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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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Second list of defaulters out; RBI hope lenders file for IBC on their own without regulatory directions

Second list of defaulters out; RBI hope lenders file for IBC on their own without regulatory directions

Fri, Sep 08, 2017

Acharya said, " The Reserve Bank has now advised banks to resolve some of the other accounts by December 2017; if banks fail to put in place a viable resolution plan within the timelines, these cases also will be referred for resolution under the IBC."

Tribunal asks McDonald's, Vikram Bakshi to wait for NCLAT verdict on franchise agreement

Tribunal asks McDonald's, Vikram Bakshi to wait for NCLAT verdict on franchise agreement

Wed, Sep 06, 2017

The NCLT told McDonald's and Vikram Bakshi to wait for the verdict from NCLAT as it is pending with the tribunal.

Jaypee Infratech Case: IDBI Bank files plea before SC seeking modification in NCLT's insolvency proceedings

Jaypee Infratech Case: IDBI Bank files plea before SC seeking modification in NCLT's insolvency proceedings

Tue, Sep 05, 2017

On August 09, the Allahabad bench of the National Company Law Tribunal (NCLT) admitted plea of IDBI Bank to begin insolvency proceedings against Jaypee Infratech for defaulting on a loan of Rs 526.11 crore.

Axis Bank has exposure on 12 accounts in RBI's second list of defaulters

Axis Bank has exposure on 12 accounts in RBI's second list of defaulters

Fri, Sep 01, 2017

Axis Bank stated that RBI has directed the bank to finalize and implement viable resolution plan for the identified second list of defaulters as on June 2017.

Last day for Jaypee Infratech home buyers to file claims; Here's a checklist

Last day for Jaypee Infratech home buyers to file claims; Here's a checklist

Thu, Aug 24, 2017

NCLT bench has asked home buyers of Jaypee Infratech to file for refund claims by August 24, 2017. However, home buyers have knocked the doors of Supreme Court seeking stay on NCLT order.

NPA resolution not to liquidate cos, but to help save them: FM Jaitley

NPA resolution not to liquidate cos, but to help save them: FM Jaitley

Sat, Aug 19, 2017

Gross NPAs have crossed 9.6 per cent as of March 2017, while the stressed loans ratio is over 12 per cent.

Jaypee Infratech's homebuyers can file refund claim; here's how

Jaypee Infratech's homebuyers can file refund claim; here's how

Wed, Aug 16, 2017

Share price of Jaypee Infratech touched both upper and lower circuit on BSE as homebuyers continue to rush for filing NCLT claims.

Challenge lies in IBC's successful implementation: SC judge

Challenge lies in IBC's successful implementation: SC judge

Sat, Jul 29, 2017

Emphasising that the Code is important for the country's economy, Justice Sikri said interpreting the law is also a challenge before National Company Law Tribunal (NCLT) and Insolvency and Bankruptcy Board of India (IBBI).

Insolvency Code to boost entrepreneurship, ease of doing business

Insolvency Code to boost entrepreneurship, ease of doing business

Sat, Jul 29, 2017

Addressing captains of industry at a day-long national conference on IBC organised by the Associated Chambers of Commerce and Industry of India (Assocham), the minister said the code would facilitate insolvency of corporates in a timely manner to maximise value of their assets.

Jyoti Structures: NCLT admits corporate insolvency resolution process filed by SBI

Jyoti Structures: NCLT admits corporate insolvency resolution process filed by SBI

Mon, Jul 24, 2017

Jyoti Structures which owes over Rs 7,000 crore to a list of bankers said on Monday that NCLT has admitted CIRP filed by SBI to whom its owes over Rs 1,200 crore.

Now individuals can also seek NCLT help to recover dues

Now individuals can also seek NCLT help to recover dues

Mon, Jul 24, 2017

The Chennai bench of NCLT has admitted the application filed by the employees after the hotel failed to pay arrears of salary, gratuity and leave salary.

Electrosteel bankruptcy: NCLT appoints interim resolution

Electrosteel bankruptcy: NCLT appoints interim resolution

Sat, Jul 22, 2017

The Kolkata bench of NCLT appointed Dhaivat Anjaria as IRP for ascertaining the particulars and convene a committee of creditors for evolving the resolution plan of the creditors.

NCLT allows Essar Steel to file objections to SBI, SCB pleas

NCLT allows Essar Steel to file objections to SBI, SCB pleas

Wed, Jul 19, 2017

The Ahmedabad bench of the tribunal of judicial member Bikki Raveendra Babu granted time to Essar Steel till July 22 to file objections to the petitions moved by the two lenders against the company after the Gujarat High Court dismissed its petition yesterday.

Essar's steely resolve or road to liquidation?

Essar's steely resolve or road to liquidation?

Tue, Jul 18, 2017

After Gujarat HC dismissed Essar Steel's petition against RBI and lenders, Insolvency & Bankruptcy code (IBC), 2016 will commence immediately giving 180 days to make resolution plan.

Essar Steel seeks more time for debt restructuring

Essar Steel seeks more time for debt restructuring

Mon, Jul 17, 2017

After Gujarat High Court dismissed Essar Steel's petition, the company in a statement highlighted observations made by the court.

INOX Wind moves appellate tribunal against NCLT order

INOX Wind moves appellate tribunal against NCLT order

Sun, Jul 16, 2017

The statement comes in the wake of news reports that claimed Inox Wind Ltd (IWL) was on road to insolvency after the Chandigarh bench of NCLT cleared the process on the plea of Jeena & Company over pending dues.

Action against Essar Steel based on internal panel's advice, RBI tells Gujarat HC

Action against Essar Steel based on internal panel's advice, RBI tells Gujarat HC

Sat, Jul 15, 2017

A single bench judge bench of Justice S.G. Shah is hearing a petition filed by the steel major on July 4 seeking quashing of insolvency proceedings, claiming that the action was unilaterally initiated without giving it a hearing at a time when the company was in a major restructuring mode.

First test of India's new bankruptcy law offers cautionary tale

First test of India's new bankruptcy law offers cautionary tale

Tue, Jul 11, 2017

In January, Innoventive Industries, a speciality steelmaker based in western India, was forced into the bankruptcy court by its lenders, testing for the first time new insolvency rules that aim to resolve India`s $150 billion bad debt overhang.

NCLT priority for insolvency: RBI partially retracts statement

NCLT priority for insolvency: RBI partially retracts statement

Sun, Jul 09, 2017

RBI had said it has identified 12 accounts for insolvency proceedings with each of them having over Rs 5,000 crore of outstanding loans accounting for 25 per cent of total NPAs of banks.

Have zero tolerance on NPAs; fight cases: Finmin to banks

Have zero tolerance on NPAs; fight cases: Finmin to banks

Sat, Jul 08, 2017

The ministry has been asking banks to take tough action against such borrowers and be ready to fight court cases as well.

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