A three-member NCLAT bench upheld the order of the Mumbai bench of the National Company Law Tribunal (NCLT) that dismissed the plea of Allied Silica to initiate insolvency proceeding against the Tata group firm.
A three-member NCLAT bench dismissed the plea filed by promoter Vishal Vijay Kalantri challenging the order passed by the Mumbai bench of National Company Law Tribunal (NCLT), which had approved the Rs 650-crore resolution plan by Adani Ports & Special Economic Zone (APSEZ) on March 5.
Bharti Airtel and Bharti Hexacom had paid Rs 341 crore to Aircel and Dishnet Wireless but had retained Rs 112 crore to set off the dues owed by Aircel entities to Airtel entities.
Earlier on August 20, 2019, the Mumbai bench of National Company Law Tribunal (NCLT) had directed to initiate insolvency proceedings against HDIL, after allowing the insolvency plea filed by Bank of India, claiming default of a loan of Rs 522 crore by the realty firm.
Construction work is currently being overseen by the interim monitoring committee
A three-member NCLAT bench upheld the order passed by fair trader regulator CCI, which had earlier rejected a plea seeking probe against Ola and Uber alleging unfair price fixation mechanism and abuse of dominant position by them.
The top court had on January 10 granted relief to Tata group by staying the National Company Law Appellate Tribunal (NCLAT) order of December 18 last year, by which Mistry was restored as the executive chairman of the salt-to-software conglomerate.
Allowing the plea filed by the Ministry of Corporate Affairs (MCA), a two-member bench of the appellate tribunal said the NCLT's direction was "beyond the power" and amounted to "imposition of a new rule in a compelling fashion".
Sources said that while no construction can begin immediately due to the COVID-19 situation, there will now at least be an interim arrangement in place to start the ball rolling.
Passing a suo motu order, a three-member NCLAT bench headed by Acting Chairperson Justice B L Bhat said that it would applicable in all the corporate insolvency resolution process, which has been initiated or pending, or pending in Appel before the benches of NCLTs or before the appellate tribunal.
Companies that have CSR obligations up to Rs 50 lakh would not be required to set up a committee in this regard.
The Chennai-based bench would hear the appeals against the orders of the benches of the National Company Law Tribunal (NCLT) having jurisdiction of Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Lakshadweep and Puducherry, the notification said.
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A two-member bench of the appellate tribunal headed by Justice S J Mukhopadhaya said CAIT failed to establish its allegations against CCI granting approval for Walmart-Flipkart deal.
The Appellate court upheld the NCLT Chennai order refusing to fully change the boards’ composition and said the Centre can nominate three directors to the board of 63 Moons
Guilty or not, e-commerce firms should put a stop to burning investors’ money for deep discounts
A two-member bench of the NCLAT upheld the directions of the Mumbai bench of the National Company Law Tribunal, saying it can not be termed as "illegal".
The National Company Law Appellate Tribunal (NCLAT) dismissed the pleas of debt-ridden IL&FS auditors - Deloitte and KPMG arm BSR & Associates - challenging their impleadment in the case involving alleged fraud in IFIN, a subsidiary of IL&FS.
CCI director general will probe the charges, a three-member bench of the NCLAT has said.
A three-member bench of the NCLAT released Flipkart from the corporate insolvency resolution process and directed the Interim Resolution Professional (IRP) appointed by NCLT to handover the records and assets of the company back to its promoter immediately.
The NCLAT verdict clears the path for JSW Steel to acquire Bhushan Power & Steel, giving it a large steel plant in Odisha
The National Company Law Appellate Tribunal has referred the ongoing dispute between General Electric and Triveni Turbines over their joint venture back to the Bengaluru bench of the NCLT.
Mistry, whose family owns 18.37 per cent stake in Tata Sons, has filed a cross-appeal in the court.
A two-member bench headed by Chairman Justice S J Mukhopadhaya, said that JSW Stwel will be immuned from the acts done by the former promoters of the Bhushan Power & Steel Ltd.
While some legal experts are of the view that this would ensure completion of projects, others caution that the order is contrary to the fundamental tenets of insolvency and may lead to chaos