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National Company Law Tribunal (NCLT)

Vedanta hopeful to complete demerger process by fiscal end: Senior official

Vedanta hopeful to complete demerger process by fiscal end: Senior official

Tue, Aug 06, 2024

Diversified natural resources company Vedanta Ltd has filed the demerger scheme with the National Company Law Tribunal (NCLT) after receiving a nod from lenders and is hopeful of completing the process by the end of this fiscal, a senior company official said.

NCLT allows IL&FS Transportation Networks to offload shares in an expressway project

NCLT allows IL&FS Transportation Networks to offload shares in an expressway project

Sat, May 18, 2024

The proposed transaction was approved by the new board of IL&FS and the IL&FS Transportation Networks (ITNL) Board on October 6, 2023.

Breach of investor privacy, vote manipulation by ICICI Securities, shareholders allege at NCLT hearing

Breach of investor privacy, vote manipulation by ICICI Securities, shareholders allege at NCLT hearing

Tue, May 14, 2024

The petitioners allege that ICICI Prudential Mutual Fund, a subsidiary of ICICI's parent company, engaged in questionable practices by acquiring a significant number of shares shortly before the vote and subsequently voting under the guise of public shareholding.

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NCLT registers 43% jump in debt resolution cases: IBBI

NCLT registers 43% jump in debt resolution cases: IBBI

Sat, May 04, 2024

The regulator is also working on prepackaged insolvency for large corporate cases, which is only allowed in MSME cases as of now.

NCLT approves merger of Tata Metaliks with parent; not to announce separate quarterly results

NCLT approves merger of Tata Metaliks with parent; not to announce separate quarterly results

Fri, Jan 12, 2024

The National Company Law Tribunal has sanctioned the amalgamation of Tata Metaliks Ltd into its parent Tata Steel, which led to the cancellation of board meeting ahead of financial results announcement of the subsidiary firm.

NCLT asks SpiceJet to settle disputes with lessors in ongoing insolvency cases

NCLT asks SpiceJet to settle disputes with lessors in ongoing insolvency cases

Tue, Sep 05, 2023

In May, lessors had requested the Directorate General of Civil Aviation (DGCA) to deregister one aircraft each from Wilmington Trust SP Services, Sabarmati Aviation Leasing, and Falgu Aviation leasing with the airline.

Rasna to challenge NCLT's insolvency order; court appoints official to take full charge of firm's assets

Rasna to challenge NCLT's insolvency order; court appoints official to take full charge of firm's assets

Fri, Sep 01, 2023

The court's decision regarding the insolvency of Rasna came in the case of Bharat Road Carrier Pvt Ltd vs Rasna Pvt Ltd, in which the former had filed an application regarding the initiation of the corporate insolvency resolution process under Section 9 of the Insolvency & Bankruptcy Code, 2016.

IMC constituted to supervise NARCL resolution plan for Srei group firms

IMC constituted to supervise NARCL resolution plan for Srei group firms

Thu, Aug 17, 2023

Srei Infrastructure Finance Ltd (SIFL) on Thursday said an implementation and monitoring committee has been constituted to supervise the implementation of the resolution plan for the debt-ridden company.

NCLT approves Rs 1,814 cr resolution plan for Lavasa; Darwin Platform winning bidder

NCLT approves Rs 1,814 cr resolution plan for Lavasa; Darwin Platform winning bidder

Sat, Jul 22, 2023

The National Company Law Tribunal has approved a Rs 1,814 crore resolution plan for the private hill station Lavasa, nearly five years after the initiation of the insolvency resolution process.

SpiceJet Insolvency Case: NCLT issues notice to SpiceJet on aircraft lessor's petition, next hearing on May 17

SpiceJet Insolvency Case: NCLT issues notice to SpiceJet on aircraft lessor's petition, next hearing on May 17

Mon, May 08, 2023

SpiceJet Insolvency Case: The National Company Law Tribunal on Monday issued a notice to SpiceJet on a petition filed by an aircraft lessor seeking initiation of insolvency resolution proceedings against the budget carrier.

NCLT approves Suraksha group's bid for Jaypee Infratech; relief for more than 20,000 homebuyers

NCLT approves Suraksha group's bid for Jaypee Infratech; relief for more than 20,000 homebuyers

Sun, May 07, 2023

The National Company Law Tribunal (NCLT) on Tuesday approved the Mumbai-based Suraksha group's bid to buy Jaypee Infratech Ltd, a development that comes as a relief for more than 20,000 homebuyers nearly six years after the debt-ridden company entered into the insolvency process.

Income Tax Department challenges NCLT order approving Suraksha Group' bid for Jaypee Infratech

Income Tax Department challenges NCLT order approving Suraksha Group' bid for Jaypee Infratech

Mon, Apr 10, 2023

The Income Tax Department has filed an appeal against the National Company Law Tribunal approving Suraksha Group's bid to buy Jaypee Infratech Ltd (JIL) under the insolvency resolution process.

HDFC-HDFC Bank merger: NCLT approves shareholders' meet

HDFC-HDFC Bank merger: NCLT approves shareholders' meet

Sat, Oct 15, 2022

HDFC-HDFC Bank merger: The shareholder meeting will be convened on November 25, 2022 for the purpose of considering and approving the Scheme of Amalgamation, HDFC said in a regulatory filing on Friday.

Insurance industry to continue to see merger and acquisitions deals, new entrants

Insurance industry to continue to see merger and acquisitions deals, new entrants

Mon, Sep 19, 2022

In order to equip itself with the complexities of merger and acquisitions, the Insurance Regulatory and Development Authority of India (IRDAI) has started looking for consultants who can undertake valuation of state-owned and private sector insurers, and train its officials about valuation methodology and processes.

Recoveries from insolvency cases jumped up to 30.6 per cent during April-June period of this fiscal - report

Recoveries from insolvency cases jumped up to 30.6 per cent during April-June period of this fiscal - report

Sat, Sep 03, 2022

Recoveries from insolvency cases have inched up to 30.6 per cent in Q1 of the current fiscal from 26 per cent in the year-ago period, while the number of insolvency cases filing/admission rose by 23.5 per cent during this period, says a report.

Sebi orders forensic audit of debt-ridden Future Retail accounts

Sebi orders forensic audit of debt-ridden Future Retail accounts

Fri, Aug 05, 2022

The audit will be "with respect to the related party transactions with FRL during the above review period", said the three Future group firms.

Kamdhenu demerges paints business; to list new entity Kamdhenu Ventures in Jul-Sep quarter

Kamdhenu demerges paints business; to list new entity Kamdhenu Ventures in Jul-Sep quarter

Mon, Jun 20, 2022

It is now looking to complete the listing process of newly-formed company in the July-September quarter, Kamdhenu Ltd said in a statement.

Tata Steel Mining buys Rohit Ferro-Tech for Rs 617 crore

Tata Steel Mining buys Rohit Ferro-Tech for Rs 617 crore

Wed, Apr 13, 2022

TSML has acquired debt-laden Rohit Ferro-Tech Ltd for Rs 617.12 crore through an insolvency resolution process.

Supertech's Twin Tower: Homebuyers interest will be protected, says SC, directs to file claims

Supertech's Twin Tower: Homebuyers interest will be protected, says SC, directs to file claims

Mon, Apr 04, 2022

Supertech Ltd informed the top court that it will be filing an appeal against the order of the NCLT declaring it bankrupt on a plea filed by the Union Bank of India for non-payment of around Rs 432 crore worth of dues.

Indian banks to start debt recovery proceedings against Future Retail -sources

Indian banks to start debt recovery proceedings against Future Retail -sources

Tue, Mar 22, 2022

Indian lenders are set to initiate debt recovery proceedings against Future Retail this week to safeguard their interests after rival Reliance unexpectedly took over some of the retailer`s stores.

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.

Year Ender 2021: Indian aviation industry was able to breathe a little easier this year

Year Ender 2021: Indian aviation industry was able to breathe a little easier this year

Thu, Dec 23, 2021

The Indian aviation industry was able to breathe a little easier in 2021 as domestic flight operations reached their pre-pandemic levels even though international services continued to remain curtailed due to Covid-related travel restrictions.

SBI weighs NCLT route for recovery of loans from Jet Airways

SBI weighs NCLT route for recovery of loans from Jet Airways

Sun, Feb 24, 2019

Officials associated with the lenders and key shareholders said the SBI is considering moving the National Company Law Tribunal (NCLT) seeking insolvency proceedings against Jet Airways since it is running out of money for operations.

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