The insolvency process for the bankrupt Lavasa Corporation took a new turn with the principal bench of the National Company Law Appellate Tribunal (NCLAT) allowing a State Bank of India (SBI) petition seeking to set...
NCLT admits personal insolvency application against Kishore Biyani
Mumbai’s bankruptcy court on Friday admitted Axis Trustee Services’ application to initiate a personal insolvency process against Future Group promoter, Kishore Biyani, said people aware of the development...
Zee-Sony merger: NCLAT adjourns hearing over IDBI, Axis Finance plea to Oct 31
The NCLAT on Friday adjourned the hearing to October 31 on pleas filed by IDBI Bank and Axis Finance against the merger of Zee Entertainment Enterprise with Culver Max Entertainment, formerly Sony Pictures Networks...
Southwind Media eyes sale its stake in Spain’s Mediapro- sources
Mediapro’s main shareholder, Hong Kong-based investor Southwind Media, is exploring a possible sale of its stake in the Spanish sports rights and broadcasting group, two people familiar with the matter told...
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...
NCLT suggests SpiceJet settle issues with aircraft lessors
The National Company Law Tribunal (NCLT) suggested that SpiceJet settle the issues with lessors that have sought initiation of insolvency proceedings against it. The tribunal’s suggestion came against the backdrop...
Future Group companies moves to Delhi HC against a debt recovery tribunal order
The Future Group companies moved the Delhi High Court against a debt recovery tribunal’s July 31 order that restrained them from alienating their assets in recovery proceedings initiated by lenders. A bench led by...
SpiceJet insolvency plea maintainable, WLFC tells NCLT
Engine Lessor Willis Lease Finance Corporation (WLFC) Tuesday argued that the insolvency petition filed by the company against airline Spicejet before the National Company Law Tribunal was maintainable, and the demand...
NCLT to hear lessors’ pleas for SpiceJet insolvency in August
The National Company Law Tribunal (NCLT) has postponed the hearing of insolvency pleas against budget carrier SpiceJet, granting the airline 10 days to file a rejoinder. The pleas were filed by aircraft lessors...
Resolution professional invites bids for Go First
As Go First draws up plans to resume flight operations, preparations are also underway to find a suitable new owner for the low-cost carrier. The airline’s resolution professional Shailendra Ajmera on Monday...
NCLT adjourns claim pleas against Punj Lloyd
The National Company Law Tribunal (NCLT) adjourned the petitions filed by the Airports Authority of India and Gail India Limited against Punj Lloyd to August 23. Airports Authority of India said that the liquidator had...
Zee Entertainment, IndusInd settle payments issue, NCLAT disposes of appeal
Zee Entertainment and IndusInd Bank announced that all the due payments have been settled between the two entities, as per media reports. The National Company Law Appellate Tribunal (NCLAT) has disposed of the appeal...