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  • NCLT approves Piramal Enterprises' demerger of pharma business Aug 12, 2022 08:26 PM IST

    NCLT approves Piramal Enterprises' demerger of pharma business

    The firm also stated that the demerged firms' performance is projected to improve over the next several years since they will be more focused and able to pursue quicker expansion.

  • Sanskar Projects and Housing taken to NCLT over default Aug 09, 2022 08:27 PM IST

    Sanskar Projects and Housing taken to NCLT over default

    Financial creditor Realpro Realty Solutions slaps Section 7 of Insolvency and Bankruptcy Code on the realtor which constructs builder flats in Delhi for Rs 5-crore default

  • Jet Airways' lenders threaten insolvency over aircraft rental proceeds: Report Jul 22, 2022 03:12 PM IST

    Jet Airways' lenders threaten insolvency over aircraft rental proceeds: Report

    The banks have told the Jalan-Kalrock consortium that they will apply for liquidation if lease rentals are not distributed to the verified lenders, the report said

  • Public agencies lose crores to delay in filing of claims with NCLT Jul 21, 2022 09:58 AM IST

    Public agencies lose crores to delay in filing of claims with NCLT

    Public officials also have a poor understanding of the IBC procedures

  • Explained | NCLT orders insolvency proceedings against Future Retail: Five key questions answered Jul 20, 2022 06:05 PM IST

    Explained | NCLT orders insolvency proceedings against Future Retail: Five key questions answered

    With the NCLT order, banks can now formally initiate insolvency proceedings against Future Retail and try to recover the more than Rs 5,300 crore owed to them.

  • Shriram Transport Finance MD says expect merger completion in 2-3 months Jul 06, 2022 03:44 PM IST

    Shriram Transport Finance MD says expect merger completion in 2-3 months

    In an exchange filing today, STFC said that as per the consolidated shareholder voting results, 98.1 percent of votes were cast in favour of the resolution while 1.9 percent of shareholders voted against the resolution.

  • RBI approves reappointment of P.N. Vasudevan as MD, CEO of Equitas Small Finance Bank Jun 15, 2022 08:58 PM IST

    RBI approves reappointment of P.N. Vasudevan as MD, CEO of Equitas Small Finance Bank

    With SEBI and RBI’s approvals, the reverse merger process of Equitas SFB now only requires approvals from shareholders, creditors, and NCLT approvals.

  • Can NCLT order a liquidation if creditors want to settle? Jun 07, 2022 11:33 AM IST

    Can NCLT order a liquidation if creditors want to settle?

  • NCLT dismisses Wave Megacity Centre's plea to initiate insolvency proceedings against itself Jun 07, 2022 11:27 AM IST

    NCLT dismisses Wave Megacity Centre's plea to initiate insolvency proceedings against itself

    The National Company Law Tribunal (NCLT) on Monday dismissed a plea by real estate firm Wave Megacity Centre to initiate insolvency proceedings against itself.

  • Supreme Court’s decision on Siva Industries may set a good precedent for IBC cases, experts say Jun 06, 2022 05:21 PM IST

    Supreme Court’s decision on Siva Industries may set a good precedent for IBC cases, experts say

    The court’s June 3 order will give more power to lenders and ensure speedy recovery in cases under the bankruptcy court, according to bankers and legal experts

  • NCLT to hear Amazon’s petition not to initiate IBC proceedings against Future Retail Jun 06, 2022 05:03 PM IST

    NCLT to hear Amazon’s petition not to initiate IBC proceedings against Future Retail

    This is the third time that the court delayed admission of insolvency proceedings against the debt-laden retailer. The case is adjourned for June 10.

  • Siva Industries saved from collapse as top court tosses liquidation order, rebukes tribunal for overlooking creditors wisdom Jun 04, 2022 12:04 PM IST

    Siva Industries saved from collapse as top court tosses liquidation order, rebukes tribunal for overlooking creditors wisdom

    “Decision of the creditors (to settle up) was taken after ... exercising commercial wisdom. Neither the bankruptcy appeals tribunal nor the lower tribunal was justified in not giving due weightage to the wisdom,” the court says.

  • NCLT admits insolvency plea against National Textile Corporation May 27, 2022 07:22 PM IST

    NCLT admits insolvency plea against National Textile Corporation

    National Textile Corporation defaulted in its payment of dues to an operational creditor, leading to the NCLT admitting the creditor's petition for initiating corporate insolvency resolution proceedings.

  • Waaree Energies gets NCLT approval to acquire Indosolar May 27, 2022 12:59 PM IST

    Waaree Energies gets NCLT approval to acquire Indosolar

    "Waaree Energies Ltd has received the approval from the National Company Law Tribunal, Delhi Bench (NCLT) on April 21, 2022, for the resolution plan submitted by it towards the acquisition of Indosolar Ltd, a manufacturer of solar cells, under the corporate insolvency resolution process (CIRP) initiated by the lenders of Indosolar Ltd under the Insolvency and Bankruptcy Code 2016,” a company statement said.

  • NCLT allows ICICI Pru Venture Capital to withdraw insolvency proceedings against ATS group firm May 25, 2022 03:47 PM IST

    NCLT allows ICICI Pru Venture Capital to withdraw insolvency proceedings against ATS group firm

    The dispute relates to a Rs 75 crore loan by ICICI Pru Venture to the Noida-based developer. The National Company Law Appellate Tribunal had earlier stayed the insolvency proceedings initiated by NCLT in March 2022.

  • CJI-led panel mulls extending tenure of 23 NCLT members May 25, 2022 02:34 PM IST

    CJI-led panel mulls extending tenure of 23 NCLT members

    The Supreme Court is told that the panel headed by the CJI will meet again in the next 10 days to deliberate on the issue of tenure extension for members of NCLT who are set to retire this year.

  • Non-payment of TDS not a ground for initiation of insolvency process: NCLAT May 23, 2022 03:32 PM IST

    Non-payment of TDS not a ground for initiation of insolvency process: NCLAT

    New Delhi, May 23 The National Company Law Appellate Tribunal (NCLAT) has held that dues on account of non-payment of TDS can not be a ground to ini..

  • NCLAT dismisses Hinduja Leyland Finance plea for insolvency proceedings against Fly Express May 22, 2022 01:18 PM IST

    NCLAT dismisses Hinduja Leyland Finance plea for insolvency proceedings against Fly Express

    The NCLT had said the date of default was December 24, 2022 which falls within prohibition period mentioned in Section 10 A of the IBC and no petition can ever be filed for initiation of Corporate Insolvency Resolution Process for a default occurring in such period

  • NCLAT stays NCLT order directing RattanIndia Finance to appoint JV nominee as CFO May 20, 2022 01:07 PM IST

    NCLAT stays NCLT order directing RattanIndia Finance to appoint JV nominee as CFO

    Earlier, on March 29, the New Delhi-based bench of the National Company Law Tribunal (NCLT), had directed to appoint Kabra as its chief financial officer (CFO), over the plea filed by RattanIndia Finance’s JV partner — LSF 10 Rose Investments.

  • Centre puts Pawan Hans sale on hold after concerns raised about winning bidder May 16, 2022 04:45 PM IST

    Centre puts Pawan Hans sale on hold after concerns raised about winning bidder

    Almas Global Opportunity Fund, a majority stakeholder in Star9Mobility, has come under the scanner as it was earlier prosecuted by the National Company Law Tribunal.

  • NCLT orders insolvency proceedings at Andhra Cements Apr 28, 2022 08:15 PM IST

    NCLT orders insolvency proceedings at Andhra Cements

    The cement maker had availed credit facilities from banks including IDFC First Bank, HDFC and Karur Vysya Bank from 2012 to 2016, which were subsequently acquired by current creditor Pridhvi Asset Construction and Securitisation Company (Paras)

  • Yes Bank initiates insolvency proceedings against Zee Learn Apr 25, 2022 08:03 PM IST

    Yes Bank initiates insolvency proceedings against Zee Learn

    Yes Bank has alleged a default on a financial facility worth Rs. 468 crores, Zee Learn said in an exchange filing

  • Bank of India takes Future Retail To NCLT over non-payment of dues Apr 14, 2022 08:02 PM IST

    Bank of India takes Future Retail To NCLT over non-payment of dues

    Future Group is locked in a legal dispute with U.S.-retailer Amazon over its plan to sell its retail, wholesale, warehousing and logistics business to Reliance Industries in $3.4 billion deal.

  • NCLT directs RattanIndia Finance to appoint Bipin Kabra as its CFO Apr 05, 2022 01:27 PM IST

    NCLT directs RattanIndia Finance to appoint Bipin Kabra as its CFO

    LSF 10 Rose Investments, is a subsidiary of US-based private equity firm Lone Star Funds (LSF), and holds 50 per cent shareholding in RattanIndia Finance (RF), a non-banking finance company.

  • How real-estate regulator RERA failed to help homebuyers stuck in bad housing projects Mar 31, 2022 08:55 AM IST

    How real-estate regulator RERA failed to help homebuyers stuck in bad housing projects

    The failure of the real estate regulator in Haryana to give relief to homebuyers in the Green View project developed by a state-owned company is only one instance of its limitations and indifference.

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