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The Latest Breaking News from NCLT

UNI’s insolvency proceedings: End of the road or will investors ride to the rescue?

A news agency formed to take on PTI’s monopoly six decades ago, United News of India’s slump over the past 10 years recently culminated in the initiation of the insolvency proceedings against it.

Newslaundry

Aviation leasing watchdog puts India on watchlist after NCLT’s GoFirst order, assigns negative country ‘negative’ outlook

India has been placed on global aviation leasing watchdog’s watchlist, assigning it “negative” outlook following the National Company Law Tribunal’s (NCLT) order restricting bankrupt airline Go First’s lessors from repossessing planes while it is undergoing insolvency process.

The Hindu

Go First must raise funds to keep it a going concern, IRP Lal tells airline’s staff

‘Promoters remain interested in the business’

The Hindu

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NCLT admits Go First’s insolvency plea, grants moratorium

go first insolvency plea admitted

The Hindu

‘Fair and Remunerative Price’ fixed by Centre for sugarcane is not a fair market price at all, says Madras High Court

In a judgement that has come as a shot in the arm for sugarcane farmers, the Madras High Court has said the Fair and Remunerative Price (FRP) fixed by the Centre for their produce was in reality not the fair market price at all, and that small and marginal farmers…

The Hindu

Morning Digest | Jaishankar discusses LAC stand-off with Chinese Foreign Minister; many killed in Manipur riots on second day of curfew, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

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

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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

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

South India Corporation willing to settle payment disputes with Tangedco

CHENNAI

The Hindu

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The Times of India

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…

Newslaundry

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…

The Hindu

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

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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

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

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.

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