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  • Jet Airways proposed resolution to pay off Rs 1,118 crores in 5 years, public stake to fall to 0.21% Feb 24, 2021 01:05 PM IST

    Jet Airways proposed resolution to pay off Rs 1,118 crores in 5 years, public stake to fall to 0.21%

    The Kalrock-Jalan consortium was declared the winning bidder for Jet Airways by the creditors' committee in October last year.

  • NCLT rejects applications seeking copy of Jet Airways' resolution plan Feb 23, 2021 08:42 PM IST

    NCLT rejects applications seeking copy of Jet Airways' resolution plan

    On Monday, the tribunal had also rejected applications of five employee unions who had appealed to see the resolution plan.

  • TVS family to implement MFA through composite scheme of arrangement at NCLT Feb 11, 2021 08:18 PM IST

    TVS family to implement MFA through composite scheme of arrangement at NCLT

    On December 10, 2020, an MFA was executed among various mem­bers of the TVS family who are shareholders of T V Sundram Iyengar & Sons (TVSS), Sundaram Industries (SIPL), and Southern Roadways (SRW). The three firms are collectively refer­red to as the TVS holding companies.

  • NCLT agrees to admit petition filed against real estate major Omaxe Ltd Jan 20, 2021 09:07 PM IST

    NCLT agrees to admit petition filed against real estate major Omaxe Ltd

    The two-member NCLT bench termed the matter as 'exceptional' and having 'compelling circumstances' against the Delhi-based realty firm.

  • Emaar India issues public notice of NCLT, cautions public against dealing in Okhla land Jan 18, 2021 03:09 PM IST

    Emaar India issues public notice of NCLT, cautions public against dealing in Okhla land

    One of the key allegations described in the NCLT proceedings is fraudulent siphoning of a land parcel of approximately 4.88 acres in Okhla, Delhi from Emaar MGF to MGF Group.

  • GMR Infrastructure gets nod from stock exchanges on proposed rejig plan Dec 21, 2020 02:26 PM IST

    GMR Infrastructure gets nod from stock exchanges on proposed rejig plan

    The company said it will file the scheme with the National Company Law Tribunal (NCLT) within six months.

  • NCLT approves Rs 103 crore resolution plan for NIIL Infrastructures Nov 15, 2020 06:12 PM IST

    NCLT approves Rs 103 crore resolution plan for NIIL Infrastructures

    A two-member Principal bench of NCLT, headed by Acting President BSV Prakash Kumar, has approved the Rs 103.18 crore resolution plan by a consortium of Rishabh Verma and Shilendra Khirwar along with N-Homes.

  • Lenders to debt-ridden DHFL to meet on October 26 to take call on bids Oct 25, 2020 07:57 PM IST

    Lenders to debt-ridden DHFL to meet on October 26 to take call on bids

    Since investors have submitted poor bids, lenders are set to lose whopping Rs 68,000 crore against the total liabilities of Rs 95,000 crore, according to sources.

  • Videocon insolvency case: Dhoots offer to pay Rs 30,000 crore to lenders Oct 21, 2020 05:28 PM IST

    Videocon insolvency case: Dhoots offer to pay Rs 30,000 crore to lenders

    The settlement offer has been made for 13 out of the 15 Videocon group companies that are currently under CIRP.

  • Former Cox & Kings employees say they now drive autorickshaws or sell fish, juices and vegetables for a living Oct 21, 2020 03:43 PM IST

    Former Cox & Kings employees say they now drive autorickshaws or sell fish, juices and vegetables for a living

    Over 2,500 former employees of Cox and Kings who have not been paid salaries from June 2019 to October 2020 have moved the National Company Law Tribunal for unpaid dues

  • Oaktree Capital offers Rs 28,000 crore for entire DHFL portfolio: Report Oct 19, 2020 03:51 PM IST

    Oaktree Capital offers Rs 28,000 crore for entire DHFL portfolio: Report

    Oaktree Capital is said to have offered the highest recovery for lenders by far and maybe a natural choice. However, banks are planning to negotiate the offer higher and would hold discussions with the bidders over this week

  • 3-Point Analysis | Jet’s resolution plan passed. Will the airline take off again? Oct 19, 2020 12:38 PM IST

    3-Point Analysis | Jet’s resolution plan passed. Will the airline take off again?

    Will Jet Airways take off again? Let’s find out in this edition of 3-Point Analysis

  • Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over Rs 60,000 crore write-off Oct 18, 2020 07:59 PM IST

    Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over Rs 60,000 crore write-off

    DHFL was the first finance company to be referred to NCLT by the RBI using special powers under section 227.

  • Exclusive | At least 13 Delhi-NCR projects accorded final approval under SWAMIH Fund Oct 13, 2020 10:02 AM IST

    Exclusive | At least 13 Delhi-NCR projects accorded final approval under SWAMIH Fund

    A majority of the projects considered for stress funding had RERA and NCLT cases pending against them

  • Delhi HC stays IBC proceedings against Anil Ambani in Rs 1,200 crore loan default case Aug 27, 2020 01:37 PM IST

    Delhi HC stays IBC proceedings against Anil Ambani in Rs 1,200 crore loan default case

    Anil Ambani earlier moved the Delhi High Court against the appointment of a resolution professional (RP) on the personal guarantee given by him against a loan taken by Reliance Communications Ltd (RCom) and Reliance Infratel Ltd (RITL) from SBI.

  • NCLT order on SBI-ADAG case: Banks target personal guarantees to chase high-profile loan defaults Aug 21, 2020 07:28 PM IST

    NCLT order on SBI-ADAG case: Banks target personal guarantees to chase high-profile loan defaults

    Indian lenders after burning their fingers in the Vijay Mallya-Kingfisher Airlines case have been aggressive in chasing loan defaulters in cases where there is a personal guarantee by promoters.

  • Rs 1200-crore loan default case: NCLT allows appointment of RP in SBI’s case against Anil Ambani Aug 21, 2020 12:38 PM IST

    Rs 1200-crore loan default case: NCLT allows appointment of RP in SBI’s case against Anil Ambani

    A spokesperson of Anil Ambani has said the company is reviewing the NCLT order and taking advice on filing appropriate appeal against appointment of RP.

  • The uphill task of getting refunds from bankrupt airlines and tour operators Jul 30, 2020 09:09 AM IST

    The uphill task of getting refunds from bankrupt airlines and tour operators

    While the NCLT takes care of secured creditors and employees, consumers have to travel a long road to recover their pending dues

  • NCLAT directs Bharti Airtel, Bharti Hexacom to pay Rs 112 crore to Aircel Jul 14, 2020 07:30 PM IST

    NCLAT directs Bharti Airtel, Bharti Hexacom to pay Rs 112 crore to Aircel

    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.

  • NCLAT upholds NCLT order to initiate insolvency against HDIL, rejects Rakesh Wadhwan's plea Jul 14, 2020 06:30 PM IST

    NCLAT upholds NCLT order to initiate insolvency against HDIL, rejects Rakesh Wadhwan's plea

    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.

  • NCLT approves Deccan Value Investors' bid for Amtek Auto Jul 11, 2020 06:51 PM IST

    NCLT approves Deccan Value Investors' bid for Amtek Auto

    The tribunal observed that the resolution plan submitted by DVI fulfils all the requirements of regulations of the corporate insolvency resolution process and has been approved by the Committee of Creditors (CoC).

  • I-T exemption on buying shares at discounted price in firms under insolvency proceedings Jun 30, 2020 07:40 PM IST

    I-T exemption on buying shares at discounted price in firms under insolvency proceedings

    The Central Board of Direct Taxes (CBDT) through a notification said the exemptions would come into effect from April 1, 2020, and shall be applicable for the assessment year 2020-21 and thereafter.

  • NCLT reserves order on SBI plea against Anil Ambani to recover over Rs 1,200 crore Jun 30, 2020 07:27 PM IST

    NCLT reserves order on SBI plea against Anil Ambani to recover over Rs 1,200 crore

    The public sector lender had approached the tribunal under Section 97(3) of the Insolvency and Bankruptcy Code (IBC), seeking its intervention to direct the insolvency board to nominate a resolution professional (RP) to assess and submit a report on the assets owned by Ambani.

  • NCLT allows Jet Airways to sell office in Bandra Kurla Complex Jun 15, 2020 10:40 AM IST

    NCLT allows Jet Airways to sell office in Bandra Kurla Complex

    Jet Airways' insolvency resolution professional Ashish Chhawchharia had moved the NCLT to seek approval to sell its third and fourth floor in Godrej BKC building to clear overseas debt to transfer the title of six aircraft under Export-Import Bank of the US to the corporate debtor, which would help in maximising value of the defunct airline.

  • NCLT approves Aircel resolution plan even as ARC offers only 1.5% of Rs 20,000 crore bank dues: Report Jun 10, 2020 02:38 PM IST

    NCLT approves Aircel resolution plan even as ARC offers only 1.5% of Rs 20,000 crore bank dues: Report

    Aircel had submitted an application under Section 10 of the IBC in February 2018 after it failed to repay loans

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