Page 11 - Nclat

Jet Airways staff unions challenge resolution plan, file appeal in NCLAT

Kalrock-Jalan consortium proposed a sum of Rs 52 crore to settle admitted employee claims of Rs 1,265 crore

Siva industries' IBC proceedings: Lenders to appeal against NCLT order

The lenders plan to move the NCLAT as NCLT slammed the banks repeatedly for not voting on the one time settlement proposal made by the promoters

Hindustan Paper Corp under liquidation on directions of NCLT, NCLAT: Govt

In a written reply, MoS Krishan Pal Gurjar said that Cachar Paper Mill, Panchgram and Nagaon Paper Mill, Jagiroad are mills of HPC in Assam and are presently non-operational.

Videocon's Venugopal Dhoot moves NCLAT against Deloitte, CoC and Vedanta

Videocon sold at a huge discount to Vedanta, says Dhoot

NCLAT refuses to stay Piramal Group's resolution plan for DHFL

A two-member ben­ch presiding over the case said, "We do not think that any int­erim order as sou­ght with regard to resolution plan app­roved needs to be passed."

NCLAT declines to stay Piramal Capital's approved resolution plan for DHFL

The National Company Law Appellate Tribunal (NCLAT) on Friday declined to stay the resolution plan of Dewan Housing Finance Corporation Ltd (DHFL) and its subsequent takeover by the successful bidder Piramal Capital & Housing Finance over the plea filed by 63 Moons Technologies. A two-member bench comprising its Officiating Chairperson Justice A I S Cheema and Member Alok Srivastava rejected 63 Moons Technologies' plea to pass an interim order staying the resolution plan approved by the Mumbai bench of National Company Law Tribunal (NCLT). Earlier on June 7, the NCLT had approved the resolution plan of Piramal Capital & Housing Finance Ltd for the debt-ridden DHFL and 63 Moons, which is a debenture holder of DHFL, filed a petition challenging it before NCLAT. It had requested to stay the operations of the NCLT order, till the two appeals filed by it before the appellate tribunal is decided. However, the NCLAT said: "We do not find that these are Appeals where interim order ...

NCLAT stays NCLT's nod to Twinstar's resolution plan for Videocon Group

Development follows an appeal by Bank of Maharashtra, a dissenting creditors. Matter is slated to be heard on September 9

NCLAT stays liquidation of Three C Homes; asks NCLT to consider options

The National Company Law Appellate Tribunal has set aside NCLT's direction to liquidate Three C Homes and ordered that other options be considered for resolution of the debt-ridden realty firm.

NCLAT closes insolvency proceedings against Oyo and its subsidiary

NCLAT has closed proceedings for insolvency of Oyo's subsidiary Oyo Hotels and Homes Private Limited and allowed Oyo's plea for setting aside the Insolvency and Bankruptcy Code case against OHHPL.

NCLAT issues notices to lenders, Piramal on 63 Moons Technologies' plea

The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notices to DHFL's lenders and its winning bidder Piramal Capital over a petition filed by 63 Moons Technologies challenging the resolution process of the debt-ridden firm. A two-member bench comprising its Officiating Chairperson Justice A I S Cheema and Member Alok Srivastava issued notices to the lenders of Dewan Housing Finance Corporation Ltd (DHFL) and its successful bidder Piramal Capital & Housing Finance Ltd. The appellate tribunal has directed all parties to file their replies before July 19, which is the next date of hearing. Earlier on June 7, the Mumbai bench of the National Company Law Tribunal (NCLT) had approved the resolution plan of Piramal Capital & Housing Finance Ltd for the debt-ridden DHFL. 63 Moons, which is a debenture holder of DHFL, has filed a petition challenging the NCLT order. It holds non-convertible debentures (NCDs) worth over Rs 200 crore issued by DHFL. According to it, the

NCLAT issues notices to CoC, DHFL and Piramal on 63 moons plea

The NCLAT agreed to hear the petition by 63 moons technologies, challenging the NCLT's nod for Piramal's resolution plan.

Best of BS Opinion: No backdoor entry, lab-leak hypothesis, and more

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

No backdoor entry

Promoters should not be allowed to delay insolvency resolution

Kapil Wadhawan moves SC over NCLAT stay against his Rs 91,000-cr DHFL offer

NCLAT was scheduled to hear the reply of Wadhawan on June 25, but he moved SC before that

Games promoters play

If a promoter knows that he can afford not to repay loans and buy back his company in the bankruptcy court at a discount with a reduced debt burden, he has a strong incentive to drive his firm aground

NCLAT stays NCLT order asking CoC to consider Kapil Wadhawan's offer

NCLAT clarified that such appeals should not come in the way of the NCLT deciding on the approval of the resolution plan given by the Piramal Group which has already been approved by the lenders.

DHFL resolution: Lenders move NCLAT against Kapil Wadhawan's offer

The committee of creditors cannot do it. Also, it requires a high threshold of approvals from the CoC.

Reliance Communication headed for liquidation after NCLAT judgment

Debt resolution only after clearance of govt dues, says tribunal

NCLAT's dismissal of DVI appeal may pave the way for Amtek resolution

Amtek owes lenders Rs 12,641 cr and was on RBI's first list of NPAs mandated for resolution under Bankruptcy Code. The DVI bid is said to be Rs 2,615 cr, of which Rs 500 cr is upfront cash

Spectrum can be transferred but not without settling dues, says NCLAT

Since the questions posed by the apex court has been dealt with by the tribunal now, the appeals by the DoT will be heard by the NCLAT on April 26