Nov 23, 2021 10:00 PM IST
The apex court said even if the contractual dispute arises concerning insolvency, a party can be restrained from terminating the contract only if it is central to the success of the Corporate Insolvency Resolution Procedure (CIRP). we would like to issue a note of caution to the NCLT and NCLAT regarding interference with a party's contractual right to terminate a contract.
- Nov 22, 2021 08:39 PM IST
- Oct 24, 2021 05:55 PM IST
Directing the Mumbai Bench of the National Company Law Tribunal (NCLT) to pass necessary fresh recent orders in a "fair, just, dispassionate manner on merits, afresh”, the appellate tribunal said "there was negation of principles of natural justice” by it.
- Oct 17, 2021 07:00 PM IST
As many as 15 posts, including that of 9 judicial members and 6 technical members, are to be filled up at the NCLT. Besides, applications have been invited for 3 positions of judicial members and 2 of technical members at the National Company Law Appellate Tribunal (NCLAT).
- Oct 06, 2021 02:43 PM IST
The NCLT had directed Zee to file a reply by October 7 on Invesco's plea seeking a legal order for an extraordinary general meeting.
- Sep 16, 2021 12:51 PM IST
Justice Cheema, the former Chairperson of National Company Law Appellate Tribunal (NCLAT), was to superannuate on September 20, but Justice M Venugopal was appointed as the acting head of the tribunal with effect from September 11, creating a peculiar situation where the former approached the top court.
- Sep 15, 2021 04:22 PM IST
A bench headed by Chief Justice N V Ramana said it would take up the matter on Thursday and asked Attorney General K K Venugopal to take instructions on the issue.
- Sep 13, 2021 08:08 PM IST
This is the third time in a row that an Acting Chairperson is at the helm of the NCLAT, which is handling several crucial appeals related to matters under the insolvency and competition laws, after the retirement of Chairperson Justice S J Mukhopadhaya on March 14, 2020.
- Sep 12, 2021 12:58 PM IST
In an interaction with Moneycontrol, Mona Agarwalla, director of Siliguri's Central Courtyard Resort, said she was in touch with Oyo. However, so far no settlement had been made. She has claimed a settlement of Rs 37 lakh.
- Sep 11, 2021 04:25 PM IST
The appellate tribunal has issued notices to the resolution professional, lenders and Twin Star Technologies directing them to file a reply by September 17.
- Sep 09, 2021 01:45 PM IST
Empowering public sector banks to play an active role in the management of distressed assets could go a long way in reducing the queue of assets headed to insolvency
- Sep 08, 2021 11:36 PM IST
The order of winding up of Devas Multimedia is "undoubtedly, cemented on, just, fair, reasonable and equitable ground to relieve an 'abuse' and the same is free from any legal flaws," it added.
- Sep 06, 2021 09:37 AM IST
Videocon Oil Ventures Ltd (VOVL) earlier received expressions of interest from four companies including Vedanta and a Brazilian company Petrobras for its overseas assets, the report added.
- Aug 30, 2021 12:40 PM IST
Ministry of Corporate Affairs identifies assets worth Rs 5,000 crore. However, banks are getting only 4.15 percent of their total outstanding. Ministry is in the process of identifying more assets, say sources.
- Aug 10, 2021 04:54 PM IST
NCLAT is of the view that any transfer of the licence that may happen if the corporate debtor is acquired by a third party as part of an insolvency proceeding will only be permitted if the dues for such licence are cleared. Vodafone Idea owes the government Rs 96,270 crore in spectrum payment dues
- Jul 19, 2021 08:37 PM IST
The appellate tribunal has issued notices to the Committee of Creditors, the Resolution Professional of Videocon and the successful resolution applicant Twin Star. It has asked them to file the reply within two weeks and directed to list the matter on September 7 for the next hearing.
- Jul 13, 2021 08:18 PM IST
NCLAT said though a resolution plan will generally provide a higher value than liquidation value, in case of real estate projects it may not be always feasible.
- Jul 07, 2021 11:08 AM IST
OYO has also made an out of the court settlement with the original party, Rakesh Yadav.
- Jun 07, 2021 06:22 PM IST
As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance to take over the beleaguered housing finance firm.
- May 27, 2021 11:18 AM IST
In the entire DHFL saga, the biggest loser is the retail investor in its equity and debt instruments
- May 25, 2021 11:50 AM IST
DHFL's former promoter Kapil Wadhawan had submitted a proposal seeking to repay Rs 91,158 crore over a period of seven years. But, the bankers have refused to accept this proposal so far
- May 04, 2021 11:47 AM IST
The admission of a corporate insolvency case can have serious consequences for the company, impacting its goodwill, reputation, daily operations, and management. It also open the doors for various creditors to file claims against the firm
- Apr 08, 2021 03:02 PM IST
The NCLT plea had been filed by a Gurgaon hotelier, who had accused the company of defaulting on payments and violating an agreement. The NCLAT ruling has now halted a ruling by the Ahmedabad bench of the NCLT initiating corporate insolvency proceedings against the subsidiary, OHHPL.
- Apr 07, 2021 01:13 PM IST
Oyo has challenged the NCLT order in the National Company Law Appellate Tribunal.
- Mar 31, 2021 09:41 AM IST
Reportedly, the demand for guarantees was made after the Supreme Court order set aside the December 17, 2019, NCLAT order.