Page 15 - Nclt

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.

The other side of IBC

Any restructuring of stressed accounts outside the IBC would not look credible till the performance of PSBs improves

Govt introduces a Bill in the Lok Sabha to amend insolvency law

The government on Monday introduced a bill in the Lok Sabha to amend the insolvency law and provide for a pre-packaged resolution process for stressed MSMEs. The proposed amendments would enable the government to notify the threshold of a default not exceeding Rs 1 crore for initiation of pre-packaged resolution process. The government has already prescribed the threshold of Rs 10 lakh for this purpose. The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 -- which was introduced by Corporate and Finance Minister Nirmala Sitharaman -- will replace the ordinance that was promulgated on April 4 as part of efforts to provide relief for MSMEs adversely impacted by the pandemic. The bill, which was introduced in the Lower House amid Opposition din over various issues, seeks to have a new chapter in the Code to facilitate pre-packaged insolvency resolution process for corporate persons that are Micro, Small and Medium Enterprises (MSMEs). Generally, under a pre-packaged process, main

Suraksha ARC promises to restart stalled Jaypee Infra projects soon

Will infuse working capital funds, deploy a new tech team to revive stalled work; plans to collect dues from home buyers and monetise unsold inventory to expedite construction

SC junks PIL to declare that NCLT cannot act as appellate authority

Supreme Court has declined to entertain a PIL seeking to declare NCLT cannot act as an appellate authority to decisions of the top court and find flaws so as to circumvent the "rule of law" laid down

Bankruptcy award: Why Videocon's oil & gas biz could come into focus

Why the group's oil and gas business could come into focus in the controversy over the bankruptcy award

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

Comply with order once moratorium ends

NCLT Mumbai Bench's moratorium order was effective from December 3, 2018, to May 2, 2020.

Banks may encounter legal hurdles in invoking personal guarantees

Experts say most promoters don't register assets under their names

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.

95% Jet staff must consent to Kalrock-Jalan proposal or lose benefits

Voting on the consortium's offer for employees and workmen began on Monday and will go on till August 4

Brazen gaming of bankruptcy process on

According to the data from the Insolvency and Bankruptcy Board of India (IBBI), in over 363 major NCLT resolutions since 2017, banks have taken an average loss of 80 per cent

Financial creditors to take 95% haircut on Rs 7,800 cr Jet Airways dues

Jalan-Kalrock to pay only Rs 385 crore; NCLT asks govt to make slots available for new owners in order to successfully revive the airline

Devas will pursue its rights in courts around the world: Matthew D McGill

The only urgency is coming from the Indian government, which has taken outrageous actions to evade payment of the award, and expropriate Devas, says McGill

Making sense of crisis-hit Jet Airways' juggle for key airport slots

The Kalrock-Jalan consortium, whose proposal got the NCLT nod, hopes to restart Jet Airways as a full service airline with 25-30 aircraft

Suraksha group may have to cross legal hurdles to take control of Jaypee

With Jaypee in its kitty, Suraksha will get highly visible assets such as the Noida-Agra Expressway and the land bank around the expressway, and 730-bed hospitals in Noida and Bulandshahr

NCLAT declines US firm's plea against Piramal group's bid for DHFL

The NCLAT termed the plea "premature", given that it approached the appellate tribunal without getting a decision on its petition filed before the Mumbai Bench of the NCLT

Suraksha group beats NBCC India in close race to buy Jaypee Infratech

It's a photo finish with Suraksha getting 98.66% votes, while NBCC gets 98.54%

CoC rejects DHFL's proposal for raising payout to small investors

The Mumbai Bench of the NCLT approved Piramal Group's resolution plan for the beleaguered DHFL on June 7.

Long haul ahead

Jet Airways revival will be a challenge for new owners