National Company Law Tribunal

The National Company Law Appellate Tribunal on Monday said the provisions of the Insolvency & Bankruptcy Code (IBC) cannot be turned into a debt recovery proceeding as the idea of this special code is to bring a debtor company back on its feet. Setting aside an order of the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against Coppertun Brewing, the appellate tribunal observed it "clearly fell in error" in admitting the plea "while turning a blind eye" on the evidence of pre-existing disputes between parties. When an operational creditor seeks to initiate an insolvency process against a Corporate Debtor, it can only be done in clear cases where no real dispute exists between the two, said the National Company Law Appellate Tribunal (NCLAT) bench, comprising Chairperson Justice Ashok Bhushan and Member Barun Mitra. "What also heavily weighs on our mind is that both in terms of the objectives of the IBC and settled proposition of law as expressed and ...

Torrent may move Supreme Court against rebidding

Their sum-of-the-parts valuations ranges between Rs 275 and Rs 390, which indicates uncertainty

As many as nine Adani Group firms were trading in the negative territory, while one company was trading in the green

Biyani's resignation was also received by the resolution professional on January 24

The National Company Law Tribunal (NCLT) on Friday directed the lenders of Anil Ambani-promoted Reliance Capital to maintain the status quo and asked all applicants to submit written notes. The tribunal on Wednesday postponed the second auction for Reliance Capital, which was scheduled for January 19, to January 23 (Monday) as the NCLT Mumbai bench could not complete the hearing of arguments of all applicants. The NCLT Mumbai bench, led by Justice Shyam Babu Gautam and Justice Pradeep Narhari Deshmukh, has been hearing the applicants on a day-to-day basis since January 9, when Torrent Investments approached the tribunal seeking to halt the Committee of Creditors's move for a second round of auction or 'Challenge Mechanism'. After the hearing was completed on Friday, applicants including the CoC represented by Kapil Sibal, Torrent Investments represented by Darius Khambata, IIHL represented by (Hinduja), represented by Harish Salve and Abhishek Manu Singhvi among others wished to ..

Reliance Capital has a consolidated debt of about Rs 40,000 crore

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The Commission in 2018 had found DLF in contravention of the Competition Act for abusing its dominant position and discriminatory practices

Throws out the appeals of the beer makers, who were accused of cartelisation in the sale and supply of the beverage in various states and UTs

Infra lending firm's affidavit says it has reduced the number of entities under it from 302 to 101

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Monnet Power has a 1050 MW under-construction plant in Odisha's Angul

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The consortium won the bid to revive the grounded airline in October 2020, and its revival plan was cleared by the National Company Law Tribunal in June 2021

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The creditors of Ansal Properties have been asked to submit their claims with proof by December 1 to the interim resolution professional

The court said several companies owe GTL Infrastructure money as it has made claims of Rs 13,393 crore against Aircel and others

Parekh said the voting process of shareholders on the proposed merger has received "fair amount of votes" from shareholders already