NCLAT

The National Company Law Appellate Tribunal (NCLAT) on Monday extended the time till September 30 for Jalan-Kalrock Consortium for payment of Rs 350 crore to the lenders of the bankrupt Jet Airways

Google case can guide future investigations

TMS Ep402: NCLAT relief to Google, T20 WPL, markets, Trump indictment

How will NCLAT relief to Google affect you? What next for the Women's Premier League? Which factors will guide markets in FY24? Why has Donald Trump been indicted? All answers here

Appellate tribunal NCLAT's ruling in the Google matter will open the market for "free innovation" and will resonate as part of the global theme on abuse of dominance, Additional Solicitor General N Venkataraman has said. Venkataraman, who led the legal battle on behalf of the Competition Commission of India (CCI) against Google in the Android matter, also asserted that the six directions of the regulator that were upheld by the NCLAT cover almost 99 per cent of the remedies recommended to address the unfair business ways. "When abuse of dominance goes, it allows for free and fair market play for scientific development and innovation. There is more choice for startups, OEMs (Original Equipment Manufacturers) and consumers. The status quo bias will go. "The National Company Law Appellate Tribunal (NCLAT) order has set the foundation for the twin vision of Make In India and startup growth," Venkataraman told PTI in an interview here. Ruling on Google's appeal against the CCI's order i

National Company Law Appellate Tribunal Chairman Ashok Bhushan on Saturday said the country's legal framework must be robust enough to handle the challenges that come with economic development. The Insolvency and Bankruptcy Code, 2016 (IBC) unveiled by the Centre is a significant step in that direction, Bhushan said at the inauguration of the renovated court premises of NCLAT Chennai Bench by Union Finance Minister Nirmala Sitharaman here. The IBC is a comprehensive legislation that seeks to address the issue of insolvency and bankruptcy holistically. It is aimed at protecting all the stakeholders and also seeks to promote entrepreneurship by providing a more streamlined and efficient process for resolving insolvency, he said. "Former Union Minister of Finance the late Arun Jaitley pioneered the enactment of Insolvency and Bankruptcy Code in 2016. India's economy is the fastest growing in the world and as it grows it must ensure that its legal framework is robust enough to handle th

The National Company Law Tribunal approved the plan for the Adani Group subsidiary to pay 14.85 billion rupees ($181 million) to financial creditors, the company said in a statement Saturday

Present competition law does not provide for effects analysis. Conducting one would mean letting anti-competitive practices continue and taking action once adverse effects have already been created

In which we munch over the week's platter of news and views

But fees charged by Google for app purchases remain a concern

Insolvency appellate tribunal NCLAT has dismissed the plea of Jindal Stainless Ltd, one of the bidders for debt-ridden Mittal Corp, challenging the issuance of a fresh Request for Resolution Plan (RFRP) by the lenders. A two-member NCLAT bench observed the lenders of Mittal Corp were "empowered to issue fresh RFRP" when none of the resolution plans had been approved by the committee of creditors (CoC). The lenders have already approved the bids of rival Shyam Sel and Power Ltd (SSPL) and an application has already been moved by the Resolution Professional (RP) before the Mumbai bench of the National Company Law Tribunal (NCLT) seeking its approval. NCLAT said issues raised by Jindal Stainless subsequent to February 10, 2023, when RFRP was issued, need no consideration. The tribunal further added it is open for Jindal Stainless to file an objection over the application filed by the RP before NCLT for approval of SSPL bid. The appellate tribunal said that its previous order of Janua

NCLAT upholds competition watchdog's observation that Google misused dominant position in Android ecosystem

On February 22, the Mumbai bench of the NCLT had admitted the bank's insolvency plea against ZEEL

The NCLAT bench comprising chairperson Justice Ashok Bhushan and member Alok Srivastava said that the CCI investigation was not in violation of the principles of natural justice

After the apex court refused to grant interim relief to Google on January 19, the matter was sent back to NCLAT for the final order by March 31

The NCLAT on Monday concluded its hearing over the petition filed by Google, in which the tech giant challenged the Competition Commission's order imposing a Rs 1,337.76 crore penalty for anti-competitive practices in relation to Android mobile devices. A two-member bench of the National Company Law Appellate Tribunal (NCLAT) was conducting the hearing on a day-to-day basis for over a month. "Heard Learned Counsel for the parties. Hearing is completed. Judgment Reserved," said the NCLAT bench comprising Chairperson Justice Ashok Bhushan and Member Alok Srivastava. On October 20 last year, the Competition Commission of India (CCI) slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices. The regulator had also ordered the internet major to cease and desist from various unfair business practices. This ruling was challenged before the National Company Law Appellate Tribunal (NCLAT), which is an appellate authority over the .

COC to meet today, second auction likely to be held on March 29, say lawyers privy to the matter

In a report on Thursday, Bloomberg said that the media company has agreed to repay its dues to the IndusInd Bank to resolve insolvency proceedings against it

Fair trade regulator CCI on Thursday alleged that Google has created a digital data hegemony and called for a market space with "free, fair and open competition". Concluding the arguments of the Competition Commission of India (CCI) before the appellate tribunal NCLAT in the Google matter, Additional Solicitor General N Venkataraman said a market with greater freedom for all players would be in total sync with principles of free competition rather than the 'walled garden' approach of the internet major. On October 20 last year, the CCI slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices. The regulator had also ordered the internet major to cease and desist from various unfair business practices. This ruling has been challenged before the National Company Law Appellate Tribunal (NCLAT). On Thursday, Venkataraman submitted that Google had used its money-spinning search engine as the 'castle' and the rest of the other a

Argues that competition law puts onus on Google not to abuse its dominant position and not allow its conduct to impair genuine undistorted competition

Jaiprakash Associates has approached the insolvency appellate tribunal NCLAT against the NCLT order relating to the distribution of Rs 750 crore in the Jaypee Infrastructure matter. The amount was deposited with the Supreme Court registry by Jaiprakash Associates Ltd (JAL), the erstwhile promoter of Jaypee Infratech Ltd (JIL), which is going through insolvency proceedings since August 2017. JAL had challenged the NCLT order over the distribution of money, sources said. As per the NCLAT cause list, the matter between JAL and JIL is scheduled for hearing on Tuesday before a two-member bench of the National Company Law Appellate Tribunal (NCLAT). In an order on March 7, the National Company Law Tribunal (NCLT) approved the Mumbai-based Suraksha group's bid to buy Jaypee Infratech Ltd (JIL), a development that comes as a relief for more than 20,000 homebuyers nearly six years after the debt-ridden company entered into the insolvency process. In its 491-page order, the NCLT had directe