Page 21 - Nclt

JSW Steel may bid for Gontermann Peipers as firm gets admitted to NCLT

The cast and forged rolls maker was admitted to NCLT last December after an operational creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code

NCLAT rejects PNB's plea on Mittal Corp, asks NCLT Mumbai to decide afresh

The National Company Law Appellate Tribunal (NCLAT) has set aside an order passed by NCLT rejecting a plea filed by Punjab National Bank to initiate insolvency proceedings against Mittal Corp and directed it to decide afresh "expeditiously". A three-member bench of the appellate tribunal observed that the Mumbai bench of the National Company Law Tribunal (NCLT) had dismissed PNB's plea on the basis of a circular issued by the Reserve Bank of India (RBI) on February 12, 2018, which was not applicable in this matter. "We set aside the Impugned Order dated December 20, 2019 and remit the case to the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, with a direction to decide the Admission of the Application on merits as expeditiously as practicable," the NCLAT order said. The appellate tribunal said there was no evidence suggesting that PNB had moved NCLT to initiate insolvency proceedings based on the said circular, under which it was not eligible to file as the ..

NCLAT upholds NCLT order to initiate insolvency against Meenakshi Energy

A three-member bench has dismissed the plea filed by its director and its shareholder India Power Corporation Ltd observing that the company had committed default

NCLAT rejects plea challenging NCLT's resolution plan of Uttam Value Steel

Uttam Value Steels has an admitted debt of Rs 3,003 crore

IL&FS board faces challenges as resolution takes a Covid-19 knock

With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges

FinMin directs govt-owned banks to invoke personal guarantees of defaulters

SBI takes lead in preparing list of all defaulters, including large corporations, whose firms are under bankruptcy proceedings

Akhil Gupta's family firm bids for debt-laden Videocon Industries

Gupta, who worked for Bharti Airtel for 18 years, made the bid for Videocon via Avanti Investments, run by his son, Anubhav Gupta

No corporate insolvency proceedings once debt converted into capital: NCLAT

The appellate tribunal also said that any investment cannot be "financial debt"

NCLT approves sale of IL&FS' education assets to Falafal Technology

IIDMCC is the wholly-owned subsidiary of ITNL International Pte Limited (IIPL), which in turn is a wholly-owned subsidiary of IL&FS Transportation Networks Ltd

Gains ahead for Jio, Bharti as telco market heads towards a duopoly

Experts see the telecom sector heading towards duopoly

SC makes CEOs liable if telecom companies fail to pay AGR dues

CEO asked to furnish personal guarantee within four weeks; order alarms professional managers

Anil Ambani to move NCLAT against appointment of RP in SBI matter

Tribunal rejects submissions by Ambani counsel, says it has no option but to nominate RP within seven days of creditor filing an application

NCLT agrees to hear SBI's bankruptcy case against Anil Ambani

The ruling is the most high-profile insolvency case against a founder who pledged to pay loans on behalf of their companies

Reliance Communications' resolution in limbo as DoT raises objection

Plan approved by lenders leaves nothing for dept; NCLT adjourns hearing

Telecom dept raises objections to Reliance Communications resolution plan

The committee of creditors of Reliance Communication (RCom) approved a resolution plan, which involves lenders receiving Rs 23,000 crore

Tea company McLeod Russel moves to settle debts as promoters reduce stake

Most lenders have agree that debt restructuring is right choice and not auction under insolvency for India's largest bulk tea producer

NCLAT says no to insolvency proceedings against Gujarat Ambuja Exports

Earlier on February 17, 2020, the NCLT had dismissed the plea of Samay Impex to initiate corporate insolvency resolution process (CIRP) against GAEL

NCLAT sets aside NCLT orders approving resolution plan for Ricoh India

The NCLT had also rejected the plea of Kotak Investment Advisors raising objections against the alleged illegalities committed in the conduct of CIRP

As rival sweetens bid, JSW Steel hits hurdle to acquire Asian Colour

Interups offers Rs 2,000 crore in NCLT against JSW's Rs 1,550-cr bid

Tata Sons withheld facts on turning private: Mistry firms tell SC

The SC will hear the petitions filed by both the Mistry family and Tata Group next month