Supertech ORB, which is constructing ultra-luxury high-rise residential apartments in the southeastern suburbs of Delhi-NCR, has been admitted for bankruptcy resolution, potentially delaying possession for homebuyers in...
WLFC asks NCLT to issue notice in Spicejet insolvency case
Willis Lease Finance Corporation requested the National Company Law Tribunal, Delhi, to issue a notice in the insolvency case filed against Spicejet on Monday. The senior counsel for WLFC argued that the company was...
Torrent approaches the SC to expedite a hearing on its appeal in Reliance Capital’s insolvency resolution
Veteran lawyer Shardul Shroff has approached the Supreme Court on behalf of Torrent Investments to speed up the hearing on the company’s application to stay the second challenge mechanism in a corporate insolvency...
Future Retail lenders reject Space Mantra’s bid; NCLT extends insolvency period for 15 days
The lenders of Future Retail Ltd have rejected the bid submitted by Space Mantra for the debt-ridden firm, which is currently going through Corporate Insolvency Resolution Process (CIRP). The Resolution Plan submitted...
Insolvency & Bankruptcy Code cannot be used as a tool for recovery; says NCLT
Insolvency & Bankruptcy Code (IBC) cannot be used as a “tool for recovery”, the NCLT observed while dismissing a plea by two unit buyers of a commercial complex. The Principal Bench of the National...
Supreme Court dismisses appeal against ND Art’s insolvency
The Supreme Court dismissed a petition by Naina Desai, widow of late art director Nitin Desai, seeking a review of the National Company Law Appellate Tribunal (NCLAT) order allowing bankruptcy proceedings against their...
Reliance Capital insolvency: NCLT rejects Torrents’s plea, to hear Hinduja’s resolution plan approval on September 26
The National Company Law Tribunal (NCLT) will hear on September 26 the resolution plan for debt-ridden Reliance Capital submitted by Hinduja Group firm Indusind International Holdings Ltd (IIHL) as Torrent...
Future Retail: NCLT extends deadline till September 15 for completing insolvency process
The National Company Law Tribunal (NCLT) has extended the deadline to September 15 for completion of the insolvency resolution process of debt-ridden Future Retail Ltd (FRL). The decision came on an application moved by...
NCLAT dismisses insolvency plea against Wipro
The National Company Law Appellate Tribunal has dismissed a call for insolvency proceedings to be initiated against Wipro. The dispute pertains to the supply of goods for a government project implemented by the tech...
IDBI Trusteeship files insolvency resolution application against Coffee Day Enterprises
Global alternate investment fund manager Ares SSG Capital Management has filed an application with the Bengaluru bankruptcy tribunal to admit Coffee Day Enterprises for corporate insolvency due a Rs 228-crore bond...
SC refuses to restrain NCLT’s insolvency proceedings in Reliance Capital case
The Supreme Court on Friday refused to restrain the National Company Law Tribunal from deciding the insolvency resolution process of Reliance Capital. The committee of creditors of debt-ridden Reliance Capital had in...
Jet Airways insolvency case: NCLAT reserves order on Jalan-Kalrock Consortium’s plea
The National Company Law Appellate Tribunal (NCLAT) reserved its order on Jalan-Kalrock Consortium’s plea seeking more time to make payments to the lenders of the bankrupt Jet Airways. The consortium had emerged...