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The Latest Breaking News from NCLT

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

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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

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 Hindu

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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 Times of India

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 Hindu

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 Times of India

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 Hindu

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

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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…

The Times of India

Future Retail claims shareholders' meet for Reliance deal is legal, in response to Amazon's allegations

NEW DELHI: Big Bazaar-parent Future Retail (FRL) on Friday said the meetings of its shareholders and creditors that are scheduled to be held on April 20 and 21 for the approval of its proposed deal with Reliance Retail are “legal” and conform to the directions issued by the National Company…

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The Times of India

Future Retail's shareholders' meet to approve Reliance deal is 'illegal': Amazon

NEW DELHI: Amazon has written to Big Bazaar-parent Future Retail alleging that the upcoming meetings of its shareholders and creditors for the approval of the retailer’s proposed Rs 24,700-crore deal with Reliance Retail is “illegal”.

The Times of India

Supertech's Twin Tower: Homebuyers' interest will be protected, says SC, directs to file claims

NEW DELHI: The Supreme Court on Monday said it will protect the interest of home buyers of 40 storey twin-towers of Emerald Court project of real estate developer Supertech Ltd, which has been now declared bankrupt by NCLT and directed them to file by April 15 their claims for refund…

The Times of India

NCLT: Hand over charge of Delhi Gymkhana Club ‘forthwith’

NEW DELHI : The National Company Law Tribunal’s decision to allow the central government to take over the management of the Delhi Gymkhana Club is a major jolt to the powerful notables of the national capital.

The Times of India

2,700 homebuyers face uncertainty in Noida's Logix Blossom Zest society

NOIDA: Around 2,700 homebuyers, of whom less than 1,100 have received their flats, are scrambling to file their claims after the National Company Law Tribunal (NCLT) initiated insolvency proceedings against of Logix Blossom Zest, allowing a plea by operational creditor Colliers International (India) Property Services.

The Times of India

Explained: What realtor Supertech's bankruptcy means for its home buyers

NEW DELHI: Realtor Supertech, which has undertaken several projects in Noida, Gurugram, Ghaziabad, and Greater Noida, was declared bankrupt on Friday by the National Company Law Tribunal (NCLT) for defaulting on payment of Rs 431 crore to a consortium of banks. The move could have a bearing on 11,000 home…

Newslaundry

Max Group founder rejects media reports on wife’s plea alleging shareholder oppression

Analjit Singh, founder and chairman of Max Group, has rejected media reports about a petition filed before the National Company Law Tribunal regarding an unlisted promoter entity. "While these allegations are mired in incorrect facts and misrepresentation, we will contest these allegations in the NCLT hearing,” he said in a…

The Hindu

Supertech Ltd. declared bankrupt; NCLT orders insolvency proceedings in ₹432-crore default case

The default pertains to the loan given by Union Bank of India to Eco Village II project at Greater Noida (West) in Uttar Pradesh

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