Page 3 - National Company Law Tribunal

Adani Ports receives NCLT approval to acquire 58.1% in Gangavaram Port

Deal to be a share swap, with issuance of 47.7 million APSEZ shares to the erstwhile GPL promoters; post-transaction, GPL will become a fully-owned subsidiary of APSEZ

EPFO looks to hire law firms to provide legal opinion, associated services

The approved law firms will be empanelled with the EPFO headquarters in New Delhi for an initial period of one year, which can be extended to three years

SBI files 'insolvency petition' against Jaiprakash Associates in NCLT

JAL is involved in cement manufacturing, engineering and construction, expressways, real estate, hospitalities, wind/thermal power plants at various locations all over India.

Ahead of IDBI privatisation, Centre working on tightening disclosure rules

Bidders will have to share the details of legal proceedings against them, if any, until the completion of sale transactions

PVR shareholders to mull Inox merger on Oct 11, creditors' meet same day

Investors' meet over videoconference comes after Mumbai NCLT's directive to PVR; both Inox Leisure and PVR had said this June that they had received clearances for their merger NSE and BSE

After lay-offs, edtech startup Lido Learning files for insolvency

Lido Learning's board of directors has passed a special resolution to file an application under section 10 of IBC, 2016

Bad loan recovery process can get worse

Apart from creating a distinction between financial creditors and operational creditors, the latest Supreme Court judgment also leads to the creation of a new category of default - temporary default

Lenders agree to RNTL-Reliance Industries' takeover deal: Report

Two years after the deal was approved by the NCLT, banks led by the State Bank of India (SBI) have agreed to issue a no objection certificate (NOC) to Mukesh Ambani-owned Reliance Industries

Top Headlines: Common charger for all mobiles; banks rush to woo depositors

At a time when growth in bank credit is outstripping that of deposits, several lenders, including the country's largest bank, State Bank of India (SBI), have raised deposit rates ahead of the festival

Future Ent to quantify receivables from FRL and submit claims before IRP

The National Company Law Tribunal on Wednesday ordered insolvency resolution proceedings against Future Retail

Defaulting firm's debt includes both principal and interest: NCLAT

Case related to a company that challenged insolvency proceeding against it for delaying payments to borrower

Lenders in talks with ARCs to sell Reliance Naval & Engineering loans

Lenders worried over their Rs 14,000-cr exposure in shipyard

Power to admit insolvency application not binding even when debt owed: SC

The bench said NCLT failed to appreciate the question of time-bound initiation and completion of corporate insolvency resolution process could only arise if companies were bankrupt or insolvent

Insolvency regulator working to bring mediation in insolvency cases

A source privy to IBBI's discussion said mediation might address the issue of courts delaying the insolvency process.

Some gaps in ILC recommendations on resolution process, say experts

Report seen as unclear on who should pursue cases related to avoidable transactions and improper trading under bankruptcy code

Realty firm Supertech plans Rs 300-crore fundraise for ongoing projects

On June 10, the NCLAT ordered starting of insolvency proceedings in only one of the housing projects of realty firm Supertech and not the entire company

Will Amazon be able to overcome challenges to its expansion plans in India?

A tougher global e-commerce environment and repeated policy and regulation problems are raising questions about the company's India expansion plans

Supreme Court adjourns plea challenging tenure of NCLT judges

The Centre on May 25 had told the apex court that a Committee chaired by the Chief Justice of India held a meeting on April 20 in which the question of the tenure of 23 members of NCLT was discussed

Regulations and disclosures

No room for arbitrary distinction between foreign & domestic retailers

NCLT allows insolvency proceedings against National Textiles Corp

The National Company Law Tribunal (NCLT) has ordered to initiate insolvency proceedings against state-run National Textile Corporation (NTC) after admitting a plea by one of its operational creditors claiming default of around Rs 14 lakh. The New Delhi bench of the NCLT has also appointed Amit Talwar as an interim resolution professional (IRP), suspending the board of NTC and has also declared a moratorium against the PSU as per the provisions of the Insolvency & Bankruptcy Code (IBC). A two-member NCLT bench also rejected the claims of NTC and said the dispute it raised over the due amount claimed by its operational creditor is merely a "moonshine dispute and said default has occurred for the payment. This is probably for the first time since the code has come into effect that insolvency proceedings against a central government-owned public sector unit (PSU) has been initiated. NTC is under the jurisdiction of the Ministry of Textile, Government of India. It is engaged in the ...