NCLAT was hearing a petition by the tech giant, which challenged a penalty of Rs 213.14 crore on the social media major for unfair business ways with respect to the WhatsApp privacy policy update done in 2021.
The resolution plan has been contested by AGI Greenpac Ltd, erstwhile promoter Mukul Somany, dissenting financial creditor Exclusive Capital Ltd and operational creditor Soneko
The Delhi-based principal bench of NCLAT has upheld the previous order passed by the Mumbai bench of the NCLT, which in April, approved Nuvoco Vistas's plan for Vadraj Cement that includes an upfront payment of Rs 1,800 crore.
The investigation reports and regulatory findings from the the MCA, Sebi, and Serious Fraud Investigation Office prima facie support the government’s claims of systemic fraud involving substantial public interest, it said.
Vadodara-based Golden Tobacco owns cigarette brands such as Panama, Chancellor, Golden's Gold Flake and Taj Chhap. It is a Dalmia Group-owned firm.
In March, NCLT dismissed the demerger scheme filed by Talwandi Sabo Power Ltd (TSPL) after objections were raised by SEPCO, a creditor of TSPL, in relation to the demerger of Vedanta
The appellate insolvency tribunal has upheld the earlier order passed by the Chandigarh bench of the National Company Law Tribunal (NCLT), which had rejected SNJ Synthetics’s plea
NCLAT had partially upheld key aspects of CCI's order and reduced Google's penalty from Rs 936.44 crore to Rs 216.69 crore in March 2025
A two-member Chennai bench of the NCLAT upheld the directions passed by the NCLT
NCLAT upheld NCLT order by rejecting IDBI's plea
On March 28, NCLAT upheld key aspects of the CCI's antitrust order against Google's Play Store policies but set aside some directions and cut the penalty from Rs 936.44 crore to Rs 216.69 crore.
In October 2022, CCI had imposed a penalty of Rs 936.44 crore on Google for abusing its dominant position with regard to its Play Store policies
The petitions also contested the compilation submitted by the government (MCA) to the tribunal
Byju's suspended Director Riju Raveendran had sought to keep his Rs 158 crore settlement with the Board of Control for Cricket in India (BCCI) outside the purview of its Committee of Creditors (CoC), in a bid to evade insolvency
The tribunal also canceled the reconstitution of the Committee of Creditors (CoC) of Byju’s, which had been carried out by the Interim Resolution Professional on August 31, 2024. In this reconstitution, Srivastava had excluded Glas Trust and Aditya Birla Finance.
However, the National Company Law Appellate Tribunal (NCLAT) also clarified that ICICI-led consortium, which is opposing the IECCL resolution, would have the liberty to press for its "objection on the extinguishment of its entire debt, or mere payment of 42.25 per cent shareholding of IECCL in the ongoing resolution process."
The NCLAT order led to Byju Raveendran getting back the control of the edtech startup. Expecting a challenge, he has already filed a plea in the court requesting he be heard before deciding the matter
The plea was filed on August 3, a day after the NCLAT accepted the settlement between Raveendran and Board of Control for Cricket in India (BCCI). The US based lenders of Byju's had objected to the settlement alleging that it was 'tainted' and Raveendran was using money 'stolen' from them to settle with BCCI.
The appellate tribunal noted that the settlement is being arrived before the Committee of Creditors (CoC) could have been constituted and considering that the source of the money (for settlement) is not in dispute, it did not have any reason to keep the company in insolvency process.
The tribunal is expected to rule on the settlement between Raveendran and BCCI on August 2 and the stay is intended 'to protect the interest of all the parties' till an order is passed.
The US-based lenders of Byju's have requested NCLAT not to accept the settlement, saying it is 'tainted' and is being paid from 'stolen money'
The HC said "Having regard to undisputed fact that appeal is filed before NCLAT and it has been taken up for consideration today and kept for hearing tomorrow. Petition is disposed off with liberty to revive the petition if occasion arises."
The case will now be placed before NCLAT chairperson Justice (retd) Ashok Bhushan who will take a call on the course of action
Raveendran has sought the suspension of the NCLT order that initiated bankruptcy proceedings against Byju's on BCCI's plea over non-payment of Rs 158 crore
The survey revealed that the eight years since it was introduced in 2016, 31,394 corporate debtors involving a value of Rs 13.9 lakh crore have been disposed of (including pre-admission case disposals) as of March 2024.