Page 10 - National Company Law Tribunal

Allcargo boosts single-largest investor status in Gati, ups stake to 20.8%

Share purchase from Gati promoters marks end of second phase of deal

Governing unlisted firms

Proposed norms are in the right direction

New York's Interups plans to acquire assets worth $8 billion in India

If all the transactions conclude successfully, Interups said it would earn $80-$100 million in gross cash revenues, excluding any equity value earned

Jio, UVARC emerge top bidders for RCom assets with bids worth Rs 21,000 cr

Delhi-based UVARC has offered to pay about Rs 16,000 crore for the spectrum, real estate, and enterprise and data centre businesses of RCom and Reliance Telecom, which houses these assets

RCom CoC to seek 24-day extension for asset sale as deadline ends on Jan 10

The other bidders include Bharti Airtel, Värde Partners and UV Asset Reconstruction Company (UVARCL)

SC to hear Tata Sons' plea challenging NCLAT decision on Mistry on Friday

The apex court website on Tuesday showed the plea to be listed before a three-judge bench comprising Chief Justice S A Bobde and Justices B R Gavai and Surya Kant

Jaypee Infra's IRP approaches NCLT Allahabad for approval of NBCC's bid

Last month, NBCC won the bid to acquire Jaypee Infratech after financial creditors, including lenders and homebuyers, approved its resolution plan

Majority vs minority cliffhanger

The NCLAT judgment has surely dented Mr Tata's reputation as he has been asked to 'desist' from interfering in the affairs of the group

Don't delay decision on reviving Jet Airways, NCLT tells Synergy Group

The South American group had failed to provide a resolution plan before December 16 deadline due to uncertainty on airport slots

Jet lenders to invite fresh bids as parties are willing to revive airline

The CoC will vote on restarting the bid process on Friday and the results will be out on Saturday

NCLAT verdict over Mistry's removal as Tata Group Chairman on Wednesday

The Appellate Tribunal had reserved its order in July this year, after completing its marathon hearing over the issue

Patanjali gets one more week to complete Rs 4,350-cr Ruchi Soya deal

A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya extended the deadline to December 23

Govt moves NCLAT against NCLT order making MCA party in all IBC cases

The appellate tribunal is expected to hear the case on Friday

Recoveries from Odisha Slurry Pipeline under CIRP could be low: Srei fund

IGOF has written to the resolution professional and the committee of creditors, requesting that OSPIL be withdrawn from CIRP

Govt to set up NCLAT bench in Chennai to cut down on backlog: Minister

It has also set up five new benches of NCLT during 2018-2019 at Jaipur, Cuttack, Kochi, Indore and Amaravati, with this aim

Aviva Life settles Apeejay Trust's Rs 27-lakh insolvency case in NCLT

Earlier this month, the NCLT had ordered to initiate insolvency proceedings against Aviva Life Insurance in a case filed by Apeejay Trust

Govt moves NCLT to reopen financial statements of CG Power for FY15-19

The corporate affairs ministry on Monday moved NCLT seeking to reopen and restate the financial statements of CG Power & Industrial Solutions under Section 130 of the Companies Act for financial years 2015 to 2019. Alleging financial irregularities, the CG Power board had on August 30, 2019 in a mid-night drama removed the company promoter Gautam Thapar as the non-executive chairman, a position he had held since July 2006. The National Company Law Tribunal (NCLT) directed the ministry to issue notices to market regulator Sebi, the income tax department and Thapar to file reply within a week and also asked the ministry to file the rejoinder a week later. The tribunal has posted the matter for more hearing to December 16. The company said an investigation instituted by its board had found major governance and financial lapses, including some assets being provided as collateral and the money from the loans siphoned off by "identified company personnel, both current and

RBI to supersede DHFL board, approach NCLT for bankruptcy proceedings

The central bank said it had appointed R Subramaniakumar, ex-MD and CEO of Indian Overseas Bank, the administrator for DHFL

Karnataka HC stays NCLT order against Flipkart for defaulting payment

Flipkart had approached the Karnataka High Court after NCLT initiated insolvency proceedings for defaulting on Rs 18 crore payment to one of its suppliers

Essential goods may soon come under IBC regulations: Details here

Electricity, water, telecommunications, and information technology are currently covered under essential goods