Page 8 - National Company Law Tribunal

Lenders terminate bankruptcy proceedings against Lavasa Corporation

Lenders who have run up Rs 7,700 cr bad loans will call for fresh bids

Games promoters play

If a promoter knows that he can afford not to repay loans and buy back his company in the bankruptcy court at a discount with a reduced debt burden, he has a strong incentive to drive his firm aground

Best of BS Opinion: DHFL resolution, the collapse of Indian cinema & more

Here are the best of Business Standard's opinion pieces for Friday

NCLT initiates insolvency proceedings against Ahluwalia Contracts

The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against construction firm Ahluwalia Contracts India Ltd for defaulting on payments to an operational creditor. The New Delhi-based NCLT bench allowed the insolvency plea filed by A2 Interiors Products Pvt Ltd against Ahluwalia Contracts, claiming default of Rs 14.10 crore, and appointed an interim resolution professional. Ahluwalia Contracts had engaged A2 Interiors Products for interior, furnishing and allied civil and electrical works at various project sites. It had supplied materials to Ahluwalia Contracts as part of various work orders issued for six projects at different locations in the country, according to the NCLT order. It had raised invoices against each work order, which were duly received by Ahluwalia Contracts, however, it failed to release the full payment. Later, in May 2019, A2 Interiors had issued a notice to Ahluwalia Contracts under the Insolvency & Bankruptcy Code (IBC) demanding Rs

Top headlines: Money laundering case on Franklin, APSEZ to buy 31.5% in GPL

The government may cut the reserve price of spectrum ahead of the 5G auction, given 63 per cent of spectrum remained unsold at this week's auction, CLSA said in its investor note

Govt non-committal on Jet Airways' historical rights on flight slots

DGCA and Civil Aviation ministry informed the Mumbai bench of NCLT that Centre will favourably consider application of slots to revive the company

RIL gets Sebi approval to hive off O2C business into independent subsidiary

Company again mentions that its talks with Aramco for what could be one of the largest downstream transactions in India are on

NCLT raps Amazon in Future case: Don't be a 'perpetual objector'

Says it has no locus standi in Future's plea to hold shareholder meeting; reserves order

IL&FS board addresses nearly Rs 32,000 crore of debt by December

Last year, in June, the board of IL&FS laid down a road map to resolve 57 per cent of the group's nearly Rs 1 trillion debt pile

DHFL resolution: Kapil Wadhawan writes to SEBI, RBI against 63 Moons

63 Moons has filed a writ petition before the Madras High Court seeking attachment of assets belonging to DHFL, Wadhawan said in the letter

From blacklisting norms to row over foreign award, here're top court orders

A selection of key court orders

Very little room for more rate cuts: Amandeep Chopra, UTI Asset Management

He says, the rate cycle seems to have bottomed out but RBI may not change its accommodative stance anytime soon

The AGR verdict and its impact on Vodafone Idea

Since the Supreme Court has now decided on a 10-year repayment tenure, it would clearly be a big challenge for Vodafone Idea, which is already steeped in debt

RBI's order could spell trouble for ARC-owning PE funds, say experts

The RBI had recently rejected a resolution plan - approved by the National Company Law Tribunal in June - that proposed selling Aircel's assets to UV Asset Reconstruction Company (UVARC)

NCLT agrees to hear SBI's bankruptcy case against Anil Ambani

The ruling is the most high-profile insolvency case against a founder who pledged to pay loans on behalf of their companies

Videocon lenders to seek better offers before last call on liquidation

As economy picks up, they expect bidders to come back to table

Tea company McLeod Russel moves to settle debts as promoters reduce stake

Most lenders have agree that debt restructuring is right choice and not auction under insolvency for India's largest bulk tea producer

How a one-time loan recast policy may lead to a spate of litigation

The management committee of the Indian Banks Association feels banks should be given the discretion to decide how the recast is to be customised and the eligibility criterion

As rival sweetens bid, JSW Steel hits hurdle to acquire Asian Colour

Interups offers Rs 2,000 crore in NCLT against JSW's Rs 1,550-cr bid

Is greed good?

A more caring India would provide for Universal Basic Income