The National Company Law Tribunal deferred hearing a case involving low-cost carrier SpiceJet and aircraft lessor Celestial Aviation Services Ltd on Thursday after the two sides informed the court that they were in...
NCLT approves merger of Tata Metaliks with parent; not to announce separate quarterly results
The National Company Law Tribunal has sanctioned the amalgamation of Tata Metaliks Ltd into its parent Tata Steel, which led to the cancellation of board meeting ahead of financial results announcement of the subsidiary...
Air India Express taps NCLT doors for final nod to its merger plans with AIX
In a strategic move for the coming year, Tata Group is progressing towards the consolidation of its four airlines. According to a TOI report, Air India Express has initiated the ‘second motion’ for a final...
NCLT approves demerge of Thermax arms Thermax Cooling Solution, Thermax Instrumentation
Thermax on Tuesday said that the National Company Law Tribunal (NCLT) has approved the demerger of its arms Thermax Cooling Solutions and Thermax Instrumentation. “National Company Law Tribunal, Mumbai Bench vide...
NCLT okays BTL EPC’s McNally Bharat offer
The bankruptcy court in Kolkata has approved the acquisition of Khaitan family-promoted listed engineering firm McNally Bharat Engineering Co by BTL EPC. McNally Bharat had admitted liabilities of ₹5,015 crore. The...
NCLT admits insolvency plea against Ansal Props’ promoter
National Company Law Tribunal (NCLT) has admitted a personal insolvency application filed by Indian Bank against realtor Pranav Ansal, the promoter of Ansal Properties and Infrastructure, as per the contents of a court...
NCLT approves Swan Energy’s loan repayment to Reliance Naval by one year
Swan Energy Limited (SEL) has received a one-year extension from NCLT for the payment of second tranche due to the lenders of Reliance Naval and Engineering Limited (RNEL). As per the resolution plan, an amount of Rs...
NCLT allows Reliance Communications to substitute its resolution applicant
The National Company Law Tribunal (NCLT) Mumbai has allowed Reliance Communications (Rcom) to substitute its resolution applicant under the resolution plan submitted by the bankrupt telco. Rcom had changed its...
NCLT admits IIFL Finance’s claim against Satra Properties as financial debt
The National Company Law Tribunal (NCLT) has accepted an application of IIFL Finance to admit its claim against Satra Properties under the category of financial debt in an ongoing case between the property developer and...
NCLT admits Sahara group subsidiary into insolvency
The National Company Law Tribunal has ordered insolvency proceedings against a Sahara Group subsidiary, deciding that a dispute raised by the company against its creditor was a means to avoid paying its dues. A Mumbai...
NCLT admits plea to initiate insolvency against Sahara Group entity Sahara Q Shop
The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted Sahara Q Shop Unique Products Range Ltd, the FMCG and retail arm of Sahara India Pariwar, under the Corporate Insolvency Resolution Process...
SpiceJet gets some respite as NCLT dismisses Willis Lease plea for insolvency
In some relief for SpiceJet, the National Company Law Tribunal on Monday dismissed a plea by aircraft lessor Willis Lease Finance Corp. to initiate insolvency proceedings against the cash-strapped airline. But apart...