TRENDS
Celestial Aviation Services moves insolvency plea against SpiceJet
This is the fifth insolvency plea to be filed against SpiceJet by a lessor
TRENDS
NCLAT to hear IDBI's appeal against Zee Entertainment on August 17
In May 2023, the NCLT's Mumbai bench refused to entertain IDBI's plea noting that it was barred under Section 10A of the Insolvency and Bankruptcy Code (IBC).
TRENDS
NCLT seeks PC Jeweller's response to SBI's insolvency plea
The case is likely to come up for hearing again on August 21.
TRENDS
NCLT ruling on Go First application to refund passengers will bring clarity, say lawyers
Addressing customer claims during insolvency is not a straightforward matter as the IBC provides a mechanism to resolve insolvencies, but does not explicitly outline the treatment of customer claims, such as refunds for cancelled tickets.
TRENDS
NCLAT lists IDBI appeal against Zee for hearing tomorrow
In May 2023, the NCLT at Mumbai refused to entertain IDBI's plea noting that it was barred under Section 10A of the Insolvency & Bankruptcy Code (IBC).
TRENDS
Go First refund case: NCLT issues notice to airline's CoC; lists for hearing on Aug 7
During the hearing, Go First said it has to refund Rs 597 crore to 15.5 lakh passengers since its grounding on May 3. This includes advances bookings also till July 10.
TRENDS
NCLAT, NCLT can recall their own judgments, Supreme Court affirms
Recalling a judgment refers to canceling or reversing a judgement of the court mostly due to wrong interpretation of facts or procedural errors.
TRENDS
Kalanithi Maran Vs SpiceJet: Delhi High Court upholds arbitral award against SpiceJet
The court also rejected Maran's challenge to the arbitral award. Maran had requested to invalidate the portion of the award that included the interest on the amount of Rs 270 crore for the non-issuance of compulsory redeemable preference shares.
TRENDS
Go First seeks NCLT's permission to refund passengers for cancellations
The move is being seen as another step towards the resumption of operations after NCLT refused to stop the debt-laden airline from using leased aircraft
TRENDS
Jan Vishwas bill will reduce compliance & judicial burden, bolster ease of doing business, say experts
The bill seeks to decriminalise 183 provisions in 42 different laws, replacing imprisonment with a monetary penalty. This should go a long way in decluttering the courts and expedite resolution.
TRENDS
Go First Case: Delhi HC orders status quo with respect to SMBC aviation's aircrafts
The order was passed in an application filed by SMBC alleging that Go First violated the previous order of Delhi High Court as it had 'handled' the aircraft against explicit directions of the court.
TRENDS
Jet Airways Case | Creditors not permitting us to commence operations: Jalan Kalrock Consortium to NCLAT
JKC argued that it had obtained the Air Operator's Certificate (AoC) for one year from 2022-23, however, since the CoC objected to the transfer of ownership at every stage, they could not commence operations
TRENDS
Parliamentary committee urges anti-trust law updates at the earliest from Digital Competition Committee
The parliamentary panel also emphasised that ex-ante evaluation is to ensure that digital markets do not end up being monopolised.
TRENDS
Finalise digital competition law at the earliest, says parliamentary committee
The committee in its 63rd report has noted that the government had earlier informed that the digital competition law would be finalised by May 2023, however the deliberations are ongoing.
TRENDS
Supreme Court permits extension of ED director's tenure till September 15
Centre had sought an extension of Mishra's term till October 15, since his presence would be required for the ongoing Financial Action Task Force (FATF) peer review
TRENDS
Punit Goenka case: SAT modifies July 10 order on SEBI's application
SEBI has now been directed to place the case for hearing before a Whole Time Member (WTM) or any other authorised officer who is higher in rank, grade or position to the WTM.
TRENDS
UltraTech Cement challenges CCI order making builders body a party in cartelisation case
CCI initiated investigation against cement companies in 2019 after it received information from multiple sources regarding abnormal increase of cement prices in India. The parties alleged that the cement companies were colluding to artificially increase the price
TRENDS
SBI moves insolvency plea against PC Jeweller over loan default
The plea, which came up for hearing before the principal bench of NCLT on July 26, has now been adjourned to the first week of August for further hearing
TRENDS
NCLT refuses to restrain Go First from using leased aircraft
The NCLT also dismissed the plea by lessors to inspect their aircraft and engine and held that they have in their previous order from June 15 already directed the Resolution Professional to maintain the same.
TRENDS
Why did NCLT admit Coffee Day Global limited to insolvency resolution process?
According to the order, which Moneycontrol has reviewed, Coffee Day obtained various credit facilities from IndusInd bank from April 2018
TRENDS
NCLAT closes Subhash Chandra's appeal against Indiabulls Housing Finance
The appeal was closed as Indiabulls and Vivek Infracon, the company for which Chandra had stood personal guarantee for a loan of Rs 170 crore from Indiabulls, settled their dispute
BUSINESS
SpiceJet gets breather from Supreme Court in Credit Suisse's contempt plea
The case is likely to come up for hearing again in the third week of August
TRENDS
Go First tells NCLT that it is exploring settlement with Delhivery
According to the application filed in NCLT by Delhivery, the airline received over Rs 1.58 crore from the logistics company for rendering domestic cargo consignment services but never acted on it
TRENDS
Go First case: Delhi HC seek lessors’ response to CoC plea to be made party in plea against DGCA
Objecting to the plea, the lessors argued that the airline's resolution professional, who is already a party to the proceedings, represents the interest of the CoC. The lessors thus argued that CoC need not be made party
