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NCLT News

02 May 2024

Embattled Byju’s Links Sales Employees’ Salaries To Weekly Revenue Generation

The new company policy is currently applicable to sales teams, including the Inside Sales (IS) and Byju’s Exam Prep (BEP) teams, according to an internal company document.

22 Apr 2024

Byju's Pays Partial March Salary Dues Ahead Of NCLT Hearing: Report

The global ed-tech company will have to face a hearing at the National Company Law Tribunal (NCLT) on Tuesday.

29 Mar 2024

Byju’s EGM On Rights Issue Ends Sans Objection, Dissenting Investors Skip Meet

The meeting saw about 20 investor representatives in attendance, along with Think & Learn management, the parent company of Byju’s.

28 Mar 2024

NCLT Refuses To Defer Byju's EGM To Raise Capital Via Rights Issue

Last month, the NCLT directed Byju's to keep funds received from the rights issue in an escrow account till the disposal of the case.

22 Mar 2024

Byju's Says 262 Tuition Centres Operational, A Few To Undergo 'Strategic Restr

The company is giving up office spaces as the leases expired, keeping only its Bengaluru-based headquarters.

23 Feb 2024

Key Investors Move NCLT Against Byju’s Rights Issue

The edtech company said earlier this week that the rights issue by its parent company Think & Learn Pvt. Ltd to raise $200 million at a 99 per cent valuation cut was fully subscribed.

23 Nov 2023

Grounded Go First Airline Receives 90-Day Extension From NCLT For Resolution

Go First Airlines remains inactive, receiving a 90-day moratorium extension from NCLT for insolvency resolution. Failure may lead to liquidation by Feb 4, 2024.

04 Aug 2023

Go First Insolvency: NCLT Seeks Report On Most Recent Developments

A two-member bench of NCLT directed the resolution professional (RP) to file an additional affidavit in the next 10 days, including the status of the maintenance of the leased Go First aircraft.

31 May 2023

Go First Lessors' Plea To Deregister Plane Denied Due To Portal Glitch: DGCA

DGCA said it was not processing such requests following a moratorium on financial obligations and the transfer of assets of the crisis-hit airline in the wake of insolvency resolution proceedings.

22 May 2023

Go First Insolvency: Lessors Cannot Take Possession of Aircraft

NCLAT directed aircraft lessors to approach NCLT for any remedy in the Go First insolvency proceedings matters.

11 May 2023

SpiceJet Denies Insolvency Rumours Despite Receiving Notice From NCLT

SpiceJet has received notice from National Company Law Tribunal, however, the airline is claiming that rumours of insolvency are false, and it is focussing on recovery of its fleet.

10 May 2023

Go First Crisis: NCLT Admits Airline's Plea For Insolvency Resolution Process

Go First Insolvency: According to the order by NCLT, IRP has been asked to take necessary steps including execution of the arbitral awards, keep it as a going concern and run its services smoothly.

10 May 2023

Go First Crisis: Lessors Now Seek To Reregister 45 Planes Of Low-Cost Airline

Go First Airline had 55 aircraft in its fleet as on May 2 when it filed the petition and also announced suspension of operations.

09 May 2023

'Too Hypothetical Question': Go First CEO On Rival Bids To Acquire The Airline

Go First's CEO said the airline promoters -- the Wadia group -- are interested to be in the business and the purpose of approaching the NCLT is to retain the aircraft from lessors.

09 May 2023

SpiceJet Airline In Trouble, Ireland-Based Lessor Seeks Bankruptcy Proceedings

Amidst Go First bankruptcy, NCLT will hear the insolvency plea filed by Aircastle against SpiceJet on May 17, while SC will also hear Credit Suisse contempt plea against the airline.

Go First Airline

09 May 2023

Go First Update: DGCA Bars Ticket Sales, Lessors To Deregister 36 Planes

Go First Airline, on May 2, filed an application for voluntary insolvency resolution proceedings with NCLT, following a severe cash crunch.

08 May 2023

Go First Pilot Blames Airline For Not Paying His Dues, NCLT Issues Notice

Go First pilot R Dastoor submitted a plea with NCLT stating that there is more than Rs 1 crore due on the low-cost carrier for his services provided to the airline.

Go First Airline

04 May 2023

Go First Airline Fears Losing Parking Slots To Rivals, Seeks NCLT Directions

In its petition filed before NCLT, Go First airline has sought directions to restrain aircraft lessors from taking any recovery action against the cash strapped air carrier.

15 Oct 2022

HDFC-HDFC Bank merger: NCLT approves shareholders' meet

The shareholder meeting will be convened on November 25, 2022. The deal has got in-principle approval from the stock exchanges, Reserve Bank of India (RBI), Sebi, Pension Fund Regulatory and Development Authority (PFRDA) and Competition Commission of India (CCI). Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares held.

13 Apr 2022

Supertech insolvency matter: NCLAT stays formation of committee of creditors

Supertech had sought time to negotiate with banks. On March 25, the Delhi bench of NCLT initiated insolvency proceedings against Supertech Ltd. NCLT had also appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.

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