The National Company Law Appellate Tribunal has stayed Vendata Resources’ acquisition of ElectrosteelNSE -2.04 % Steels under the bankruptcy procedure following an appeal by bidder Renaissance Steel, that had questioned...
VA Tech Wabag moves appellate tribunal against NCLT insolvency order
Water technology firm VA Tech Wabag Ltd has filed an appeal with the National Company Law Appellate Tribunal (NCLAT) against an order of the National Company Law Tribunal (NCLT) initiating corporate insolvency...
Tribunals dismiss Macquarie Bank’s insolvency petition against Uttam Galva Metallics
The National Company Law Appellate Tribunal in Delhi has upheld a Chandigarh NCLT order dismissing Macquarie Bank’s insolvency petition against Uttam Galva Metallics on the grounds that the Australian lender was...
Inox wind challenges National Company Law Tribunal’s order
Wind energy solutions provider Inox Wind (IWL) is challenging the National Company Law Tribunal’s Chandigarh bench order on insolvency, claiming it is solvent and in “excellent” financial health. ET had...
Bankruptcy tribunal initiates action against Jyoti Structures
The Mumbai bench of National Company Law Tribunal (NCLT) on Tuesday cleared bankruptcy proceedings against Jyoti Structures after the company failed to repay dues worth Rs 7,000 crore to Indian banks. The company was...
Cairn India, Vedanta gain as National Company Law Tribunal approves merger
Shares of Cairn India and Vedanta rallied up to 5% on the BSE after the company announced that National Company Law Tribunal has approved the merger. “The National Company Law Tribunal, Mumbai Bench, has today approved...
Hindujas’ acquisition of Reliance Capital hits financing hurdle
The financing of Hindujas’ acquisition of Reliance Capital has hit the coupon hurdle as lenders including Standard Chartered Bank and Barclays are seeking a 15.5% coupon on a Rs 2,000 crore loan each, people...
NCLT okays Metalysts Forgings’ acquisition by Deccan value-led group
After a delay of nearly seven years, lenders of Amtek Auto’s listed subsidiary Metalysts Forgings are likely to recover part of their dues, as the bankruptcy court has approved the company’s acquisition. The...
NCLT allows IL&FS Transportation Networks to offload shares in an expressway project
The National Company Law Tribunal (NCLT) has allowed IL&FS arm IL&FS Transportation Networks to offload its shares in Moradabad Bareilly Expressway to the Roadstar Infra Investment Trust (InvIT). The two-member...
Debt, equity holders approve merger of IDFC with IDFC First Bank
Shareholders and non-convertible debenture (NCD) holders of IDFC First Bank have approved a proposal to merge parent IDFC Ltd with the lender. The National Company Law Tribunal (NCLT) convened a meeting on May 17...
Batliboi Ltd. merging its associate company
Batliboi Limited has a history of collaborations with various foreign technical partners and has subsidiaries like Hydraulic & General Engineers Ltd. and Batliboi International Ltd. In March 2024, the board of...
NCLT sets the ball rolling on merger of Reliance’s arm Viacom18 and Star India
The Mumbai bench of the National Company Law Tribunal has admitted the merger scheme between Reliance Industries Ltd’s Viacom18, its wholly-owned subsidiary Digital18 and Walt Disney’s Star India, marking...