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NCLT

Finance Minister Nirmala Sitharaman meets heads of PSBs, asks banks to undertake special drive to garner deposits

Finance Minister Nirmala Sitharaman meets heads of PSBs, asks banks to undertake special drive to garner deposits

Mon, Aug 19, 2024

The minister also urged the PSBs to explore collaboration to leverage their respective strengths by sharing best practices in emerging areas and equip themselves to keep pace with changes in the banking sector.

Byju's knocks at NCLAT door against NCLT's insolvency order; seeks urgent hearing

Byju's knocks at NCLAT door against NCLT's insolvency order; seeks urgent hearing

Thu, Jul 18, 2024

Byju's did not comment on the issue.According to sources, Byju's on Thursday moved the appellate tribunal, NCLAT, contesting the recent order of NCLT's Bengaluru bench that had admitted the cricket board's plea to start insolvency proceedings against the parent company Think and Learn, after the edtech firm failed to pay Rs 158.9 crore dues.

NCLT accepts BCCI insolvency plea against Byju's, ed-tech firm to challenge decision

NCLT accepts BCCI insolvency plea against Byju's, ed-tech firm to challenge decision

Tue, Jul 16, 2024

According to sources close to the development, the company is planning to challenge the NCLT order in the National Company Law Appellate Tribunal (NCLAT).

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IL&FS Case: NCLT rejects Deloitte, BSR & Associates arm's no-jurisdiction plea

IL&FS Case: NCLT rejects Deloitte, BSR & Associates arm's no-jurisdiction plea

Fri, Aug 09, 2019

NCLT has today rejected an appeal by the auditors of debt-laden cpmpany (IL&FS), challenging the court’s jurisdiction to ban them for alleged abetment of financial fraud.

Big jolt to IL&FS Financial auditors, NCL rejects application challenging ban decision

Big jolt to IL&FS Financial auditors, NCL rejects application challenging ban decision

Fri, Aug 09, 2019

Audit Firms Deloitte Haskins & Sells and KPMG affiliated BSR & Associate got a jolt from Mumbai NCLT on Friday as it rejected auditors' application challenging jurisdiction to ban them.

Big boost to Baba Ramdev's business empire! NCLT clears Patanjali's Rs 4350 crore bid for Ruchi Soya - 5 points

Big boost to Baba Ramdev's business empire! NCLT clears Patanjali's Rs 4350 crore bid for Ruchi Soya - 5 points

Fri, Jul 26, 2019

Finally, Baba Ramdev's Patanjali has received the nod of National Company Law Tribunal (NCLT) to acquire Ruchi Soya on a revised Rs 4350 crore bid

Banks give up on Jet Airways revival, take it to NCLT

Banks give up on Jet Airways revival, take it to NCLT

Tue, Jun 18, 2019

It is finally curtains on attempts by lenders to revive the grounded Jet Airways by finding a buyer for it. On Monday, the State Bank of India-led consortium of lenders decided to send the carrier to the National Company Law Tribunal (NCLT) after failing to receive any concrete proposal from prospective buyers more than two months after the process started.

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).

BoB puts Bhushan Power & Steel, Alok Ind, 65 other accounts worth over Rs 9k cr on block

BoB puts Bhushan Power & Steel, Alok Ind, 65 other accounts worth over Rs 9k cr on block

Mon, Jun 10, 2019

Bank of Baroda has put on sale non-performing loans amounting to Rs 9,060 crore, including two large accounts - Bhushan Power & Steel and Alok Industries.

Tata Chemicals' consumer business to merge with TGBL

Tata Chemicals' consumer business to merge with TGBL

Wed, May 15, 2019

Pursuant to the scheme, each shareholder of TCL will get 1.14 new equity shares of TGBL for every 1 equity share held in TCL, signifying that a shareholder holding 100 shares in TCL will receive 114 shares in TGBL.

Jaypee Infratech insolvency: NCLT to hear on May 21 IDBI's plea on deadline extension

Jaypee Infratech insolvency: NCLT to hear on May 21 IDBI's plea on deadline extension

Mon, May 06, 2019

Jaypee Infratech insolvency: On January 28 this year, the NCLT had extended the period of the CIRP by another 90 days as 180 days mandated under the Insolvency and Bankruptcy Code (IBC) was ending on February 5, 2019.

RBI asks lender banks to disclose IL&FS exposure in March quarter accounts

RBI asks lender banks to disclose IL&FS exposure in March quarter accounts

Wed, Apr 24, 2019

RBI on Wednesday directed lenders to disclose their exposure to the bankrupt infra lender in their forthcoming earnings announcements.

IBC cases admitted over RBI circular to continue: MS Sahoo

IBC cases admitted over RBI circular to continue: MS Sahoo

Tue, Apr 16, 2019

Although the Supreme Court has quashed the RBI`s February 12, 2018, order on non-performing assets (NPA), the cases admitted for resolution process based on the order would continue, said the Insolvency and Bankruptcy Board of India (IBBI) on Monday.

Penalty case: Maruti Suzuki, Mahindra to Mercedes, here is what Delhi court has ordered carmakers to do

Penalty case: Maruti Suzuki, Mahindra to Mercedes, here is what Delhi court has ordered carmakers to do

Wed, Apr 10, 2019

On August 25, 2014, the CCI had slapped a total penalty of Rs 2,545 crore on 14 car manufacturers, including Honda, Volkswagen and FIAT, in India after finding them guilty of violating trade norms in the spare parts and after-services market.

NCLAT seeks details about 4 IL&FS group entities - 'Submit information over investment made by pension, provident funds'

NCLAT seeks details about 4 IL&FS group entities - 'Submit information over investment made by pension, provident funds'

Mon, Apr 08, 2019

The NCLAT had directed 4 out of 13 amber entities to prepare charts, and held that the remaining 9 firms will also try to prepare charts by the next date of hearing, which is April 16.

12,000 cases filed since implementation of insolvency law, setting up of NCLT: Corporate Affairs Secy

12,000 cases filed since implementation of insolvency law, setting up of NCLT: Corporate Affairs Secy

Mon, Mar 25, 2019

Cases under the code can be taken up only after approval from the tribunal, which has benches in different parts of the country. Srinivas said that personal insolvency should be approached carefully and in a planned manner.

RBI seeks modification of NCLAT order in ILFS case

RBI seeks modification of NCLAT order in ILFS case

Tue, Mar 19, 2019

Further, the tribunal has sought company-wise updates from the Committee of Creditors (CoC) and Resolution Professional (RP).

Centrum to launch Rs 500-cr structured credit fund

Centrum to launch Rs 500-cr structured credit fund

Sun, Mar 17, 2019

See, there are around 3,400 companies at NCLTs. Of this only around 400 are resolved or nearing resolution. So what is the hurry? Let the hype settle down and let the assets become more affordable because our present size doesnt allow us to take huge vulnerabilities.

BSNL to approach NCLT this week against RCom to recover Rs 700 cr

BSNL to approach NCLT this week against RCom to recover Rs 700 cr

Sun, Mar 17, 2019

"BSNL has aready invoked bank guarantee of around Rs 100 crore submitted by RCom for default on payments. Decision was taken on January 4 by BSNL Chairman and Managing Director Anupam Shrivastava to start legal proceedings against RCom for recovery of dues of around Rs 700 crore," the sources told PTI.

NCLT clears ArcelorMittal's Rs 42,000-crore bid for Essar Steel

NCLT clears ArcelorMittal's Rs 42,000-crore bid for Essar Steel

Fri, Mar 08, 2019

The National Company Law Appellate Tribunal (NCLAT) had last month directed the NCLT Ahmedabad bench to take a final decision on ArcelorMittal`s bid for the acquisition of Essar Steel by March 8, failing which it would pass an order.

NCLT approves ArcelorMittal’s takeover bid for Essar Steel

NCLT approves ArcelorMittal’s takeover bid for Essar Steel

Fri, Mar 08, 2019

The National Company Law Tribunal (NCLT) approved steel giant ArcelorMittal SA's takeover bid for debt-ridden Essar Steel. Watch full video to know more.

NTPC eyes stressed assets under insolvency in NCLT to make deals sweeter

NTPC eyes stressed assets under insolvency in NCLT to make deals sweeter

Sun, Mar 03, 2019

"NTPC has decided to go slow on expansion of its capacity addition through acquisition of stressed power assets. The company is now looking at only those projects which would go under hammer as part of the insolvency process," a source privy to the development said.

Government contemplates third bench of NCLT Kolkata

Government contemplates third bench of NCLT Kolkata

Sun, Mar 03, 2019

The Centre is planning to open a third bench of the National Company Law Tribunal (NCLT) in Kolkata, an official said Saturday.

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