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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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NIIL Infrastrutures' RP invites bids to complete stuck housing project in Agra, UP

NIIL Infrastrutures' RP invites bids to complete stuck housing project in Agra, UP

Mon, Jan 07, 2019

In March last year, the National Company Law Tribunal (NCLT) Delhi had admitted the application seeking resolution for NIIL Infrastructures under the Insolvency and Bankruptcy Code

NCLT allows removal of a company auditor on government plea

NCLT allows removal of a company auditor on government plea

Sun, Jan 06, 2019

An inspection by the ministry found that all the commonly known attributes of a shell company were existing in the case of Zen Shaving.

IL&FS revival: New board submits future plan to NCLT, seeks asset sales, capital infusion

IL&FS revival: New board submits future plan to NCLT, seeks asset sales, capital infusion

Thu, Nov 01, 2018

The new Board will work towards the final resolution, in stages and parts over a period of six to nine months, and there is a possibility of some early partial resolutions in a timeframe of the next two to three months. However, the early resolutions would be only after NCLT’s approval.

Distressed asset sales 3% of overall M&A in 2017: Report

Distressed asset sales 3% of overall M&A in 2017: Report

Tue, Oct 30, 2018

Total distressed asset merger & acquisitions has totalled USD 14.3 billion, led by deals like Bhsuhan Steel (USD7.4 billion), Reliance Communications (USD 3.7 billion) and Fortis Healthcare (USD 1.2 billion), financial consultancy Kroll said in note Monday.

NCLT Principal bench directs to move Videocon insolvency pleas to one court

NCLT Principal bench directs to move Videocon insolvency pleas to one court

Thu, Oct 25, 2018

The principal bench of the National Company Law Tribunal (NCLT) on Wednesday directed to transfer all insolvency petitions related to Videocon group being heard in Mumbai courts to a single court there.

Good news! On IL&FS, Uday Kotak says 'we are making progress'

Good news! On IL&FS, Uday Kotak says 'we are making progress'

Thu, Oct 11, 2018

The government has so far maintained it to be a case of mismanagement and misrepresentation of facts. The Serious Fraud and Investigation Office, which is probing the firm and its group companies, is likely to give its report in a month.

Rashtriya Ispat Nigam unit OMDC out of NCLT after settling creditors dues

Rashtriya Ispat Nigam unit OMDC out of NCLT after settling creditors dues

Fri, Sep 21, 2018

The company has now come out from National Company Law Tribunal (NCLT) even after the initiation of bankruptcy proceedings process under the Insolvency and Bankruptcy Code, making it one of the first such cases allowed through an amendment to the regulations introduced in June this year.

Vodafone Idea to merge Aditya Birla Telecom

Vodafone Idea to merge Aditya Birla Telecom

Tue, Sep 18, 2018

Indus Towers, on the other hand, is in process of merging with Bharti Airtel's tower subsidiary Bharti Infratel and the deal has given Aditya Birla group option to sell its full shareholding in Indus Towers for cash.

Shivinder Singh vs Malvinder Singh: This is how company was debt trapped

Shivinder Singh vs Malvinder Singh: This is how company was debt trapped

Fri, Sep 07, 2018

In a petition, seen by DNA Money, Shivinder Singh had alleged that Malvinder and Godhwani used Religare Enterprises Ltd (REL), a non-banking financial company, to borrow the money from public and "pushed this company into debt trap".

GTL Infrastructure moves HC against action under Bankruptcy Code

GTL Infrastructure moves HC against action under Bankruptcy Code

Tue, Sep 04, 2018

According to the petitioner, in February, Edelweiss Asset Reconstruction Company (EARC) jointly with the Bank of Merrill Lynch offered an initial bid of Rs 2,000 crore on a full cash basis against the outstanding dues of all the lenders including Canara Bank and UBI.

Dubai's Emaar Properties to partner with local developers to monetise land bank in India

Dubai's Emaar Properties to partner with local developers to monetise land bank in India

Sun, Sep 02, 2018

Asked about launching own projects, Gupta said the company has identified some land parcels where company would like to develop projects. "We plan to launch 8 projects in calendar year 2019. One or two out of these 8 may happen even this year but we will not push for it as the focus is currently on execution of existing projects," he said.

Monnet Ispat says NCLT's insolvency resolution plan completed

Monnet Ispat says NCLT's insolvency resolution plan completed

Fri, Aug 31, 2018

Bankrupt Monnet Ispat & Energy today said the insolvency resolution plan approved by NCLT has been completed under which JSW Steel has provided a working capital advance of Rs 125 crore. The bankrupt Monnet owes over Rs 11,000 crore to a clutch of lenders.

Substantial debt may impact company's ability to raise finance: Tata Steel

Substantial debt may impact company's ability to raise finance: Tata Steel

Tue, Aug 28, 2018

On the financial risks facing Tata Steel, it said, fluctuation in foreign exchange rates due to volatility in financial markets is likely to impact the company's debt servicing and create uncertainties in accessing the financial markets.

Bankers see no material impact on their provisioning as Reserve Bank of India Deadline ends

Bankers see no material impact on their provisioning as Reserve Bank of India Deadline ends

Tue, Aug 28, 2018

"The August 27 deadline does not have any material impact on the provisioning requirements as most of them have already been classified as bad loans," Rajnish Kumar told reporters on the sidelines of the annual general meeting of the Indian Banks Association this evening.

National Company Law Tribunal orders liquidation of Lanco Infratech

National Company Law Tribunal orders liquidation of Lanco Infratech

Tue, Aug 28, 2018

The Reserve Bank had last June directed IDBI Bank, lead lender of Lanco Infratech, to initiate insolvency proceedings for the company under the Insolvency and Bankruptcy Code (IBC).

NCLT recruitment 2018: National Company Law Tribunal is hiring! Check details

NCLT recruitment 2018: National Company Law Tribunal is hiring! Check details

Sun, Aug 26, 2018

The new vacancies are in place of the earlier ones.

Ruchi Soya up 5 pc as lenders approve Adani Wilmar's Rs 6,000-cr bid

Ruchi Soya up 5 pc as lenders approve Adani Wilmar's Rs 6,000-cr bid

Fri, Aug 24, 2018

Adani Wilmar and Baba Ramdev's Patanjali group have been engaged in a long-drawn battle to take over Ruchi Soya.

Working on Samadhan scheme for stressed accounts: Dina Bandhu Mohapatra, MD & CEO, Bank of India

Working on Samadhan scheme for stressed accounts: Dina Bandhu Mohapatra, MD & CEO, Bank of India

Tue, Aug 21, 2018

In an exclusive interview with Zee Business, Dina Bandhu Mohapatra, Managing Director & CEO, Bank of India, said the bank is trying its best to come out from the PCA list and is focusing on a trigger point to move ahead.

Implementation gap may hit Insolvency and Bankruptcy Code

Implementation gap may hit Insolvency and Bankruptcy Code

Tue, Feb 20, 2018

A comprehensive bankruptcy code alone can address the issue of non-performing assets, taking into consideration international practices

Cyrus Mistry appeals against NCLT rejecting waiver plea in Tata case

Cyrus Mistry appeals against NCLT rejecting waiver plea in Tata case

Fri, Apr 21, 2017

They had urged the NCLT to use its discretion and waive an eligibility condition for filing such a petition.

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