Page 4 - National Company Law Tribunal

Jet Airways staff association challenges resolution plan before NCLAT

All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline

SC dismisses plea to review removal of Cyrus Mistry as Tata Sons head

The genesis of the dispute can be traced to the removal of Mistry as executive chairman of Tata Sons in 2016

Centre set to put Pawan Hans sale on hold over winning bidder concerns

This is the second instance where a disinvestment exercise has been put on hold after completion of the process due to allegations against the reputation of the winning bidder

Future Retail MD Rakesh Biyani steps down, Company Secretary resigns

The Future Group flagship firm is facing an insolvency petition by its lenders before the National Company Law Tribunal

Shareholders, creditors approve Jindal Stainless Steel-JSHL merger

Having a total melting capacity of 0.8 million tonne per annum (MTPA), the Hisar-based JSHL is the largest specialty stainless steel producer in India with a diversified value-added product portfolio

Yes Bank files plea for insolvency proceedings against Zee Learn

The company said that Yes Bank Ltd has allegedly claimed that the total amount in default with respect to a financial facility is Rs 468 crore

Future group on brink of collapse, lenders begin work to take firms to NCLT

Banks have already made provisions for loans give to entities like Future Retail and Future Enterprises

NCLT has disposed of 62,000 cases out of about 83,000 filed: Official

The National Company Law Tribunal (NCLT) has disposed of nearly 62,000 cases out of nearly 83,000 cases filed before it, Rajesh Verma, Secretary, Ministry of Corporate Affairs said on Saturday.Addressing a national level Colloquium on the subject 'NCLT- The Road Ahead' organised by the NCLT, Verma said NCLT is an institution of pride and it has led to faster resolution of corporate disputes under the Company Act and the Insolvency & Bankruptcy Code (IBC).Verma emphasised that the IBC Code has seen a roller coaster ride with six amendments that have been made in the main legislation so far. He further stated that many provisions of IBC have come out unscathed when challenged (in the higher courts) and the Supreme Court of India had settled the jurisprudence on various aspects of this new law at an unprecedented pace and passion.In his address as the chief guest, Justice (retd) Ramalingam Sudhakar said that India is envisioning a multi-trillion dollar economy. Industry and ...

SC allows Future Retail to move HC to seek resumption of NCLT proceedings

Senior advocate Harish Salve, representing Future Retail, argued that the proceedings before the NCLT have reached the stage listed at serial no 8 (meeting of the shareholders and creditors)

SC junks Devas Multimedia's appeal against NCLAT order to wind up company

The Supreme Court junked an appeal filed by Devas Multimedia challenging an order to wind up the company

Hughes, Airtel form JV to provide satellite broadband services in India

Combined India VSAT operations of both companies to offer wide range of satellite and hybrid network solutions to business and government customers

Centre says taking all steps to strengthen National Company Law Tribunal

19 new members have been appointed at the tribunal recently

Axis MF, Inversion Advisory launch AIF to invest in underperforming firms

Plans to raise Rs 3,500 cr; Axis AMC to be investment manager of the fund, Inversion to provide operational and turnaround expertise

Resolution plan submitted before NCLT can't be modified or withdrawn: SC

The Supreme Court on Monday held that CoC approved resolution plan submitted to the National Company Law Tribunal (NCLT) cannot be modified or withdrawn as it would create another tier of negotiations

Siva tests IBC: NCLAT's choice between judicial wisdom & commercial wisdom

Siva Industries, a machinery part-maker, was admitted to the bankruptcy court on July 5, 2019

NCLT admits application for initiating CIRP against McLeod Russel

Once the world's largest tea producer, McLeod Russel, part of the Brij Mohan Khaitan group company, is now India's largest with about 31 estates

Best of BS Opinion: Repeal UAPA, bankruptcy process needs a re-look & more

Here are the best of Business Standard's opinion pieces for Friday

Bankruptcy process needs a re-look

A mechanism is needed to ensure bank-led resolution- not the NCLT- is the first resort for lenders

Headless NCLT awaits reforms to speed up resolution of pending cases

Over 20K cases pending and more than half linked to insolvency, bankruptcy

Siva lenders to receive Rs 5 crore cash upfront, take 94% haircut

To receive Rs 318 crore of total dues amounting to Rs 4,863 crore