Page 31 - Nclt

Identifying the SBOs: Why lifting corporate veil may not be easy

According to experts, there could be implementation challenges in the identification of an SBO, defining 'indirect shareholding' of an individual, and identifying 'majority stake'

Lenders unwilling to provide extra funds to grounded Jet Airways

Sources said the resolution professional had not got any bids for the airline so far

Allahabad Bank reports Q1 net profit of Rs 128 cr on good credit growth

The gross NPA of the bank, as a percentage of its total lending, stood at 17.43 per cent in the last quarter

Companies Act amended to include penal provisions for CSR norm violations

Under the Act, certain class of profitable companies are required to shell out at least two per cent of their three-year annual average net profit towards CSR activities

IBC Bill: Pressure on NCLT benches as 330-day deadline for resolution looms

Big IBC cases such as those of Amtek Auto, Bhushan Power & Steel, Era Infra Engineering, and Jaypee Infratech have gone well beyond the 270-day deadline set under the IBC

NCLAT stays NCLT order approving Dhanuka Lab's resolution plan for Orchid

The CoC had selected the proposal of Dhanuka Laboratories and gone ahead with the voting even as Accord Life Spec approached the NCLT against CoC's decision

The Jet Airways insolvency case brings to fore grey areas in aviation law

One of the issues is how long the airline can enjoy rights over its parking slots at airports

Jet headquarters' owner Luckystar moves NCLT to get possession

The airline has its registered office in Siroya Centre, located in Andheri suburb of Mumbai, which is worth Rs 150 crore

Can we pass an arrest order under insolvency law, NCLAT asks Centre

Section 74(3) of the IBC stipulates that officers of those companies who knowingly and wilfuly contravene the terms of the resolution plan should be sentenced to imprisonment

A killer judgment

India must guard against perverse bankruptcy judgments, such as the one on Essar Steel

A swift response

Govt has moved fast to address IBC problems

IBC amendments may make resolution faster but raise inter-govt conflicts

Several government bodies have questioned the validity of resolution plans that reduces their claims

IL&FS case: NCLT allows MCA to prosecute Deloitte Haskins, BSR Associates

Other individuals allowed by the tribunal to be prosecuted include partners of audit firm Deloitte Udayan Sen, Kalpesh Mehta, and Sampath Ganesh, partner in BSR Associates

If not quashed, Essar Steel ruling can unravel India's insolvency reform

The ruling can make credit costs for India Inc. surge, shares of state-run banks swoon and foreign investors flee

JetLite employees plan to move NCLT for inclusion of their dues in Jet case

Cash-starved Jet Airways, which shuttered operations on April 17, is undergoing insolvency proceedings after a SBI-led consortium of lenders moved the NCLT to recover their dues

Letter to BS: Secured creditors' payout rights must not be diluted

The concept of the financial market has been shaken due to the treatment of secured and unsecured creditors

IL&FS case: NCLT reserves order on accounts of Bawa's wife and daughter

Ex MD&CEO of IL&FS financial services Ramesh Bawa's wife and daughter had filed a plea to de-freeze their assets as they were not charged in the Serious Fraud Investigation Office led probe

Ex-IL&FS chief Bawa's wife, daughter move NCLT to defreeze bank accounts

Hearing both the sides, NCLT reserved its order without mentioning the date for next hearing

NCLT orders insolvency proceedings against C Sivasankaran's company

The loan was taken by Siva Ventures Ltd, which was merged with Siva Industries & Holdings Ltd with effect from April 1, 2011.

HDFC moves NCLT to keep mortgaged Jet Airways HQ out of bankruptcy process

The consortium of 26 bankers led by State Bank took the grounded Jet Airways to NCLT to recover their dues of over Rs 8,500 crore