Page 8 - Nclat

CCI cannot question pleadings of a party before a court: Amazon tells NCLAT

The US e-commerce giant made this argument related to CCI's show-cause notice issued to it in June last year

SC to hear Mistry's plea to delete remarks against him in case vs Tata Sons

Supreme Court on Monday said it would hear after 10 days the plea of CIPL for expunction of certain remarks made against Cyrus Mistry in the 2021 verdict setting aside the NCLAT's order

SC directs Amazon, Future to NCLAT for speedy disposal of CCI case

Amazon has challenged Competition Commission's order cancelling its 2019 deal with Future Coupons

SC asks Amazon, Future to urge NCLAT to decide on plea against CCI order

The bench deferred the hearing after brief arguments on being told that the NCLAT is hearing another appeal of Amazon related to the merger deal

NCLAT allows RARCL plea to initiate insolvency against Narendra Plastics

The National Company Law Appellate Tribunal on Tuesday set aside an NCLT order that rejected an appeal by Reliance Asset Reconstruction Company Ltd (RARCL) to initiate insolvency proceeding against Narendra Plastics. The NCLAT also directed the NCLT to initiate the insolvency proceedings against the company. A three-member NCLAT bench headed by Chairperson Justice Ashok Bhushan set aside the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) which on August 13, 2021, rejected RARCL's plea to initiate insolvency proceedings. The NCLT had said the RARCL's plea was barred under limitations as it was filed beyond the prescribed limit of three years after default. The tribunal had said the RARCL had filed a petition under section 7 of the Insolvency & Bankruptcy Code on May 8, 2019, while Narendra Plastics' account was declared as NPA on June 30, 2014, which was prima facie filed after more than five years. This was challenged by RARCL, which is registered as

IFIN recovers Rs 2,300 cr from third party borrowers, external investments

IFIN had placed 62 non-performing asset (NPA) accounts worth Rs 4,297 crore on sale, which was to be done through the 'Swiss Challenge' route

NCLAT adjourns hearing on Amazon plea seeking stay on CCI order to Feb 25

The two-member Bench expressed difficulty in taking up the matter on Monday, as one of the members was retiring in the next four days

IL&FS group to resolve debt of Rs 55,000 crore by March 2022

IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the NCLAT

IL&FS to distribute Rs 20,000 cr proceeds to creditors by March end

The decision of interim distribution was taken because the group is expected to have a considerable amount of distributable assets, both in cash and InvITs, by March

Adani, Jindal Power join race to buy Videocon's consumer durable business

The Adani group's surprise entry into the race has raised hopes of the lenders who are now expecting an early resolution of Videocon's Rs 64,000 crore of debt

NCLAT will hear Amazon's interim plea on CCI order on February 14

A three-member bench on Monday directed to list Amazon's plea on February 14 to pass an interim order and stay the operations of order passed by CCI in December last year

DHFL: NCLAT sets aside order that directed to consider Wadhwan's 2nd offer

The National Company Law Appellate Tribunal (NCLAT) has set aside an earlier order of the Mumbai bench of the NCLT, which had directed the administrator of the debt-ridden DHFL to put the second settlement proposal by erstwhile promoter Kapil Wadhwan before its lenders for consideration. The appellate tribunal observed that NCLT has passed directions to consider the second proposal from Wadhwan, despite the fact that the Committee of Creditors (CoC) of DHFL had already by an overwhelming majority approved the Piramal Capital & Housing Finance's resolution plan and the administrator had applied before it for its approval. Citing a recent judgement passed by the Supreme Court in the case of Ebix Singapore, the NCLAT said "there was no scope for negotiations between the parties once the CoC has approved the resolution plan". "The said exercise was beyond the jurisdiction of the adjudicating authority (NCLT), hence unsustainable and liable to be set aside," said a three-member NCLAT ..

Siva Industries bidder Vallal RCK to move SC after NCLAT rejects offer

NCLAT says will send company to liquidation as deadline of 330 days as per IBC Code is breached

Piramal Group planning to move Supreme Court against NCLAT order on DHFL

DHFL's acquisition by Piramal Group remains unaffected and the business integration continues as envisaged

NCLAT urges CoC rethink on Piramal ascribing Re 1 value to DHFL's bad loans

63 Moons Technologies had moved tribunal over the low valuation ascribed to assets worth Rs 40,000 cr, with DHFL lenders getting nothing if Piramal group recovered from these loans later

NCLAT asks CoC to consider 63 moons' plea in DHFL Resolution Plan

The NCLAT on Thursday ordered the petition to be considered by the Committee of Creditors (CoC).

Liquor makers approach NCLAT, allege abuse of dominance by KSBC

Liquor industry bodies CIABC and ADBVI have approached the NCLAT alleging abuse of dominant position by the Kerala State Beverages (Manufacturing and Marketing) Corporation in the state

NCLT to decide on rights issue plea against Trinity Alternative Investment

NCLAT has asked the Kolkata bench of NCLT to decide over the plea of SREI Infrastructure Finance against the rights issue of its subsidiary Trinity Alternative Investment Managers

NCLAT okays ArcelorMittal resolution plan for Odisha Slurry Pipeline Infra

Tribunal dismissing a raft of appeals including those filed by SREI entities

NCLAT issues stay order on insolvency proceedings against HCL Tech

Case against HCL Tech was filed with NCLT in 2019 by Sahaj Bharti Travels, which claimed HCL Tech had continued to default on its payment under minimum guarantee clause of the agreement