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The Latest Breaking News from NCLT

Go First moves NCLT, says total dues to creditors at over ₹11k crore

Go First approached the NCLT on May 3, 2023 and sought the admission of its insolvency plea. It owes creditors ₹11,463 crore, the airline said in its insolvency filing.

The Hindu

NCLAT upheld Adani Power bid for Korba West Power; asks Shapoorji Pallonji & Co to pursue arbitration for claims

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has upheld the 2019 Resolution Plan of Adani Power's bid for Korba West Power and has asked Shapoorji Pallonji Co to pursue arbitration proceedings for pending claims.

The Times of India

From an industry leader to a defaulter: Rise and fall of Venugopal Dhoot

NEW DELHI: Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's…

The Times of India

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Nine Judicial, Technical Members Join NCLT After Taking Oath

Nine judicial and technical members of the NCLT on Friday took oath at a swearing ceremony held at the premises of the insolvency tribunal here. Read on for details:

Dynamite News

KCCI urges Centre to amend Insolvency and Bankruptcy Code in the interest of MSMEs

President of KCCI M. Ganesh Kamath writes letter to Union Minister for Finance Nirmala Sitaraman seeking amendment

The Hindu

NCLT rejects M.K. Rajagopalan’s plea against ASG Hospital’s bid for Vasan Health Care

MD of MGM Healthcare alleged the approved resolution plan of ASG was in violation of Insolvency and Bankruptcy Code regulation; NCLT, however, ruled his plea was rejected as not tenable in law or on facts

The Hindu

Andhra Pradesh: NCLT cancels auction of Lepakshi Knowledge Hub land

It orders reassessment of the land value and start process of corporate insolvency resolution again

The Hindu

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South India Corporation willing to settle payment disputes with Tangedco

CHENNAI

The Hindu

National Company Law Appellate Tribunal to hear Peerless case on September 21

KOLKATA: The National Company Law Appellate Tribunal (NCLAT) will hear the Peerless case between the Roy Family and Parasmal Lodha on September 21. Last week, NCLAT stayed the July 18 order of NCLT till further hearing which had inter alia directed cancellation of 30,000 shares allotted by Peerless General Finance…

The Times of India

Delhi’s Gymkhana Club is new battleground against ‘family fiefdoms’

The central government’s crusade against “family fiefdoms” seems to have reached the doorsteps of the elite Delhi Gymkhana Club, with the union ministry of corporate affairs alleging a violation of norms to fast-track membership claims of relatives of a “select coterie”, and concerns among members about alleged attempts to trace…

Newslaundry

NCLT seeks sources of funding for ASG Hospital’s bid for Vasan Health Care

It also asks for the unconditional letter of commitments from parties willing to fund the acquisition

The Hindu

NCLT gives nod to resolution plan of Landmark Housing promoters

Tribunal rejects objections to the plan citing Supreme Court rulings

The Hindu

NCLT allows IDBI Bank’s plea to replace liquidator of Jeypore Sugar

‘The liquidator does not possess valid authorisation’

The Hindu

Over 97% of lenders voted in favour of ASG Hospital’s bid for Vasan Health Care, NCLT told

The tribunal wants to hear the resolution plan in detail and has posted the case for hearing on July 8

The Hindu

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The Hindu

Bank loans of Tangedco moved out of Rating Watch Negative category

It was removed due to prolonged resolution period of insolvency cases at the National Company Law Tribunal

The Times of India

Homecoming for Amaravati National Company Law Tribunal bench after 3-year wait

VIJAYAWADA: After a three-year-long wait, the Amaravati bench of the National Company Law Tribunal (NCLT) has finally become a reality. The NCLT has decided to shift its Amaravati bench from Hyderabad to Amaravati region.

The Hindu

NCLT allows Tangedco to file additional documents in insolvency case

Tangedco is locked in a dispute with South India Corpn. Ltd. over an amount of ₹1,683.58 crore

The Hindu

NCLT allows plea of Yuvan Shankar Raja’s production company

The company filed an appeal against cancellation of its registration

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The Times of India

Implementation of Jet Airways resolution plan subject to outcome of order, says NCLAT

NEW DELHI: Insolvency appellate tribunal NCLAT on Monday said the implementation of Jalan-Kalrock consortium resolution plan for Jet Airways would be subject to the outcome of its order over the appeals filed before it.

The Hindu

Committee chaired by CJI deliberated on issue regarding tenure of 23 NCLT members: Centre to Supreme Court

“List the proceedings on June 15, 2022. We request the Solicitor General to apprise the court of the developments which have taken place in the meantime,” the Bench said.

The Hindu

Jet Airways gets DGCA nod to start commercial flights

NCLT is now expected to transfer ownership of airline to Jalan-Kalrock consortium

The Times of India

Jet Airways 2.0 gets airline licence; to resume flights by September

NEW DELHI: Jet Airways is all set to become the first Indian carrier to revive operations under India's bankruptcy law September this year.

The Times of India

Pawan Hans winning bidder fund appeals against NCLT order in another case due to which divestment put on hold

NEW DELHI: Cayman Island-based Almas Global Opportunity Fund SPC (AGOF) on Tuesday said it is moving NCLAT against an adverse ruling from a NCLT Bench in the revival of a Kolkata-based firm EMC Ltd.

The Times of India

Govt puts Pawan Hans sale on hold over NCLT order against winning consortium member

NEW DELHI: The government has put on hold the sale of Pawan Hans as it is legally examining an NCLT order against Almas Global, which is the biggest shareholder in the winning consortium, an official said on Monday.

The Times of India

FRL shareholders' e-voting ends; EGM for shareholders, creditors to be held on April 20, 21

NEW DELHI: The electronic voting process for shareholders of the debt-ridden Future Retail Ltd (FRL) ended on Tuesday evening ahead of the meetings of the shareholders and creditors to approve the sale of the company's retail assets to billionaire Mukesh Ambani's Reliance Retail despite opposition from e-commerce major Amazon and…

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