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National Company Law Tribunal

Can Byju's pay salaries on time, clear employees' pending dues?

Can Byju's pay salaries on time, clear employees' pending dues?

Tue, May 28, 2024

The company is yet to pay the remaining salary dues of February and March to thousands of its employees, amid ongoing legal battles with investors and vendors.

NCLT admits insolvency plea against Coffee Day Global

NCLT admits insolvency plea against Coffee Day Global

Tue, Jul 25, 2023

The Bengaluru bench of the NCLT passed an order over a plea filed by a financial creditor of the company, claiming dues of Rs 94 crore, Coffee Day Enterprises Ltd, CDGL's parent company said in a regulatory filing.

NCLAT Upholds Go First's Insolvency Order, Lessors Asked To Move To NCLT

NCLAT Upholds Go First's Insolvency Order, Lessors Asked To Move To NCLT

Mon, May 22, 2023

In what came as a relief for Go First, the National Company Law Appellate Tribunal (NCLAT), on May 22, upheld the NCLT order on the airline's insolvency. The lessors have been asked to move an appropriate application at the National Company Law Tribunal (NCLT).

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Go First Crisis: NCLT Allows Go First Airlines' Plea Seeking Insolvency

Go First Crisis: NCLT Allows Go First Airlines' Plea Seeking Insolvency

Wed, May 10, 2023

Cash-strapped airline Go First, which was granted relief by the National Company Law Tribunal (NCLT) on Wednesday, has extended flight cancellations till May 19. In another major development, the NCLT approved Go First’s voluntary insolvency plea, fuelling fresh hopes of revival for the Wadia group-owned airline.

Go First Seeks Moratorium For Revival As NCLT Begins Hearing Insolvency Plea

Go First Seeks Moratorium For Revival As NCLT Begins Hearing Insolvency Plea

Thu, May 04, 2023

Cash-strapped budget airline Go First has sought an interim moratorium as the Delhi chapter of the National Company Law Tribunal (NCLT) began hearing its voluntary insolvency plea on May 4.

Supertech offered 9,705 flats without occupancy certificates: Interim resolution professional to NCLAT

Supertech offered 9,705 flats without occupancy certificates: Interim resolution professional to NCLAT

Thu, Dec 29, 2022

In August, the builder's two 31-storey towers -- Apex and Ciyane -- in Noida were demolished following a Supreme Court order.

NCLAT sets aside CCI order on DLF, remanded back directing to examine

NCLAT sets aside CCI order on DLF, remanded back directing to examine

Mon, Dec 26, 2022

The case pertains to CCI rejecting a complaint against DLF and its subsidiary for alleged abuse of the dominant position on the basis of a second/supplementary report from DG.

NCLT directs to initiate insolvency proceedings against real estate firm Ajnara

NCLT directs to initiate insolvency proceedings against real estate firm Ajnara

Thu, Sep 22, 2022

A two-member New Delhi-based bench held the insolvency petition filed on behalf of 113 allottees of Ajnara Ambrosia as maintainable and as per the builder-buyer agreement, it was bound to give possession within three years of booking

Bank of India moves NCLT against Future Lifestyle Fashions, files insolvency plea

Bank of India moves NCLT against Future Lifestyle Fashions, files insolvency plea

Tue, Aug 30, 2022

Besides this, FLFL is already facing two other insolvency petitions. The first one is filed by its financial creditor Catalyst Trusteeship Ltd, claiming default of an amount of Rs 451.98 crore under section 7 of IBC.

NCLT initiates insolvency proceedings against Supertech Ltd

NCLT initiates insolvency proceedings against Supertech Ltd

Fri, Mar 25, 2022

This is the second major setback for Noida-based developer in the last one year.

Year Ender 2021: With missed timelines, insolvency cases likely to speed up with improved infrastructure

Year Ender 2021: With missed timelines, insolvency cases likely to speed up with improved infrastructure

Fri, Dec 31, 2021

The National Company Law Tribunal, the designated authority under the insolvency law, and the appellate tribunal NCLAT continued to grapple with a lack of resources in terms of vacant positions of judges and poor infrastructure.

Supplier says Flipkart not 'economically viable' after defaulting on payment

Supplier says Flipkart not 'economically viable' after defaulting on payment

Wed, Nov 06, 2019

The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against Walmart owned e-commerce company, Flipkart for defaulting on Rs 18 crore payment to one of its suppliers.

NCLT orders corporate insolvency resolution process against HDIL

NCLT orders corporate insolvency resolution process against HDIL

Sat, Aug 31, 2019

NCLT orders corporate insolvency resolution process against HDIL. Watch this video to know more.

Jet Airways lenders decide to take airline to NCLT

Jet Airways lenders decide to take airline to NCLT

Mon, Jun 17, 2019

Lenders of the embattled Jet Airways airline have decided to take it to National Company Law Tribunal (NCLT).

2018 saw greater advocacy by institutional shareholders: Report

2018 saw greater advocacy by institutional shareholders: Report

Thu, Feb 14, 2019

Most of such resolutions were related to board appointments, stock options and board remuneration

Insolvency proceedings against Sikka Infra quashed by Law Tribunal

Insolvency proceedings against Sikka Infra quashed by Law Tribunal

Fri, Feb 08, 2019

The action taken against the only Company of the Group i.e. Sikka Infrastructure Pvt. Ltd. has been dismissed by the NCLT.

IL&FS Transportation Networks delays Q2 results citing group co's NCLT proceedings

IL&FS Transportation Networks delays Q2 results citing group co's NCLT proceedings

Thu, Nov 22, 2018

IL&FS Transportation Networks, part of the troubled IL&FS group, Thursday cited NCLT insolvency proceeding as the reason for delay in filing September quarter financial results with the stock exchanges and said it will declare quarterly numbers at the earliest.

How bank frauds, NPAs are hurting developers

How bank frauds, NPAs are hurting developers

Fri, Oct 12, 2018

SPML Infra is among the few construction companies in the country that has decades of expertise in social projects, especially water management apart from building roads and power projects for clients, including state public health departments, Delhi Jal Board, NTPC, Delhi Metro, among others.

NCLT Delays force 13 banks to auction off stressed corporate loans of Rs 33,949 cr to ARCs

NCLT Delays force 13 banks to auction off stressed corporate loans of Rs 33,949 cr to ARCs

Fri, Oct 12, 2018

Delays in resolutions at National Company Law Tribunals (NCLT) have forced 13 banks to auction off stressed corporate loans of Rs 33,949 crore to asset reconstruction companies or distressed funds with foreign funding.

Ramachandra Galla led Amara Raja to bring business under one entity

Ramachandra Galla led Amara Raja to bring business under one entity

Mon, Aug 06, 2018

Promoters of Amara Raja Group, a major player in automobile batteries and power equipment headed by Ramachandra Galla, is consolidating the group holdings across the various companies under a newly formed holding entity, RN Galla Family Pvt Ltd.

NCLT allows Fortis to withdraw amalgamation scheme

NCLT allows Fortis to withdraw amalgamation scheme

Sat, Jun 16, 2018

Fortis Healthcare today said National Company Law Tribunal (NCLT) bench in Chandigarh has approved the withdrawal of the scheme of amalgamation between Fortis Malar Hospitals and SRL

NCLT approves Tata Steel's bid for Bhushan Steel

NCLT approves Tata Steel's bid for Bhushan Steel

Tue, May 15, 2018

The National Company Law Tribunal (NCLT) has approved Tata Steel's bid submitted by the resolution professional for Bhushan Steel. NCLT has dismissed Bhushan Steel employees' plea opposing Tata Steel's bid. The tribunal has also imposed a fine of Rs 1 lakh on the company.

NCLT suggests IBBI review insolvency code regulations

NCLT suggests IBBI review insolvency code regulations

Sun, May 06, 2018

The National Company Law Tribunal also said that the resolution professional (RP) should be competent and independent so that there are no interruptions in the process which lead to delays in disposal of insolvency cases. Besides, it has said the claims of operational creditors are neglected or ignored as the Committee of Creditors (CoC) has supremacy of the financial creditors (banks and financial institutions) who have control over the entire process

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