NCLT

Supreme Court slams government for 'cherry-picking' in tribunal appointments

The Suprem Court bench said, "not happy about how Centre has acted on recommendations of search cum selection committees for appointments in various Tribunals." 

Sep 15, 2021, 18:36 PM IST

Videocon fraud case: NCLT orders freezing, attaching of assets owned by firm’s promoters

NCLT Mumbai bench has directed CDSL and NSDL to freeze the securities owned or held by the Videocon promoters "in any company or society." 

Sep 01, 2021, 15:20 PM IST

NSE suspends trading of DHFL shares from June 14, here's why

On June 8, DHFL had already informed the exchange regarding the approval of the resolution plan by the National Company Law Tribunal (NCLT), Mumbai bench which provides for delisting of equity shares of the company, NSE said.

Jun 12, 2021, 21:22 PM IST

Cafe Coffee Day on the verge of bankruptcy? India's popular hangout chain has a debt of Rs 280 crores

Cafe Coffee Day (CCD), which is India’s favourite hangout place is possibly at the verge of bankruptcy. According to a Business Standard report, this extremely popular café chain is has a whopping debt of Rs 280 crores.

Apr 08, 2021, 15:09 PM IST

Fact check: Oyo did not apply for bankruptcy, clarifies CEO

Oyo CEO Ritesh Agarwal denied claims via a series of tweets and said that OYO has not filed for bankruptcy. THe NCLT order pertains to the Ahmedabad entity and not exactly for Oravel Stays Pvt Ltd.

Apr 07, 2021, 13:24 PM IST

NCLT suspends Delhi Gymkhana Club's board, asks Ministry of Corporate Affairs to appoint administrator

"We accordingly modify the interim relief by directing suspension of the GC and appointment of an Administrator to be nominated by the Union of India to manage the affairs of the Club,” said the tribunal's order. The order comes after several discrepancies in the operation of the club came to light.

 

Feb 15, 2021, 14:46 PM IST

Jet Airways crisis: MPs to raise issue again as employees seek govt help

 Several MPs cutting across party lines have expressed their support for the early revival of the now grounded Jet Airways, saying that they will again raise the issue in the ongoing winter session of Parliament.

Dec 03, 2019, 20:36 PM IST

Liquidation process of Jet Airways to begin in near future: Sources

Cash-strapped Jet Airways stopped its operations on April 17 after lenders refused to extend emergency funding to keep the airline afloat.

Nov 05, 2019, 11:06 AM IST

Ruchi Soya stock hits upper circuit after NCLT order

The order stated that, Patanjali will "infuse the amount of Rs 4,350 crore in the SPV (special purpose vehicle) -- 'Patanjali Consortium Adhigrahan'-- which will be later amalgamated with Ruchi Soya.

Sep 09, 2019, 16:07 PM IST

IL&FS cuts nearly 50% staff since October for cost cutting

In its fifth progress report on the group`s resolution process and the way forward, submitted to the Mumbai-bench of the National Company Law Tribunal (NCLT), the company said that the measure has helped reduce its wage bill by nearly 47 per cent.

Aug 14, 2019, 17:15 PM IST

Jet Airways Employee Consortium, AdiGroup to bid for 75% of airline

The debt-laden company became the first domestic airliner to go into bankruptcy after the Mumbai Bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by the SBI on behalf of 26 lenders on June 20.

Jun 28, 2019, 17:18 PM IST

Jet Airways: Pilots, engineers unions want to be made parties in NCLT hearing

A consortium of 26 bankers led by the SBI took the cash-strapped airline to the NCLT to recover their dues of over Rs 8,500 crore.

Jun 19, 2019, 15:24 PM IST

NCLT to hear case against Jet Airways filed by SBI tomorrow

A consortium of 26 bankers led by the SBI took the cash-strapped airline to the NCLT to recover their dues of over Rs 8,500 crore.

Jun 19, 2019, 11:18 AM IST

Lenders file for Jet Airways' bankruptcy; hearing from Wednesday

Jet Airways, started over 25 years ago by airline- ticketing-agent-turned-entrepreneur Naresh Goyal, stopped flying on April 17 after it ran out of cash and the unpaid lessors took away most of its 100-odd operational airplanes.

Jun 18, 2019, 18:05 PM IST

Finally, Jet Airways lands in NCLT as banks give up revival bid

The once largest private sector airline, started over 25 years ago by airline-ticketing-agent-turned-entrepreneur Naresh Goyal, stopped flying on April 17 after it ran out of cash and the unpaid lessors took away most of its 100-odd operational airplanes.

Jun 18, 2019, 13:21 PM IST

Banks give up on Jet Airways revival, choose to send it to NCLT

The statement further said the move was necessitated as the prospective investor wants some Sebi exemption deal the deal which can be worked out better under the IBC.

Jun 17, 2019, 18:26 PM IST

IL&FS resolution on track; green cos' Rs 12,000 cr debt likely to be settled by July: Official

The board of diversified IL&FS group, which is estimated to have a debt burden of over Rs 94,000 crore, was superseded by the corporate affairs ministry in October last year.

May 09, 2019, 10:10 AM IST

Jaypee insolvency: NCLT to hear on May 21 IDBI's plea on deadline extension

IDBI had approached the National Company Law Tribunal (NCLT) seeking extension of the corporate insolvency resolution process (CIRP) beyond the May 6 deadline as the proceedings are still underway to find a buyer for the Jaypee group's realty firm.

May 07, 2019, 09:30 AM IST

Banks can now refer defaulters to NCLT on case by case basis: Bankers

The Supreme Court on Tuesday quashed the RBI's February 12 circular, which prescribed rules for recognising one-day defaults by large corporates and initiating insolvency action as a remedy.

Apr 03, 2019, 10:26 AM IST

IL&FS, NCLT accounts roil BoI nos; net loss soars to Rs 4,738 crore

The city-based bank, under the prompt corrective action (PCA) framework of the Reserve Bank since 2017, had reported a net loss of Rs 2,341 crore in the year-ago period.

Jan 29, 2019, 09:54 AM IST