Page 22 - Nclat

NCLAT asks govt to submit list of firms with their financial categorisation

The National Company Law Appellate Tribunal (NCLAT) has asked the government to provide a list of IL&FS group companies along with their categorisation based on their respective financial positions to pay their debt. The government had Monday submitted the debt resolution plan for crisis-hit IL&FS to the NCLAT and also suggested the name of retired Supreme Court judge Justice D K Jain to supervise the entire process. The entire resolution process would be based on the principles enunciated in the Insolvency and Bankruptcy Code. Under the plan, the government has categorised IL&FS group companies into green, amber and red based on their respective financial positions. "The Union of India will also submit lists of companies who are in the group of 'green', second list of the companies who are in the group of 'amber' and third list of Companies who are in the group of 'red' having registered office in India by the next date," said NCLAT. A two member bench of NCLAT headed by .

Will take action against firms such as Liberty House: NCLAT

NCLAT observations came during insolvency hearing of ARGL, a subsidiary of Amtek Group

NCLAT defers hearing on a contempt petition against Anil Ambani

The plea has been moved by HSBC Daisy Investments (Mauritius) and other minority shareholders over an alleged default in payment of Rs 230 crore

NCLAT to hear contempt plea against Anil Ambani over payment default

HSBC Daisy moved the appellate tribunal over alleged default of payment of Rs 230 crore by Reliance Infratel.

No need to hear out 3rd party during insolvency admission, NCLAT tells NCLT

In its order, the NCLAT also asked NCLT Kolkata to admit insolvency application moved against Odisha Slurry Pipeline Infrastructure if there is a clear case of debt owed to the bank

Not necessary to start insolvency against principal borrower first: NCLAT

It also held that the corporate guarantee provided was joint and co-extensive with that of the principal debtor

NCLAT asks Walmart to submit details of its merger with Flipkart

The CCI had in August cleared the $16-billion deal

Bhushan power insolvency: NCLAT allows bidders to revise offers by Monday

On Wednesday, the tribunal also said that the operational creditors' concerns of getting a better share would have to be looked into

NCLAT reserves order over Bhushan Steel, challenging sale to Tata Steel

The National Company Law Appellate Tribunal today reserved its order over plea filed by former promoter of Bhushan Steel challenging the sale of the debt-ridden company to Tata Steel under the Corporate Insolvency Resolution Process. The appellate Tribunal has also reserved order over pleas of engineering firm Larsen & Toubro Ltd, an operational creditor of Bhushan Steel, which has supplied goods worth Rs 900 crore to the company. A two-member bench headed by Chairman Justice S J Mukhopadhaya has said that the parties, which also includes Bhushan Energy, may file their written submissions by tomorrow. In May, the Principal bench of the National Company Law Tribunal (NCLT) had approved Tata's Rs 32,500 crore deal along with 12.27 per cent equity to the lenders. This was challenged before the NCLAT by the promoters, including Neeraj Singhal, and operational creditors of the company. Nearly 1,700 other operational creditors of Bhushan Steel has also moved the appellate tribunal ...

NCLAT junks cement-makers' plea against CCI's Rs 67-bn cartelisation fine

The appeals are dismissed, said the NCLAT, which now is an appellate authority over the Competition Commission of India (CCI)

NCLAT ruling on rule waiver: Cyrus Mistry says 'vindicated'

The NCLAT allowed plea by Mistry firms seeking the waiver in filing case of oppression and mismanagement against Tata Sons

NCLAT's Inox Wind order a precedent

Tribunal declares insolvency proceedings against corporate debtor Inox Wind 'illegal'

Can NCLAT cope with competition?

According to the Finance Act, 2017, the functions of Compat are being shifted to the NCLAT