22 April 2024

Search Results for Tag : nclt

Judgments

A winding up order passed by a Company Judge is not irrevocable and proceedings can be later transferred to NCLT, if same is in company’s interest(10.10.2019)

The instant appeal has been preferred in the name, and on behalf of the Appellant-company, by Mr. Naresh Kumar Aggarwal, who claims himself to be the .....

Tags : Winding up, Transfer, NCLT

News

NCLT Directs Era Infra RP to Admit ICICI Bank as Financial Creditor(07.12.2018)

National Company Law Tribunal (NCLT) has directed the resolution professional of Era Infrastructure India to admit ICICI Bank as a financial creditor .....

Tags : NCLT, ICICI, Era Infra

NCLT Accepts SREI Resolution Plan for Deccan Chronicle(04.06.2019)

National Company Law Tribunal (NCLT) Hyderbad has finally accepted the resolution plan for Deccan Chronicle Holdings Ltd where lenders agreed to take .....

Tags : NCLT, Deccan Chronicle

Jet Airways Insolvency: NCLT Directs Synergy to Submit Resolution Plan by Dec 3(19.11.2019)

National Company Law Tribunal has directed the Synergy Group, the sole entity interested in the beleaguered Jet Airways, to appear before it and prese.....

Tags : NCLT, Jet Airways

NCLT Dismisses Essar Power Jharkhand Ex-Promoters' Bid to Clear Dues(31.05.2019)

National Company Law Tribunal (NCLT) has dismissed Essar Power Jharkhand’s former promoters’ bid to take the company out of insolvency by offering to .....

Tags : NCLT, Essar Power

NCLT Directs Jayaswal Neco, SBI to Furnish Details of SC Petition(27.08.2019)

National Company Law Tribunal/NCLT has directed Jayaswal Neco Industries Ltd and its lender, the State Bank of India to give details about the petitio.....

Tags : NCLT, Jayaswal Neco

NCLT Directs Telecom Department not to Terminate Aircel's License and Spectrum(29.11.2019)

National Company Law Tribunal has directed Aircel’s telecom licence not be cancelled granting relief to the company that filed for bankruptcy in March.....

Tags : NCLT, Aircel

NCLT Clears Patanjali's Revised Rs 4,350-Cr Bid to Take Over Ruchi Soya(26.07.2019)

National Company Law Tribunal (NCLT) has finally cleared the Rs 4,350-crore bid by yoga- exponent Ram Dev-run Patanjali Ayurved to take over edible oi.....

Tags : NCLT, Ruchi Soya

Govt Takeover of Unitech: NCLT Should Have Taken Our Permission, Says SC(12.12.2017)

The bench considered the request of Additional Solicitor General Tushar Mehta that one more day be given to him to seek instruction from the concerned.....

Tags : NCLT

SC: Residuary Jurisdiction of NCLT Cannot be Invoked to Adjudicate Contractual Dispute(24.11.2021)

Supreme Court has observed that the residuary jurisdiction of the National Company Law Tribunal cannot be invoked to adjudicate contractual dispute if.....

Tags : Supreme Court, Residuary Jurisdiction of NCLT

Delhi High Court: McDonald's Plea Against NCLT Show Cause Premature(02.02.2018)

Delhi High Court has said that a plea by McDonald's against a show cause notice issued to the fast-food major by the National Company Law Tribunal on .....

Tags : Delhi High Court, McDonald, NCLT

NCLT Rejects Government’s Plea of 3-Month Moratorium for IL&FS(15.10.2018)

NCLT has rejected the plea of a three-month moratorium against any legal proceedings by any party against the stressed infrastructure financier and it.....

Tags : NCLT, IL&FS

SC: NCLT Can’t Exercise Parallel Jurisdiction With SEBI for Addressing Violations of SEBI Regulation(05.01.2023)

Supreme Court has held that National Company Law Tribunal (NCLT) cannot exercise a parallel jurisdiction with Securities and Exchange Board of India (.....

Tags : Supreme Court, NCLT, Parallel Jurisdiction, SEBI

NCLT Dismisses HDFC Plea for Initiating Proceedings Against RHC Holding(07.12.2018)

National Company Law Tribunal (NCLT) has dismissed the plea of HDFC Ltd to initiate insolvency proceedings against RHC Holding, a non-banking financia.....

Tags : NCLT, HDFC, RHC Holding

NCLT Rejects Jaypee buyers Plea in Plan to Shore Up Votes for NBCC bid(06.06.2019)

National Company Law Tribunal (NCLT) has dismissed a plea by a group of homebuyers to treat them as a separate sub-class of creditors at Committee of .....

Tags : NCLT, NBCC

NCLT: ROC Cannot Strike Off Company when Insolvency Process is Pending(20.11.2019)

National Company Law Tribunal, Ahmedabad has ruled that Registrar of Companies cannot strike off the name of a company during Corporate Interim Resolu.....

Tags : NCLT, Insolvency

NCLT Extends Jet Airways' Insolvency Resolution by 90 Days as Bidders Seek Time(23.12.2019)

National Company Law Tribunal has approved extension of Jet Airways insolvency resolution period by 90 days. The Committee of Creditors sought extensi.....

Tags : NCLT, Jet Airways

Central Government Sets Up NCLT Bench in Jaipur Effective July(02.07.2018)

Central Government has notified that a Bench of National Company Law Tribunal will be set up in Jaipur which will be effective from July this year.

Tags : Central Government, NCLT

Calcutta High Court: All Proceedings Under Companies Act 1956 Stands Transferred To NCLT(10.09.2018)

Calcutta High Court has held that HC has lost jurisdiction from 15th December 2016 to entertain all proceedings under Companies Act, 1956 and the same.....

Tags : Calcutta High Court, NCLT, Companies Act, 1956

NCLT Allows Former Directors of IL&FS to Withdraw Rs. 2 Lakh Per Month(21.01.2019)

National Company Law Tribunal (NCLT) has allowed the former directors of IL&FS Group to withdraw Rs. 2 lakh each per month from one of their bank acco.....

Tags : NCLT, IL&FS

Sterling Biotech RP for Failing to Discharge Duty: NCLT(16.04.2019)

National Company Law Tribunal rebuke resolution professional for failing to discharge his duties, asked to submit an explanation why he didn’t opt for.....

Tags : NCLT, Sterling Biotech

SC: Adj. Authority Has Power to Recall Order Approving RP Which Isn’t Submitted As Per IBC(14.02.2024)

Supreme Court has held that National Company Law Tribunal has the power under Insolvency and Bankruptcy Code, 2016 (IBC) to recall its order approving.....

Tags : Supreme Court, NCLT, Resolution Plan, Insolvency and Bankruptcy Code

NCLT Dismisses Cyrus Mistry’s Plea Against Removal as Tata Sons Chairman(09.07.2018)

National Company Law Tribunal (NCLT), Mumbai has dismissed Cyrus Mistry's petition against Tata Group with respect to his removal as Tata Sons chairma.....

Tags : NCLT, Cyrus Mistry

Tata Sons vs Cyrus Mistry Case: NCLAT Questions Language of NCLT Judgment(09.08.2018)

National Company Law Appellate Tribunal (NCLAT) has questioned if the National Company Law Tribunal's (NCLT's) Mumbai Bench had written a biased order.....

Tags : NCLT, Cyrus Mistry

Section 29A Ineligibility Doesn't Apply to Ongoing Insolvency Proceedings: NCLT(11.06.2018)

National Company Law Tribunal (NCLT) has ruled that Section 29A ineligibility under Insolvency and Bankruptcy Code (IBC) doesn’t apply to ongoing inso.....

Tags : NCLT, Insolvency

No Legal Bar on Indian LLP Merging With Indian Firm, Says NCLT(17.07.2018)

National Company Law Tribunal has said that legislative intent behind enacting both the LLP Act, 2008 and the Companies Act, 2013 is to facilitate the.....

Tags : NCLT, LLP

NCLT Rejects MTR Charge Against Maiyas(15.05.2019)

NCLT Bengaluru has quashed MTR Foods' charge against Maiyas Beverages and Foods that the latter fraudulently sold its restaurants subsidiary in an und.....

Tags : NCLT, MTR

NCLT Gives Approval to Liquidate S Kumars(24.06.2019)

National Company Law Tribunal (NCLT) has cleared a proposal to liquidate S Kumars after its lenders failed to receive any viable revival plan for the.....

Tags : NCLT, S Kumars

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.....

Tags : NCLAT, NCLT

NCLT Clears BRS Ventures’ Resolution Plan for Assam Company(21.09.2018)

Guwahati bench of NCLT has approved the resolution plan of Abu Dhabi-based BRS Ventures Investment Ltd. run by BR Shetty for Assam Company India Ltd.

Tags : NCLT, BRS Ventures

NCLT Admits Venugopal Dhoot’s Plea to Consolidate Insolvency Cases(15.10.2018)

NCLT has decided to entertain a plea by Videocon Group founder Venugopal Dhoot seeking to consolidate separate insolvency proceedings initiated by len.....

Tags : NCLT, Videocon

SC: NCLT Can’t Exercise Parallel Jurisdiction With SEBI for Addressing Violations of SEBI Regulation(05.01.2023)

Supreme Court has held that National Company Law Tribunal (NCLT) cannot exercise a parallel jurisdiction with Securities and Exchange Board of India (.....

Tags : Supreme Court, NCLT, Parallel Jurisdiction, SEBI

NCLAT Upholds MCA's Move to Freeze Assets of Independent Directors in PNB Fraud Case(13.07.2018)

National Company Law Appellate Tribunal (NCLAT) has upheld Ministry of Corporate Affairs' plea to freeze assets of independent directors of companies .....

Tags : NCLT, PNB Fraud Case

RBI Cuts Provisioning Norm for Advances to Large Accounts Now Before NCLT(05.04.2018)

Reserve Bank of India has reduced the provisioning requirement for large accounts referred to the National Company Law Tribunal (NCLT) up to March 31,.....

Tags : RBI, NCLT

NCLT Extends Insolvency Resolution Period of Ruchi Soya(11.06.2018)

Mumbai bench of National Company Law Tribunal (NCLT) has extended the deadline for the resolution process of Ruchi Soya Ltd by 90 days.

Tags : NCLT, Insolvency

NCLT Grants Gail India Status of Operational Creditor in Alok Industries Case(14.02.2019)

National Company Law Tribunal (NCLT) has accepted Gail India Ltd's plea to be treated as operational creditor in the textile player Alok Industries' i.....

Tags : NCLT, Alok Industries Case, Gail India

COMPANY - NCLT Approves Demerger of IIFL Group(15.03.2019)

National Company Law Tribunal (NCLT) has approved the proposed demerger of Fairfax-backed IIFL Group, which paves the way for listing of three entitie.....

Tags : NCLT, IIFL

NCLT Has Exclusive Jurisdiction to Try All Company Matters(30.05.2019)

National Company Law Appellate Tribunal/NCLAT has held that the National Company Law Tribunal has exclusive jurisdiction to try all matters under Comp.....

Tags : NCLT, Jurisdiction

De-registration of Jet Aircraft: NCLT Asks DGCA to Maintain Status Quo(06.07.2019)

After the airline was taken to bankruptcy tribunal last month,a Dutch cargo services provider, who seized the plane in April to recover dues, moved an.....

Tags : NCLT

Winding Up Proceedings Under SICA to Continue in HC and Not in NCLT : SC(13.12.2018)

Supreme Court has held that winding up proceedings under the Sick Industrial Companies (Special Provisions) Act, 1985 will continue in the High Court .....

Tags : Supreme Court, NCLT, SICA

NCLT Nullifies Attachment Notice Served by ED on Sterling Biotech Ltd.(15.02.2019)

National Company Law Tribunal (NCLT) has nullified attachment notice served by the Enforcement Directorate on Baroda-based Sterling Biotech Ltd. and s.....

Tags : NCLT, Sterling Biotech Ltd

NCLT Orders Liquidation of Kamineni Steel and Power(29.10.2018)

National Company Law Tribunal has ordered liquidation of Kamineni Steel and Power India and also appointed R Ramakrishna Gupta as liquidator.

Tags : NCLT, Kamineni Steel and Power

INSOLVENCY - NCLT Admits Bank of India’s Insolvency Plea Against Shrenuj & Co(28.03.2019)

National Company Law Tribunal (NCLT) has admitted insolvency plea against Shrenuj & Co, the century-old diamond house that had the late Maharani Gayat.....

Tags : NCLT, Shrenuj & Co

NCLT Orders Liquidation of ABG Shipyard(29.04.2019)

National Company Law Tribunal (NCLT) has ordered liquidation of ABG Shipyard despite protests from sole bidder Liberty House that claimed its offer fo.....

Tags : NCLT, ABG Shipyard

SC Directs Centre to Complete Process of Reappointment of NCLT and NCLAT Members at Earliest(01.06.2021)

Supreme Court has directed the Central government to complete the process of reappointment of members of National Company Law Tribunal and National Co.....

Tags : Supreme Court, Reappointment of NCLT and NCLAT Members

SC Allows Future Retail Ltd to Approach Delhi HC to Seek Resumption of NCLT Proceedings(15.02.2022)

Supreme Court has granted liberty to the Future Retail Ltd to approach the Delhi High Court seeking permission for the continuation of the proceedings.....

Tags : Supreme Court, Resumption of NCLT Proceedings

NCLT Restores Jai Mahal Hotel Ownership to Gayatri Devi's Grandchildren(02.08.2018)

National Company Law Tribunal (NCLT) has restored the ownership of iconic Jai Mahal hotel in favour of grandchildren of late Maharani Gayatri Devi.

Tags : NCLT, Jai Mahal Hotel

NCLT Orders Liquidation of Rathna Stores Pvt. Ltd.(08.10.2018)

National Company Law Tribunal (NCLT) has ordered liquidation of Rathna Stores Pvt Ltd., order came after after a committee of lenders failed to find b.....

Tags : NCLT, Rathna Stores Pvt. Ltd.

INSOLVENCY - NCLT Approves RIL-JM Financial ARC's Rs. 5000 cr Bid for Alok Industries(11.03.2019)

National Company Law Tribunal (NCLT) Ahmedabad has approved joint bid by Reliance Industries Ltd-JM Financial Asset Reconstruction Co. Ltd. for insolv.....

Tags : NCLT, Alok Industries, Reliance Industries Ltd-JM Financial Asset Reconstruction Co. Ltd.

NCLT Nod to Tata Communications Land Demerger into Hemisphere Properties India(13.07.2018)

National Company Law Tribunal (NCLT) has approved a scheme to de-merge surplus land of nearly 773 acres from Tata Communications Ltd. (TCL) into Hemis.....

Tags : NCLT, Tata Communications

NCLT Bars Jignesh Shah, Nine Others from Being Directors in Companies(11.06.2018)

National Company Law Tribunal (NCLT) has barred Jignesh Shah and nine others from holding directorship in 63 Moons Technologies as well as any other c.....

Tags : NCLT, Insolvency

NCLT Directs Bandhan Bank to Seek Shareholders’ Nod(24.06.2019)

National Company Law Tribunal (NCLT) has directed Bandhan Bank to convene a meeting of its equity shareholders to approve the proposed merger with Gr.....

Tags : NCLT, Bandhan Bank

NCLT Directs Liquidation of Adhunik Metaliks, Zion Steel(09.07.2019)

National Company Law Tribunal (NCLT) Cuttack Bench has ordered Kolkata-based Adhunik Metaliks and Zion Steel to be liquidated after Liberty House fail.....

Tags : NCLT, Adhunik Metaliks

NCLT to Deccan Chronicle RP: Refer Srei Arm's Revised Proposal to CoC(07.08.2018)

Hyderabad bench of National Company Law Tribunal has directed the resolution professional (RP) of Deccan Chronicle Holdings Limited (DCHL) to place th.....

Tags : NCLT, Deccan Chronicle

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

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

NCLT Refuses to Stay Voting by Creditors of Jaypee Infra(15.05.2019)

NCLT has cleared the way for voting by Committee of Creditors of Jaypee Infratech in which the lenders are set to decide on NBCC India’s offer for the.....

Tags : NCLT, Jaypee Infra

SC to Centre: File Committee Resolutions on NCLT Members' Tenure on Affidavit(17.06.2022)

Supreme Court has directed Centre to make public the decision taken by the CJI-led Committee on the issue of extending tenure of 23 National Company L.....

Tags : Supreme Court, NCLT, Tenure

NCLT Orders Reid & Taylor Liquidation(06.02.2019)

National Company Law Tribunal (NCLT) has ordered liquidation of apparel maker Reid & Taylor (R&T) after none of the suitors to company were able to ga.....

Tags : NCLT, Reid & Taylor

INSOLVENCY - 51% COC Vote Enough for Forensic Audit of Corporate Debtor: NCLT(08.03.2019)

National Company Law Tribunal (NCLT) has clarified that 51 per cent vote of the Committee of Creditors (CoC) is enough to initiate a forensic audit of.....

Tags : NCLT, Forensic Audit, Corporate Debtor

INSOLVENCY - NCLT Seeks Views on Sterling Biotech Promoters’ Offer(15.03.2019)

National Company Law Tribunal (NCLT) has directed government, regulators, and investigation agencies to clear their stand before dedicated bankruptcy .....

Tags : NCLT, Sterling Biotech Promoters

NCLT Principal Bench Directs to Move Videocon Insolvency Pleas to One Court(25.10.2018)

National Company Law Tribunal (NCLT) has directed to transfer all insolvency petitions related to Videocon group being heard in Mumbai courts to a sin.....

Tags : NCLT, Videocon

NCLT Slams Lenders of Sterling SEZ(26.04.2019)

National Company Law Tribunal has slammed lenders of Sterling SEZ & Infrastructure and asked them to explain why it should not order an inquiry into t.....

Tags : NCLT, Sterling SEZ

NCLT Sets 90-day Deadline for Jet Airways Bankruptcy Resolution(21.06.2019)

National Company Law Tribunal (NCLT) while admitting insolvency petition moved by State Bank of India against Jet Airways has instructed that the reso.....

Tags : National Company Law Tribunal, NCLT, Jet Airways

NCLT Admits Union Bank of India’s Insolvency Plea Against Era Infra(09.05.2018)

National Company Law Tribunal (NCLT) principal bench has admitted Union Bank of India’s (UBI’s) plea seeking initiation of insolvency proceedings agai.....

Tags : NCLT, Insolvency

NCLT Slams Sterling Biotech Resolution Professional for Failing to Discharge Duty(16.04.2019)

National Company Law Tribunal (NCLT) has reprimanded resolution professional of Sterling Biotech for failing to discharge his duties and has asked him.....

Tags : NCLT, Sterling Biotech

IL&FS Case: NCLT Permits MCA to Prosecute Deloitte Haskins, BSR Associates(19.07.2019)

National Company Law Tribunal (NCLT) has permitted the Ministry of Corporate Affairs (MCA) to prosecute the auditors of IL&FS Financial Services (IFIN.....

Tags : NCLT, IL&FS Case

NCLT Initiates Insolvency Proceedings Against Nirmal Lifestyle (Kalyan) Pvt. Ltd.(22.06.2022)

National Company Law Tribunal (NCLT), Mumbai Bench has initiated Corporate Insolvency Resolution Process against Nirmal Lifestyle (Kalyan) Pvt. Ltd. a.....

Tags : NCLT, Corporate Insolvency Resolution Process

SC Allows NCLT Ahmedabad to Decide Essar Steel Insolvency Case(12.02.2019)

Supreme Court has dismissed a plea by operational creditors of Essar Steel, including Indian Oil Corporation (IOC), which had sought a stay in insolve.....

Tags : Supreme Court, NCLT, Essar Steel

INSOLVENCY - NCLT Seeks Views on Sterling Biotech Promoters’ Offer(15.03.2019)

National Company Law Tribunal (NCLT) has directed government, regulators, and investigation agencies to clear their stand before dedicated bankruptcy .....

Tags : NCLT, Sterling Biotech Promoters

INSOLVENCY - NCLT Clears ArcelorMittal's Resolution Plan for Essar Steel(11.03.2019)

National Company Law Tribunal (NCLT) has approved ArcelorMittal's Rs 42,000-crore takeover bid for Essar Steel.

Tags : NCLT, ArcelorMittal, Essar Steel

NCLT Clears Appointment of Nanavati of Deloitte as RP for Reliance Communications(24.06.2019)

National Company Law Tribunal (NCLT) has cleared the appointment of Anish Nanavaty of Deloitte as the Resolution Professional (RP) for Reliance Commun.....

Tags : NCLT, Reliance Communications

High Court can intervene if NCLT passes order in matter relating to Public Law(03.12.2019)

Two seminal questions of importance raised in present matter is whether the High Court ought to interfere, under Article 226/227 of the Constitution o.....

Tags : NCLT, Jurisdiction, Public law

NCLT Approves JK Paper's Rs 371 cr Bid for Sirpur Paper Mills(23.07.2018)

NCLT has approved JK Paper's Rs 371 crore bid for debt-ridden Sirpur Paper Mills under the insolvency resolution process.

Tags : NCLT, Insolvency

NCLT Approves Resolution Plan for Amit Spinning Industries(01.08.2018)

National Company Law Tribunal (NCLT) has approved the resolution plan as submitted by Deepak Chaganlal Choudhari and Jitendra Kumar Chopra for Amit Sp.....

Tags : NCLT, Insolvency

NGT Directs Action Against Udaipur Hotels Over Noise Pollution(05.10.2018)

NGT has asked Rajasthan State Pollution Control Board and Udaipur district administration to take action into the allegations of noise pollution cause.....

Tags : NCLT, Udaipur Hotels

SC to Centre: Term of Future NCLT Members Should be 5 Years(02.08.2022)

Supreme Court has turned down plea seeking modification of tenure of members of National Company Law Tribunal (NCLT) appointed pursuant to notificatio.....

Tags : Supreme Court, NCLT, Tenure

NCLT Clears Way for Liquidation of Moser Baer India(25.09.2018)

National Company Law Tribunal has allowed insolvency proceedings against debt-ridden Moser Baer India, a manufacturer of CDs and DVDs.

Tags : NCLT, Moser Baer India

NCLT Clears Scheme of Demerger of Branded Apparel and Engineering Businesses of Arvind(29.10.2018)

National Company Law Tribunal has approved the scheme of demerger of branded apparel and engineering businesses of Arvind into two entities.

Tags : NCLT, Arvind

INSOLVENCY - NCLT Approves Revised Resolution Plan for Jyoti Structures(28.03.2019)

National Company Law Tribunal (NCLT) has approved the resolution plan for Jyoti Structures presented by the Resolution Professional on behalf of a gro.....

Tags : National Company Law Tribunal, NCLT, Jyoti Structures, Sharad Sanghi

IDBI, Lead Lender of Jaypee Infratech Approaches National Company Law Tribunal Seeking Extension(30.04.2019)

Earlier, the NCLT had granted extension to the lenders and Interim Resolution Professional Anuj Jain to complete the CIRP.

Tags : NCLT

NCLT Notice To Jaiprakash Associates Over ICICI Bank Claim of Rs 12 Billion Dues(11.09.2018)

Allahabad bench of NCLT has issued a notice to Jaiprakash Associates in an insolvency case initiated by ICICI Bank.

Tags : NCLT, Jaiprakash Associates

NCLT Bench Clears Airtel-Tata Deal(22.01.2019)

National Company Law Tribunal (NCLT) has approved Bharti Airtel’s acquisition of Tata Teleservices’ consumer mobility business.

Tags : NCLT, Airtel-Tata Deal

NCLT Allahabad Extends Resolution Time for Jaypee Infratech(07.05.2019)

National Company Law Tribunal, Allahabad has directed that the corporate insolvency resolution process in the Jaypee Infratech matter continue until M.....

Tags : NCLT Allahabad, Jaypee Infratech

NCLT Grants Immunity to New IL&FS Board(11.10.2018)

National Company Law Tribunal has empowered newly appointed board of the debt-laden Infrastructure Leasing & Financial Services as the court has debar.....

Tags : NCLT, IL&FS

NCLT Consults Centre, Bankruptcy Board to Resolve Jaypee Infra Deadlock(22.04.2019)

National Company Law Tribunal’s (NCLT) has sought views from government and Insolvency and Bankruptcy Board of India (IBBI) on ways to resolve the dea.....

Tags : NCLT, Jaypee Infratech

National Company Law Tribunal Clears Airtel's Tikona Buy(11.07.2018)

National Company Law Tribunal (NCLT) has given its nod to the merger of Bharti Digital Networks (formerly called Tikona Digital Networks) with Bharti .....

Tags : NCLT, Bharti Airtel

NCLT Clears Sterling SEZ's One-Time Settlement Offer(12.04.2019)

National Company Law Tribunal (NCLT) has cleared a controversial proposal by public sector banks to withdraw bankruptcy proceedings against Sterling S.....

Tags : NCLT. Sterling

NCLT Extends Insolvency Resolution Period of Bhushan Energy(11.06.2018)

National Company Law Tribunal (NCLT) has extended the insolvency resolution period of the debt ridden firm Bhushan Energy Ltd by another 90 days.

Tags : NCLT, Insolvency

Former MD of Omaxe Gets NCLT Nod to Inspect Omaxe Records(21.11.2018)

National Company Law Tribunal has directed Guild Builders, the holding company of Omaxe, to allow former Omaxe MD Sunil Goel to inspect the records/re.....

Tags : nclt, Omaxe, Sunil Goel, Omaxe

INSOLVENCY - NCLT Sees Violation of Sec 29(A) of IBC in Sterling Biotech Case(29.03.2019)

National Company Law Tribunal (NCLT) in Sterling Biotech case for second time has questioned motive of lenders, led by Andhra Bank to withdraw their b.....

Tags : NCLT, Sterling Biotech

NCLT Orders Insolvency Proceedings Against Karur KCP Packkagings(30.04.2019)

National Company Law Tribunal (NCLT) has ordered insolvency process against Tamil Nadu-based publicly-listed packaging company Karur KCP Packkagings o.....

Tags : NCLT, KCP Packkagings, Karur Vysya Bank

NCLT Rejects ArcelorMittal’s Plea for EPC Re-Vote(22.04.2019)

National Company Law Tribunal (NCLT) has rejected Arcelor-Mittal India’s plea to set aside the resolution plan submitted by Royale Partners Investment.....

Tags : NCLT, ArcelorMittal

NCLT Directs Lenders to Consider Paying One-Month Salary to Jet Staff(24.07.2019)

National Company Law Tribunal (NCLT) Mumbai Bench has directed the Interim Resolution Professional (IRP) of Jet Airways to discuss the salary issue wi.....

Tags : NCLT, Jet Staff

Rajasthan High Court Issues Notice on Plea Against Denial of Physical Hearing by NCLT Jaipur Bench(13.12.2021)

Rajasthan High Court has issued notice to the Jaipur Bench of the National Company Law Tribunal (NCLT) while adjudicating upon an appeal against an or.....

Tags : Rajasthan High Court, Denial of Physical Hearing by NCLT Jaipur Bench

NCLT Allows Two New Bidders Of Bharati Defence To Submit Plans(13.09.2018)

NCLT has asked ARCS Ship Build Services and Hong Kong-based investor Ricky Nathaniel to join the insolvency resolution process of Bharati Defence and .....

Tags : NCLT, Sunil Kumar

INSOLVENCY - Essar Steel Insolvency: NCLT Rejects RIL's Plea Opposing Arcelor Bid(27.02.2019)

National Company Law Tribunal (NCLT), Ahmedabad has rejected Mukesh Ambani-led Reliance Industries Limited (RIL)'s plea opposing ArcelorMittal's Rs. 4.....

Tags : NCLT, Essar Steel Insolvency

NCLT Bench Clears Airtel-Tata Deal(22.01.2019)

National Company Law Tribunal (NCLT) has approved Bharti Airtel’s acquisition of Tata Teleservices’ consumer mobility business.

Tags : NCLT, Airtel-Tata Deal

Delhi HC Asks Centre, Delhi Govt to Collectively Resolve Issues of 99-yr-old Dilapidated School(07.05.2019)

Delhi High Court has asked the Centre and Delhi Government to collectively resolve the issue of allotment of an alternative land for construction of n.....

Tags : NCLT Allahabad, Jaypee Infratech

NCLT Attaches Properties of 9 Former IL&FS Directors(04.12.2018)

National Company Law Tribunal (NCLT) has passed an interim order to attach all movable and immovable properties of nine former directors of IL&FS.

Tags : NCLT, IL&FS

INSOLVENCY-Workmen's Dues of Pension, Gratuity, PF Not Included in Liquidation Assets of Debtor: NCLT(26.03.2019)

National Company Law Tribunal has ruled that dues of provident fund, pension and gratuity do not form part of liquidation estate of corporate debtor a.....

Tags : National Company Law Tribunal, NCLT

NCLT Directs Kwality Lenders to Reconsider Haldiram's Rs 145-Cr Revised Offer(18.11.2019)

National Company Law Tribunal has directed the lenders of Kwality Ltd to reconsider the revised Rs 145-crore offer by Haldiram Snacks to acquire the d.....

Tags : NCLT, Kwality

NCLT Directs Jet Airways' Committee of Creditors to Distribute Interim Funding Within 15 Days(26.09.2019)

National Company Law Tribunal (NCLT) has directed Jet Airways' Committee of Creditors (CoC) to distribute interim funding within 15 days. The Resoluti.....

Tags : NCLT, Jet Airways

NCLAT Extends Deadline for NCLT Ahmedabad to Decide on Essar Steel Insolvency Case(12.02.2019)

National Company Law Appellate Tribunal (NCLAT) has extended the deadline for NCLT Ahmedabad to decide over Rs. 42,000 crore resolution plan submitted.....

Tags : NCLT, Essar Steel

COMPANY - Government Approves Establishment of NCLT Benches in Andhra Pradesh and Madhya Pradesh(11.03.2019)

Government has approved establishment of two new benches of National Company Law Tribunal (NCLT), one at Amaravati in Andhra Pradesh and the other at .....

Tags : NCLT, New Benches, Andhra Pradesh, Madhya Pradesh

INSOLVENCY - Sterling Biotech: NCLT Slams Andhra Bank over OTS Proposal(15.03.2019)

National Company Law Tribunal (NCLT) has pulled up Andhra Bank for accepting a 'One Time Settelement' (OTS) offer from absconding promoters of Gujarat.....

Tags : NCLT, Sterling Biotech Promoters, Andhra Bnak

NCLT to SEBI: Conclude Probe Into Complaints Against Hotel Leela by July 8(29.05.2019)

NCLT has directed Securities and Exchange Board of India (SEBI) to conclude its probe into complaints against Hotel Leelaventure by the firms's minori.....

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Transaction Can’t Be Treated As Bogus Merely Based On Report Of Investigation Wing: ITAT(13.09.2018)

Jaipur bench of ITAT has held that a transaction cannot be treated as bogus only on the basis of the report of Investigation Wing.

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INSOLVENCY - NCLT Rejects Essar Steel's Operational Creditors Plea Against Arcelor's Bid(01.03.2019)

National Company Law Tribunal (NCLT)-Ahmedabad has rejected debt-laden Essar Steel India’s (ESIL’s) operational creditors (OCs) plea against ArcelorMi.....

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SC Extends Term of BSV Prakash Kumar as NCLT Delhi Acting President Till Regular Appointment(10.12.2020)

Supreme Court has extended the appointment of Mr.B.S.V.Prakash Kumar,Member (Judicial) as acting President of National Company Law Tribunal (NCLT), Ne.....

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NCLT Dismisses ICICI's Plea to Start Insolvency Proceedings Against Era Infra(13.05.2019)

National Company Law Tribunal has dismissed ICICI Bank's plea to initiate insolvency proceedings against Era Infrastructure (India) Ltd on the grounds.....

Tags : NCLT, ICICI

NCLT Dissolves Orchid Pharma Promoter Firm(02.01.2020)

National Companies Law Tribunal has dissolved Orchid Healthcare Pvt. Ltd, promoter entity of Orchid Pharma, saying that here there are no assets and a.....

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Publication of Homebuyers’ Names in List of Creditors will Not Violate Privacy: NCLT(13.12.2018)

National Company Law Tribunal has held that disclosure of the names of homebuyers in the list of creditors will not result in violation of privacy.

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NCLT: Appointing New Directors Without Consent of Petitioner Shareholders Amounts to 'Oppression'(30.05.2017)

NCLT has held that increasing authorised share capital of company, appointing additional directors and transferring shares to non-members without noti.....

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Pending Companies Act Matters to be Transferred to NCLT(12.12.2016)

MCA has issued a notification stating that pending proceedings under the Companies Act with a few exceptions shall be transferred from the district an.....

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INSOLVENCY - NCLAT Sets Aside Jyoti Structures Liquidation(25.03.2019)

National Company Law Appellate Tribunal (NCLAT) has set aside the order to liquidate Jyoti Structure and asked the Mumbai bench of NCLT to consider th.....

Tags : National Company Law Appellate Tribunal, Jyoti Structure, Sharad Sanghi, NCLT

NCLT Directs to Start Insolvency Proceedings Against AVP Buildtech(11.11.2019)

National Company Law Tribunal has directed to initiate insolvency proceedings against Delhi-based real estate firm AVP Buildtech Ltd by admitting a pl.....

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NCLT Asks DHFL Administrator to Place Kapil Wadhawan's Offer Before CoC(20.05.2021)

National Company Law Tribunal (NCLT) Mumbai Bench has asked the administrator of Dewan Housing Finance (DHFL) to place the offer of erstwhile promoter.....

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NCLT Orders Metalyst Forgings Rebid(09.10.2019)

National Company Law Tribunal’s (NCLT) Mumbai bench has ordered a fresh round of bidding for stressed auto forgings company Metalyst Forgings after fi.....

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NCLT: Homebuyer Who Subrogated All Rights in Favour of Bank Cannot Be Treated As Creditor Under IBC(06.08.2018)

Allahabad bench of National Company Law Tribunal has held that a homebuyer who subrogated all his rights in favour of the bank at the time of taking l.....

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NCLT Directs Insolvency Proceedings Against Madhucon Projects(10.10.2018)

National Company Law Tribunal has admitted a petition to initiate corporate insolvency proceedings against Madhucon Projects Limited and appointed an .....

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NCLT: Issue of Post Dated Cheques is Not Unqualified Admission of Debt(15.06.2022)

National Company Law Tribunal (NCLT), Allahabad Bench has held that issuance of post dated cheques cannot be taken to be unqualified admission of debt.....

Tags : NCLT, Negotiable Instruments Act, Post Dated Cheques

INSOLVENCY - NCLT Rejects Karur Vysya Bank’s Plea Against ArcelorMittal Plan for Essar Steel(08.03.2019)

National Company Law Tribunal has rejected Karur Vysya Bank’s plea to quash Rs 42,000-crore resolution plan of ArcelorMittal for distressed Essar Stee.....

Tags : NCLT, Essar Steel, Karur Vysya Bank

INSOLVENCY - NCLT Questions Sterling Biotech Lenders on Accepting Deal from Promoters(14.03.2019)

National Company Law Tribunal (NCLT) has asked lenders of Sterling Biotech how they accepted the one-time settlement (OTS) offer from the promoters of.....

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INSOLVENCY - NCLT Allows Fresh Bids for Castex as Liberty Fails to Pay(19.03.2019)

National Company Law Tribunal has allowed fresh bids for Amtek Auto's distressed unit Castex Technologies, with the winning bidder Liberty House faili.....

Tags : NCLT, Castex, Amtek Auto

NCLT Allows Hotel Leelaventure Two Months to Comply with New SEBI Directives(26.07.2019)

National Company Law Tribunal (NCLT) has allowed Hotel Leelaventure two months time from NCLT to comply with the latest SEBI directives asking the hos.....

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Supreme Court Stays NCLT Order, Puts Govt Takeover of Unitech on Hold(13.12.2017)

The government conceded it should not have approached the National Company Law Tribunal (NCLT). On Tuesday, the SC had said NCLT should have taken its.....

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NCLT Dismisses IL&FS Financial Services Auditors' Plea Challenging 5-Year Ban(12.08.2019)

National Company Law Tribunal (NCLT), Mumbai has dismissed an appeal of former auditors of IL&FS Financial Services (IFIN) — Deloitte Haskins & Sells .....

Tags : NCLT, IL & FS

NCLT Stays its Own Order to Implead IL&FS Auditors(26.07.2019)

National Company Law Tribunal Thursday (NCLT) has stayed its own order allowing the Government to prosecute the three partners of Deloitte and BSR Ass.....

Tags : NCLT, IL&FS

Gujarat High Court Issues Notice To Challenge To Minimum Age Criteria For NCLT Appointments(18.11.2021)

Gujarat High Court has issued a notice in a plea challenging vires of Section 413(2) of Companies Act, 2013 that imposes a minimum age limitation of n.....

Tags : Gujarat HC, NCLT Appointments

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

NCLT Gives Nod to Bharti Infratel and Indus Towers Merger(03.06.2019)

National Company Law Tribunal Chandigarh has approved the merger of Indus Towers with Bharti Infratel which will create one of the largest telecom tow.....

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NCLAT Dismisses PepsiCo Plea for Release of Machinery from Oceanic Tropical(18.11.2019)

National Company Law Appellate Tribunal has dismissed the plea of beverages giant Pepsico India Holdings seeking release of its machinery from Oceanic.....

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NCLT Directs Ruchi Soya to Study Impact of Revised NCLAT Order on Essar Steel(10.07.2019)

National Company Law Tribunal (NCLT) Mumbai has directed the resolution professional of Ruchi Soya to find out whether the appellate tribunal National.....

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Binani Cement Case: NCLAT Directs Dalmia Bharat to Reply to UltraTech(08.08.2018)

National Company Law Appellate Tribunal (NCLAT) has directed Rajputana Properties Pvt. Ltd to file a rejoinder to the queries raised by UltraTech Ceme.....

Tags : NCLT, Insolvency

Kerala HC: Writ Petition Under Article 226 Against NCLT Order Not Maintainable(25.09.2020)

Kerala High Court has held that writ jurisdiction under Article 226 cannot be invoked to challenge an order passed by the National Company Law Tribuna.....

Tags : Kerala High Court, Challenge to Order of NCLT

NCLT Orders Liquidation of Nagarjuna Oil Corporation(13.12.2018)

National Company Law Tribunal, after multiple failed bids, has ordered liquidation of Nagarjuna Oil Corporation (NOCL), which is an associate firm of .....

Tags : NCLT, Nagarjuna Oil Corp

Corporate Debtor can Withdraw Application Filed Under IBC on Making OTS Offer to Creditor : NCLT(28.01.2019)

NCLT has allowed the a corporate debtor to withdraw petition for its insolvency, though with costs, besides allowing ex-director of corporate debtor t.....

Tags : NCLT, Corporate Debtor can Withdraw Application Filed Under IBC

NCLT Approves First Resolution Plan in Realty(18.06.2019)

National Company Law Tribunal (NCLT) Chennai Bench has accepted a resolution plan of Oasis Grace Engineering Projects for Vishwakarma Real Estates and.....

Tags : NCLT, Realty

NCLT Admits Insolvency Petition Against Provogue(03.08.2018)

Mumbai bench of National Company Law Tribunal has admitted Provogue (India) Ltd for insolvency resolution, making it the fourth company from the texti.....

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NCLT Directs Insolvency Proceedings Against Madhucon Projects(10.10.2018)

National Company Law Tribunal has admitted a petition to initiate corporate insolvency proceedings against Madhucon Projects Limited and appointed an .....

Tags : NCLT, Madhucon Projects

NCLT Orders Insolvency Proceedings Against Empee Distilleries(12.11.2018)

National Company Law Tribunal has ordered starting of Corporate Insolvency Resolution Process against liquor manufacturing company Empee Distilleries.....

Tags : NCLT, Empee Distilleries

INSOLVENCY - NCLT Admits ICICI Bank's Insolvency Plea Against Punj Lloyd(11.03.2019)

National Company Law Tribunal (NCLT) has admitted an insolvency plea against Punj Lloyd filed by ICICI Bank Ltd. for a default of Rs. 853.83 crore.

Tags : NCLT, Punj Lloyd, ICICI Bank

NCLT Allows IL&FS to Sell 51% in Wind Units to Japanese Investor(29.08.2019)

National Company Law Tribunal (NCLT) has approved the sale of the wind energy assets of IL&FS to Japan’s Orix Corp, one of the original investors in t.....

Tags : NCLT, Japanese Investor

NCLT Allows Consolidation of 13 Videocon Units Insolvency(09.08.2019)

National Company Law Tribunal (NCLT) has given the go-ahead for consolidating the insolvency proceedings of 13 Videocon group firms into a single proc.....

Tags : NCLT, Videocon

Supreme Court: High Court can Intervene if NCLT Passes Order in Matter Relating to Public Law(04.12.2019)

Supreme Court has ruled that the High Court can exercise its power under Article 226 of Constitution of India if National Company Law Tribunal has pas.....

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NCLT Admits SFIO Plea to Wind Up IBMA(14.02.2019)

National Company Law Tribunal has admitted Serious Fraud Investigation Office (SFIO) petitions for winding up the Indian Bullion Market Association (I.....

Tags : NCLT, SFIO, IBMA

CRIMINAL - NCLT Approves Demerger of IIFL Group into 3 Entities(15.03.2019)

National Company Law Tribunal (NCLT) has approved the proposed demerger of Fairfax-backed IIFL Group, which paves the way for listing of three entitie.....

Tags : NCLT, IIFL

Jaypee Infratech Jumps 5% on Getting Fresh Bid From Adani Group(30.05.2019)

Jaypee Infratech, a subsidiary of Jaypee groupâ€™s flagship firm Jaiprakash Associates, went into insolvency process in August 2017 after the NCLT ad.....

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NCLT Approves Transfer of Airtel's Optical Fibre Cable Business to Telesonic Networks(04.07.2019)

National Company Law Tribunal has approved a scheme of arrangement involving transfer of optical fibre cable business undertaking of Bharti Airtel to .....

Tags : NCLT, Airtel, Telesonic Networks

NCLT Directs Status Quo over RHC Holdings(07.09.2018)

NCLT has issued notices to Malvinder Mohan Singh and Sunil Godhwani and others, and directed them to maintain status quo over shareholdings and compos.....

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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

NCLT Orders Insolvency Proceedings for IDEB Projects(02.04.2019)

National Company Law Tribunal (NCLT) has ordered corporate insolvency resolution process for IDEB Projects, an engineering and construction firm that .....

Tags : NCLT, IDEB Projects

NCLT Admits Insolvency Plea Against Ariisto Developers(29.11.2018)

National Company Law Tribunal (NCLT) has admitted and initiated insolvency proceedings against Mumbai-based Ariisto Developers and has appointed an in.....

Tags : NCLT, Ariisto Developers

NCLT Rejects Edelweiss Bid for Bharati Defence(17.01.2019)

National Company Law Tribunal (NCLT) has ordered liquidation of Bharati Defence & Infrastructure Ltd. rejecting a resolution plan of Edelweiss Asset R.....

Tags : NCLT, Edelweiss, Bharati Defence

INSOLVENCY - NCLT Orders Commencement of Insolvency Process Against Orchid Pharma's Promoter Group Firm(29.03.2019)

National Company Law Tribunal (NCLT) has ordered commencement of corporate insolvency resolution process (CIRP) against Orchid Healthcare Private, a p.....

Tags : NCLT, Orchid Pharma's Promoter Group Firm

NCLT Rejects Maintainability Plea Filed by Kirloskar Bros(30.04.2019)

National Company Law Tribunal (NCLT) has given relief to brothers Rahul and Atul Kirloskar by dismissing the maintainability petition filed by their s.....

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NCLT Dismisses Wave's Insolvency Plea With Cost of One Crore(10.06.2022)

National Company Law Tribunal (NCLT) has dismissed the insolvency petition filed by Wave Megacity Centre Private Limited (Wave) under Section 10 of th.....

Tags : NCLT, Insolvency, WAVE

NCLT Admits Insolvency Plea Against Parsvnath Landmark Developers(14.01.2019)

National Company Law Tribunal (NCLT) has given its approval to start the insolvency proceedings against realty firm Parsvnath Developers subsidiary, w.....

Tags : NCLT, Parsvnath Landmark Developers

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

NCLT Allows Resolution Process of Amtek Auto(14.02.2019)

National Company Law Tribunal, Chandigarh bench, has allowed financial creditors of Amtek Auto Ltd. to start the resolution process from scratch, mor.....

Tags : NCLT, Amtek Auto

COMPANY - NCLT Imposes Fine of Rs. 1 Lakh on Carnival Films Entertainment for Giving Loan to Directors(18.03.2019)

National Company Law Tribunal (NCLT) has slapped a deterrent penalty on Carnival Films Entertainment for giving loans to its own directors in violatio.....

Tags : NCLT, Carnival Films Entertainment

NCLT Approves Tata Steel's Bid for Bhushan Energy(31.05.2019)

National Company Law Tribunal (NCLT) has approved Tata Steel’s nearly Rs 800-crore bid to acquire Energy. The NCLT, while approving this bid, also rej.....

Tags : NCLT, Tata Steel

NCLT Mumbai Directed to Pass Order on Videocon Cos Insolvency Plea(08.07.2019)

National Company Law Appellate Tribunal (NCLAT) has directed the NCLT Mumbai Bench to pass an order over the insolvency plea against 15 Videocon group.....

Tags : NCLT, Videocon

NCLT: Ministry of Corporate Affairs Should be Party in all IBC Proceedings(26.11.2019)

National Company Law Tribunal, Principal Bench has ruled that it will be mandatory to make Ministry of Corporate Affairs a party to all the cases unde.....

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Hyderabad High Court Stays NCLT Order Against Ramky Infrastructure(23.07.2018)

Hyderabad High Court has suspended a NCLT order to initiate insolvency proceedings against Ramky Infrastructure for non-payment of around Rs 1.27 cror.....

Tags : Hyderabad High Court, NCLT

NGT Directs Railways to Submit Action Plan on Cleanliness(05.10.2018)

NGT has directed the railways to submit an action plan for maintaining cleanliness on platforms and tracks and has asked the Comptroller and Auditor G.....

Tags : NCLT, Railway

NCLT Allows Reopening of IL&FS’s Past Accounts(02.01.2019)

National Company Law Tribunal (NCLT) has allowed the government to reopen and recast the accounts of Infrastructure Leasing and Financial Services Ltd.....

Tags : NCLT, IL&FS

Suspended Director of Corporate Debtor Not Entitled to Confidential Info Held by CoC/ RP: NCLT(08.08.2018)

Mumbai bench of National Company Law Tribunal (NCLT) has held that suspended director of a corporate debtor is not entitled to confidential informatio.....

Tags : NCLT, Insolvency

Binani Committee of Creditors Vote in Favour of UltraTech Offer(30.05.2018)

The Letter of Intent is unlikely to be issued immediately, as the CoC will submit its plan to the resolution professional (RP), who in turn will forwa.....

Tags : NCLT

Pay PF Dues Before Repaying Creditors, NCLT Tells Liquidator of Precision Fasteners(24.09.2018)

NCLT has ordered the resolution professional handling liquidation of Mumbai-based Precision Fasteners to pay up employee dues to provident fund organi.....

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NCLT: Transaction Cannot be Held as Fraudulent Without Proper Enquiry into Allegations(06.06.2022)

National Company Law Tribunal (NCLT), Kolkata Bench has held that a transaction cannot be alleged to be preferential, fraudulent or avoidable by the R.....

Tags : NCLT, IBC, Resolution Professional

NCLT Admits Bankruptcy Plea Against Noida-Based Realtor Granite Gate(11.01.2019)

National Company Law Tribunal (NCLT) has given nod to start insolvency proceedings against NCR-based real estate firm Granite Gate Properties, after h.....

Tags : NCLT, Granite Gate

NCLT Approves Vedanta's Resolution Plan for Insolvent Electrosteel(18.04.2018)

National Company Law Tribunal's (NCLT) has approved Vedanta Ltd's resolution plan for the insolvent Electrosteel Steels Ltd.

Tags : NCLT, Insolvency

NCLT: Guarantor is Entitled to Initiate CIRP Against Principal Borrower Under Right of Subrogation(30.06.2022)

National Company Law Tribunal (NCLT), Kolkata has held that if a Guarantor pays the debt on behalf of the Principal Borrower, then it steps into the s.....

Tags : NCLT, CIRP, Right of Subrogation

NCLT Approves Merger of Capital First with IDFC Bank(14.12.2018)

National Company Law Tribunal (NCLT) has approved the amalgamation of Capital First, Capital First Home Finance, and Capital First Securities with IDF.....

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NCLT Directs Police Assistance to Resolution Professional After Corporate Debtor Hinders CIRP(30.01.2019)

National Company Law Tribunal has directed Police Commissioner, Ahmedabad to provide police assistance to a resolution professional who complained abo.....

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SBI, 25 Other Bankers Take Jet Airways to NCLT Over Rs 8,500 Crore Dues; Hearing from Tomorrow(18.06.2019)

Jet Airways, started over 25 years ago by airline-ticketing-agent-turned-entrepreneur Naresh Goyal, stopped flying on April 17 after it ran out of cas.....

Tags : NCLT

NCLT Kolkata Rejects Resolution Plan of Dalmia Group for Binani Cement(03.05.2018)

NCLT Calcutta has directed the Committee of Creditors (CoC) to consider the revised offer from Ultra Tech within 3 days in the highly-contested insolv.....

Tags : NCLT Calcutta, Binani Cement

NCLT: Sole Proprietary Concern Cannot Start Insolvency Proceedings(11.10.2019)

National Company Law Tribunal Delhi has ruled that since a Sole Proprietary Concern is not a person under Section 3(23) of the Insolvency and Bankrupt.....

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NCLT Orders Liquidation of Lanco Infratech(28.08.2018)

Hyderabad bench of National Company Law Tribunal has ordered the liquidation of Lanco Infratech after the committee of creditors rejected the revised .....

Tags : NCLT, Lanco Infratech

Chit Fund Scam: NCLT Orders Winding up of 13 Saradha Group Companies(13.12.2018)

National Company Law Tribunal (NCLT) has ordered winding up of 13 companies of the now-defunct Saradha Group and official liquidator has also been dir.....

Tags : NCLT, Chit Fund Scam

NCLT Caps Withdrawal Limit from Banks for Former ILFS Directors(24.01.2019)

National Company Law Tribunal (NCLT) has put restrictions on the former directors of the debt-laden infrastructure financier IL&FS from operating thei.....

Tags : NCLT,, ILFS

NCLT Says 'No' to Withdrawal of Petition Even After Parties Proposed Settlement(01.06.2017)

NCLT has held that after admission of petition, it acquires character of representative suit wherein other creditors get a right to participate in ins.....

Tags : NCLT, Settlement

NCLT Approves Aion-JSW Steel Plan for Monnet Ispat(20.07.2018)

National Company Law Tribunal (NCLT) has given its approval for Monnet Ispat’s acquisition by the Aion Capital-JSW Steel consortium.

Tags : NCLT, Insolvency

NCLT Admits ICICI Bank's Insolvency Plea Against Mehul Choksi’s Gitanjali Gems(05.10.2018)

National Company Law Tribunal has admitted ICICI Bank's plea to begin insolvency proceedings against Mehul Choksi-owned Gitanjali Gems.

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NCLT Approves Liberty House's Plan for Acquiring Adhunik Metaliks(18.07.2018)

Kolkata bench of National Company Law Tribunal (NCLT) has approved the resolution plan of Britain-based Liberty House for acquiring debt-laden steelma.....

Tags : NCLT, Insolvency

NCLT Allows MCA to Supercede IL&FS Board(03.10.2018)

NCLT has allowed MCA to supercede IL&FS board with six new directors after the government moved a petition to remove the previous board of directors.

Tags : NCLT, IL&FS

Delhi HC to NCLT: Upload Orders in Expeditious Manner(03.03.2023)

Delhi High Court while considering nature of orders passed by tribunal, especially those by which moratorium is declared and IRPs are appointed, has d.....

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Any creditor of a company can seek transfer of winding up proceeding pending before a High Court to a National Company Law Tribunal(19.11.2020)

A financial creditor has come up with present appeal on being aggrieved by an order passed by the Company Court (High Court of Allahabad), refusing to.....

Tags : Pending proceedings, Transfer, NCLT

Essar Steel: NCLT Rejects Promoter Ruias’ Settlement Bid(30.01.2019)

National Company Law Tribunal (NCLT) has rejected the settlement offer by Essar Steel’s promoters, the Ruia family, paving the way for the acceptance .....

Tags : NCLT, Essar Steel

NCLT Slaps Fine on CaratLane for Companies Act Violation(23.04.2019)

National Company Law Tribunal (NCLT) has imposed a fine on CaratLane Trading Pvt. Ltd., a Tata Group company and subsidiary of Titan, for not constitu.....

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NCLT Instructs Liquidation of Moser Baer Solar(19.06.2019)

National Company Law Tribunal (NCLT) has ordered the liquidation of Moser Baer Solar, which is joining Moser Baer, the high-profile disc maker that me.....

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NCLT Admits Union Bank of India’s Insolvency Plea Against Era Infra(09.05.2018)

National Company Law Tribunal (NCLT) principal bench has admitted Union Bank of India’s (UBI’s) plea seeking initiation of insolvency proceedings agai.....

Tags : NCLT, Insolvency

NCLT nullifies attachment notice served by ED on Sterling Biotech Ltd(15.02.2019)

National Company Law Tribunal (NCLT) has nullified attachment notice served by the Enforcement Directorate on Baroda-based Sterling Biotech Ltd. and s.....

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NCLT Dismisses Liquidation on Failure by RP to Call for Bids(17.05.2018)

NCLT (Ahmedabad Bench) has rejected an application to liquidate a company under the moratorium on failure by the Resolution Professional (RP) and Comm.....

Tags : NCLT, Insolvency

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