and Financial Services (IL&FS) mora.....

Tags : NCLAT, IL&FS

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NCLAT Quashes Insolvency Proceedings Against NCR Realty Firm Paramount Propbuild(29.12.2018)

National Company Law Appellate Tribunal (NCLAT) has set aside insolvency proceedings against Paramount Propbuild, noting that no notice was served to .....

Tags : NCLAT, Paramount Propbuild, Insolvency

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NCLAT Disposes of Contempt Plea Against Reliance Infratel(03.01.2019)

NCLAT has disposed of a contempt plea against Reliance Infratel filed by HSBC Daisy Investments (Mauritius) and other minority shareholders over defau.....

Tags : NCLAT, Reliance Infratel

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No Need to Hear Out 3rd Party During Insolvency Admission, NCLAT Tells NCLT(21.01.2019)

National Company Law Appellate Tribunal (NCLAT) has said that the National Company Law Tribunal (NCLT) should not hear any third party, other than the.....

Tags : NCLAT, NCLT, Hear Out 3rd Party During Insolvency Admission

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Action Will be Taken Against Firms such as Liberty House: NCLAT(23.01.2019)

National Company Law Appellate Tribunal (NCLAT) has come down hard on companies such as Liberty House Group, which successfully bid for debt-ridden fi.....

Tags : NCLAT, Liberty House

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NCLT Can't Decide Inter-Se Claims by Parties Over Assets of Corporate Debtor: NCLAT(05.02.2019)

National Company Law Appellate Tribunal has held that inter-se claims by parties over assets of the corporate debtor cannot be determined by the Adjud.....

Tags : NCLAT, Inter-Se Claims by Parties Over Assets of Corporate Debtor

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NCLAT Rejects Tata Steel’s Plea to Uphold its Bid for Bhushan Power(05.02.2019)

National Company Law Appellate Tribunal (NCLAT) has turned down Tata Steel’s plea to consider its bid for the debt-ridden Bhushan Power & Steel as the.....

Tags : NCLAT, Tata Steel, Bhushan Power & Steel

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NCLAT Rejects Tata Steel’s Plea to Uphold its Bid for Bhushan Power(05.02.2019)

National Company Law Appellate Tribunal (NCLAT) has turned down Tata Steel’s plea to consider its bid for the debt-ridden Bhushan Power & Steel as the.....

Tags : NCLAT, Tata Steel, Bhushan Power & Steel

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NCLAT Allows 22 IL&FS Group Firms to Service Debt Obligations(12.02.2019)

National Company Law Appellate Tribunal has passed an order permitting 22 group companies of Infrastructure Leasing and Financial Services (IL&FS), th.....

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Insolvency Proceedings can be Closed on Basis of Settlement Prior to Formation of CoC: NCLAT(15.02.2019)

National Company Law Appellate Tribunal has asked the Kolkata Bench of National Company Law Tribunal to close an insolvency proceeding by accepting th.....

Tags : NCLAT, Insolvency Proceedings

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NCLAT Sets Aside NCLT’s Insolvency Order Against ECL(15.02.2019)

National Company Law Appellate Tribunal (NCLAT) has set aside an order by Kolkata bench of National Company Law Tribunal which allowed initiation of i.....

Tags : NCLAT, NCLT, Coal India

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COMPANY - IL&FS, Arms can be Declared NPAs Only After Tribunal's Nod: NCLAT(26.02.2019)

National Company Law Appellate Tribunal (NCLAT) has ruled that accounts of Infrastructure Leasing & Financial Services (IL&FS) and its subsiadaries co.....

Tags : NCLAT, IL&FS

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INSOLVENCY - NCLAT Directs NCLT Ahmedabad to Take Call on ArcelorMittal's Essar Steel Bid by March 8(01.03.2019)

National Company Law Appellate Tribunal (NCLAT) has directed NCLT Ahmedabad bench to take a decision by March 8 on the Rs 42,000-crore bid submitted b.....

Tags : NCLAT, NCLT, ArcelorMittal's Essar

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INSOLVENCY - NCLAT Allows Withdrawal of Liberty House Bid for ARGL(08.03.2019)

National Company Law Appellate Tribunal (NCLAT) has allowed withdrawal of UK-based Liberty House bid for ARGL on the plea of resolution professional o.....

Tags : NCLAT, ARGL, Liberty House

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INSOLVENCY - NCLAT Directs NCLT to Decide on JSW's Bid for Bhushan Power & Steel by March 31(11.03.2019)

National Company Law Appellate Tribunal (NCLAT) has directed Delhi bench of NCLT to decide over JSW Steel's bid for debt-ridden Bhushan Power & Steel .....

Tags : NCLAT, Bhushan Power & Steel, JSW

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COMPANY - Notice of NCLAT Appeal to be Served Regardless of Supply of Advance Copy of Appeal Paper Book: SC(12.03.2019)

Supreme Court has observed that stipulation of service of notice on other side, pursuant to issuance of notice by National Company Law Appellate Tribu.....

Tags : NCLAT, Notice of NCLAT Appeal, Supply of Advance Copy of Appeal Paper Book

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COMPANY - NCLAT Slams RCom's Lender SBI over Rs. 37,000 Crore Asset Sale(12.03.2019)

National Company Law Appellate Tribunal has slammed lenders of Reliance Communications, State Bank of India, for painting a rosy picture of Anil Amban.....

Tags : NCLAT, State Bank of India, Reliance Communication

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COMPANY - Don't Hand Over Bafna Pharma to Promoter: NCLAT(12.03.2019)

National Company Law Appellate Tribunal (NCLAT) has ordered monitoring committee for Chennai-based Bafna Pharmaceuticals Ltd. to not to hand over poss.....

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INSOLVENCY - NCLAT Warns RCom May Land Back in Insolvency Unless Dues are Cleared(14.03.2019)

National Company Law Appellate Tribunal (NCLAT) has warned lenders to Reliance Communications that their failure to release tax refunds to clear telc.....

Tags : NCLAT, Reliance Communication

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INSOLVENCY - NCLAT Warns RCom May Land Back in Insolvency Unless Dues are Cleared(14.03.2019)

National Company Appellate Tribunal (NCLAT) has warned lenders to Reliance Communications that their failure to release tax refunds to clear telco's d.....

Tags : NCLAT, Reliance Communication

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INSOLVENCY - NCLAT Asks Ruias to First Clear Dues to Consider its bid for Essar Steel(15.03.2019)

National Company Law Appellate Tribunal (NCLAT) has directed promoters of Essar Steel to pay their dues, as per the orders of the Supreme Court, sayin.....

Tags : NCLAT, Ruias, Essar Steel

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INSOLVENCY - NCLAT Asks ArcelorMittal to Consider Revising Bid for Essar Steel(15.03.2019)

National Company Law Appellate Tribunal (NCLAT) has asked ArcelorMittal to consider revising its Rs. 42,000 crore bid for Essar Steel India Limited (E.....

Tags : NCLAT, Essar Steel, Arcelor Mittal

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COMPANY - NCLAT Refuses to Direct SBI to Release Rs.260 Crores to Reliance to Enable it to Settle Ericsson Dues(18.03.2019)

National Company Law Appellate Tribunal has refused to direct State Bank of India to release amount of Rs.260 crores of income tax refund to enable Re.....

Tags : NCLAT, SBI, Reliance Communications

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INSOLVENCY - NCLAT Refuses to Stay NCLT Nod to ArcelorMittal Resolution Plan for Essar Steel(18.03.2019)

National Company Law Appellate Tribunal has refused to stay a bankruptcy court order approving ArcelorMittal's Rs. 42,000 crore takeover bid for Essar.....

Tags : NCLAT, Essar Steel, Arcelor Mittal

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COMPANY - NCLAT Admits RBI Petition on IL&FS NPA Rule(20.03.2019)

National Company Law Appellate Tribunal (NCLAT) has admitted Reserve Bank of India's plea seeking modification of February 25 order of appellate tribu.....

Tags : NCLAT, IL&FS

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INSOLVENCY - NCLAT Sets Aside NCLT's Liquidation Order of Jyoti Structures(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has set aside the liquidation order of Jyoti Structures Limited and said that Mumbai bench of National.....

Tags : NCLAT, Jyoti Structures

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COMPANY - Statutory Dues of Companies are Operational Debt: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that statutory liability, including income tax and value added tax dues, of debt-ridden compa.....

Tags : NCLAT, Statutory Dues of Companies, Operational Debt

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INSOLVENCY - NCLAT Directs Fresh Essar Steel CoC Meet on Funds Distribution(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has asked resolution professional of Essar Steel India to call a fresh meeting of committee of credito.....

Tags : NCLAT, Essar Steel

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INSOLVENCY - I-T Department, Other Tax Agencies can Initiate Insolvency: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that Income Tax department of central government and other local authorities “who are entitle.....

Tags : NCLAT, Income Tax Department, Insolvency

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INSOLVENCY - I-T Department, Other Tax Agencies can Initiate Insolvency: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that Income Tax department of central government and other local authorities “who are entitle.....

Tags : NCLAT, Income Tax Department, Insolvency

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INSOLVENCY - NCLAT Seeks Financial Details of 13 IL&FS Subsidiaries(30.03.2019)

National Company Law Appellate Tribunal (NCLAT) has directed IL&FS to provide the details of the dues at 13 of its group companies and those of the cr.....

Tags : NCLAT, IL&FS

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NCLAT Seeks Details About 4 IL&FS Group Entities(09.04.2019)

National Company Law Appellate Tribunal has directed debt-ridden IL&FS to submit information over investment made by pension and provident funds in it.....

Tags : NCLAT, IL&FS

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Ericsson May have to Refund Rs. 576 Crore to RCom: NCLAT(09.04.2019)

National Company Law Appellate Tribunal has said that Swedish equipment maker Ericsson would have to refund Rs. 576 crore including interest to Relian.....

Tags : NCLAT, Ericson, Reliance Communications

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Shareholders can Apply for Settlement Approval with Creditors Even After Liquidator Appointed: NCLAT(16.04.2019)

National Company Law Appellate Tribunal has held that shareholders/promoters of a company can file application for approval of settlement with credito.....

Tags : NCLAT, Settlement Approval, Official Liquidator

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IL&FS Should Pay 80% Dues of Small Creditors: NCLAT(17.04.2019)

National Company Law Appellate Tribunal (NCLAT) has observed that IL&FS should distribute funds to small creditors, in a manner that 80 per cent of th.....

Tags : NCLAT, IL&FS

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Promoter too can Seek Revival During Liquidation: NCLAT(18.04.2019)

National Company Law Appellate Tribunal (NCLAT) has held that erstwhile promoter of a company undergoing liquidation under old Companies Act among its.....

Tags : NCLAT, Revival, Liquidation

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IBBI is Competent Body to Act Against Resolution Professionals: NCLAT(22.04.2019)

National Company Law Appellate Tribunal has said that Insolvency and Bankruptcy Board of India (IBBI) will be competent authority and not National Com.....

Tags : NCLAT, IBBI, resolution professional

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IBBI is Competent Body to Act Against Resolution Professionals: NCLAT(22.04.2019)

National Company Law Appellate Tribunal has said that Insolvency and Bankruptcy Board of India (IBBI) will be competent authority and not National Com.....

Tags : NCLAT, IBBI, Resolution Professional

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