Supreme Court sets aside NCLAT order reinstating Cyrus Mistry as Tata Sons chairman

In a major development, the Supreme Court on Friday (March 26, 2021) set aside the December 2019 ruling of the National Company Law Appellate Tribunal (NCLAT) that had directed the reinstatement of Cyrus Mistry as Tata Sons chairperson.

Mar 26, 2021, 12:11 PM IST

NCLAT dismisses DoT's plea in Aircel licence moratorium matter citing delay in appeal

The National Company Law Appellate Tribunal (NCLAT) has dismissed the telecom department's plea citing delay in appeal against the NCLT order which held that the spectrum and licence of debt-ridden Aircel cannot be taken away during the insolvency resolution period.

Mar 08, 2020, 16:56 PM IST

Supreme Court stays NCLAT order restoring Cyrus Mistry as Executive Chairman of Tata Sons

The Supreme Court on Friday (January 10) stayed the National Company Law Appellate Tribunal (NCLAT) order that restored Cyrus Mistry as executive Chairman of Tata group. The apex court also issued a notice to Mistry and summoned him to answer questions raised by Tata's lawyer in a plea filed against the NCLAT order.

Jan 10, 2020, 12:34 PM IST

Cyrus Mistry says will not take up chairmanship of Tata Sons

He said that his decision has been made in the interests of the Tata Group, "whose interests are far more important then the interests of any individual".

Jan 05, 2020, 18:51 PM IST

Tata Sons moves SC challenging NCLAT order reinstating Cyrus Mistry as company’s executive chairman

Setting aside a lower court order, the NCLAT also quashed the conversion of Tata Sons into a private company from a public firm.

Jan 02, 2020, 11:45 AM IST

NCLAT reinstates Cyrus Mistry as executive chairman of Tata Sons

NCLAT bench headed by chairperson Justice SJ Mukhopadhaya also held the appointment of Natarajan Chandrasekaran as illegal.

Dec 18, 2019, 16:03 PM IST

NCLAT allows promoters to regain control of firms at liquidation stage

In the liquidation case pertaining to Sterling Biotech, the NCLAT has set aside a bankruptcy court order to liquidate a debt-ridden company while allowing its promoters to take back control of the firm after making full payment to the lenders.

Sep 04, 2019, 15:26 PM IST

SC extends status quo on Jaypee insolvency resolution

On August 2, the Supreme Court ordered status quo for two weeks on Jaypee Group's plea against NCLAT's order after it was informed that Parliament had passed the proposed amendments in the Insolvency and Bankruptcy Code.

Aug 23, 2019, 09:54 AM IST

NCLAT asks Jet CoC if it will work with Dutch administrator

The debt-riddent Jet Airways is facing insolvency proceedings in The Netherlands too. It was declared bankrupt there after it had failed to pay two European creditors. The Dutch court subsequently appointed a bankruptcy administrator.

Aug 22, 2019, 11:07 AM IST

Jaypee homebuyers still hoping for dream houses

The National Company Law Appellate Tribunal (NCLAT) on Tuesday extended the resolution period of debt-ridden Jaypee Infratech for another 90 days.

Aug 01, 2019, 12:17 PM IST

ICICI seeks direction on NCLT Allahabad for early hearing on insolvency plea against JAL

In September 2018, ICICI Bank had filed a petition before the Allahabad bench of National Company Law Tribunal (NCLT) seeking to start insolvency proceedings of JAL, which is into infrastructure and real estate.

Jun 17, 2019, 13:22 PM IST

NCLAT annuls creditors' voting on NBCC's bid for Jaypee Infratech

Hearing a plea by IDBI Bank, seeking a stay or annulment of the voting process, a three-member NCLAT bench headed by Chairman Justice S J Mukhopadhaya also allowed nine homebuyers' associations representing around 5,000 buyers to file intervention application.

May 18, 2019, 17:47 PM IST

NCLAT dismisses insolvency plea against SpiceJet

The appellate tribunal said there was nothing on record to suggest that the demand notice relating to invoices issued by Ramco System was forwarded or received by Spicejet.

May 13, 2019, 11:25 AM IST

NCLAT allows banks to declare defaulting ILFS accounts as NPAs

A bench headed by Chairman Justice S J Mukhopadhaya lifted the embargo on the banks to declare the accounts of the debt-ridden IL&FS and its 300 group entities, which are unable to pay their debt.

May 03, 2019, 09:52 AM IST

NCLAT may ask ArcelorMittal to deposit Rs 42,000 cr bid amount for acquiring Essar Steel

A two-member bench headed by Chairman Justice S J Mukhopadhaya said that ArcelorMittal may have to deposit the money in a separate account either before the NCLAT or NCLT Ahmedabad-bench.

Apr 09, 2019, 17:27 PM IST

RBI seeks modification of NCLAT order in ILFS case

A two-member NCLAT bench, headed by Justice S J Mukhopadhaya, has said that it would hear the RBI on the issue.

Mar 19, 2019, 18:02 PM IST

NCLAT gives conditional nod to ArcelorMittal's Rs 42K cr plan for Essar Steel

A two-member bench headed by Justice S J Mukhopadhaya said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company.

Mar 18, 2019, 16:08 PM IST

NCLAT reserves order in RCom-Ericsson payment case

Lenders of RCom have opposed the plea, saying that it will lead to outgo of public money for settling payment of a private party.

Mar 14, 2019, 12:34 PM IST

Investors oppose RCom's plea to use IT refunds to settle Ericsson's dues at NCLAT

The NCLAT was hearing RCom's plea, which has approached the appellate tribunal seeking waiver over the moratorium placed by it on February 4.

Feb 28, 2019, 13:09 PM IST

NCLAT adjourns RCom's plea for insolvency to March 6

On February 4, the NCLAT had allowed telecom gear maker Ericsson India to file its objection by February 8 over Reliance Communications' plea to proceed with insolvency process.

Feb 13, 2019, 10:11 AM IST