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  • NCLAT hears Oyo subsidiary's case on May 4 -- Here's all you need to know about the issue so far May 04, 2021 11:47 AM IST

    NCLAT hears Oyo subsidiary's case on May 4 -- Here's all you need to know about the issue so far

    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

  • Homebuyers drag Delhi-NCR developer Ajnara to bankruptcy court for 4-year delay in project Apr 24, 2021 06:39 PM IST

    Homebuyers drag Delhi-NCR developer Ajnara to bankruptcy court for 4-year delay in project

    NCLT Delhi issues notice to Ajnara India seeking response to decide on further course of action.

  • Bank of Maharashtra aims to resolve 20-25 stressed MSME loans under pre-packaged resolution process Apr 24, 2021 05:37 PM IST

    Bank of Maharashtra aims to resolve 20-25 stressed MSME loans under pre-packaged resolution process

    Rudra said under the pre-packaged insolvency resolution system, the government has given an opportunity for MSMEs to resolve their stress at an early stage while holding control over their business.

  • NCLAT stays corporate insolvency proceedings against Oyo subsidiary Apr 08, 2021 03:02 PM IST

    NCLAT stays corporate insolvency proceedings against Oyo subsidiary

    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.

  • Noida’s Wave Mega City Centre files application before NCLT Mar 26, 2021 08:00 PM IST

    Noida’s Wave Mega City Centre files application before NCLT

    Earlier this month, Noida Authority had seized 1.08 lakh sq m land belonging to the Wave Mega City Centre located in the heart of Noida in Sector 32.

  • NCLT nod to Airtel, Hughes VSAT satellite operations merger Mar 25, 2021 04:15 PM IST

    NCLT nod to Airtel, Hughes VSAT satellite operations merger

    Very Small Aperture Terminal (VSAT) is used to provide satellite based telecom and internet access to individuals and enterprise users, and is utilised extensively by banks and ATMs.

  • NCLT has jurisdiction to adjudicate disputes solely relating to insolvency of corporate debtor: SC Mar 08, 2021 08:59 PM IST

    NCLT has jurisdiction to adjudicate disputes solely relating to insolvency of corporate debtor: SC

    In the absence of a court exercising exclusive jurisdiction over matters relating to insolvency, the corporate debtor would have to file and/or defend multiple proceedings in different fora.

  • DHFL auditor Grant Thornton finds another fraud of Rs 1,424 crore Mar 05, 2021 10:57 PM IST

    DHFL auditor Grant Thornton finds another fraud of Rs 1,424 crore

    The administrator of the company received an initial report from the transaction Auditor, indicating that there are certain transactions which are undervalued, fraudulent and preferential in nature, DHFL said in a regulatory filing.

  • Jet Airways resolution process: MoCA, DGCA say no deemed approvals for slots Mar 04, 2021 07:46 PM IST

    Jet Airways resolution process: MoCA, DGCA say no deemed approvals for slots

    Jet Airways shuttered operations in April 2019 after running out of cash and is currently a resolution process under the Insolvency and Bankruptcy Code (IBC).

  • 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.

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