The National Company Law Tribunal (NCLT) has approved Chemhub Tradelink’s resolution plan for Pancard Clubs, which has debt claims of around Rs 8,900 crore, which is leading to 8% recovery for creditors. Ahmedabad...
NCLT admits insolvency plea against two Essel Group companies on Indiabulls Housing plea
The bankruptcy court on Thursday admitted two Essel Group entities Primcomm Media Distribution Ventures Ltd and Essel Homes Pvt Ltd under the Corporate Insolvency Resolution Process (CIRP) after Gnex Realtech Pvt Ltd...
NCLT levies ₹20,000 cost on Byju’s for failing to reply to plea by Surfer Tech
The Bengaluru bench of the National Company Law Tribunal has levied a cost of ₹20,000 on edtech platform Byju’s for the delay in filing its reply to a petition by Surfer Technologies. As an operational creditor, Surfer...
NCLT admits insolvency resolution plea against listed infra firm Sadbhav Engineering
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted the listed road infrastructure company, Sadbhav Engineering, under the corporate insolvency resolution process in an application filed by its...
NCLT orders insolvency proceedings against Subhash Chandra on Indiabulls Housing Finance plea
The National Company Law Tribunal (NCLT) on Monday ordered insolvency proceedings against media mogul Subhash Chandra, following a plea filed by Indiabulls Housing Finance. The decision, announced by a two-member bench...
Jet Airways ownership transfer: SC agrees to hear lenders’ appeal against NCLT order
The Supreme Court on Monday agreed to hear the State Bank of India-led consortium of lenders’ appeal against the National Company Law Appellate Tribunal’s order that upheld the transfer of ownership of grounded...
NCLT notice to SpiceJet on 3 insolvency pleas filed by lessors for arrears worth Rs 77 crore
The National Company Law Tribunal (NCLT) on Thursday issued a notice to SpiceJet Ltd, seeking the budget airline’s response to three insolvency petitions filed against it by aircraft lessors over ₹77 crore of...
Hinduja arm asks NCLT to junk BHEL insolvency plea
Hinduja National Power Corporation Ltd (HNPCL) on Tuesday requested the National Company Law Tribunal that the insolvency petition filed by public sector undertaking Bharat Heavy Electricals Ltd against it be dismissed...
Zee withdraws NCLT plea in Sony merger case
ZEE Entertainment Enterprises Limited (ZEEL) has withdrawn its application from the National Company Law Tribunal (NCLT) that sought directions to Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment...
NCLAT upholds NCLT order in Smaaash insolvency case
The National Company Law Appellate Tribunal (NCLAT) has upheld an order by the National Company Law Tribunal (NCLT) in November 2023 that set aside the ‘fraudulent’ transfer of the Smaaash brand by founder Shripal...
NCLT approves merger between Hinduja Group’s healthcare, real estate companies
The National Company Law Tribunal (NCLT) has approved the scheme of merger by absorption between Hinduja Group’s unlisted entities Hinduja Realty Ventures Ltd and Hinduja Healthcare Ltd. The order, delivered on...
NCLT refuses to stay Byju’s EGM to increase its authorised share capital
The National Company Law Tribunal on Thursday refused to stay Byju’s extraordinary general meeting (EGM) that will be held today to augment the authorised share capital of the beleaguered edtech company, giving...