National Company Law Tribunal

National Company Law Tribunal News

Lok Sabha nod to Companies Amendment Bill

Pinaki Misra of BJD described the Bill as “disastrous” and A Raja of the DMK said the Registrar of Companies had been given “excessive powers”.   

‘Going to court is like going to a graveyard’: A day in the life of an NCLT courtroom, Fort, Mumbai

Since January 2017, National Company Law Tribunal, the adjudicating authority for bankruptcy and corporate cases, has admitted 1,858 cases and managed closure in little over a half. No surprise then that ‘judicial members’ usually have one advice: settle

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Centre orders probe into Jet Airways over alleged mismanagement of funds

The cash-strapped company became the first domestic airliner to go into bankruptcy after the Mumbai bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by SBI on behalf of 26 lenders on June 20.

Sebi bars Hotel Leelaventure from selling properties to Brookfield Asset Management

On March 18, Hotel Leelaventure Ltd (HLVL) had announced the sale of its four hotels located in Bengaluru, Chennai, Delhi and Udaipur, and a property to Canadian investment fund Brookfield for Rs 3,950 crore.

Essar Steel resolution: Ruias move NCLAT

In January, the NCLT had rejected the Ruias’ plea for placing an offer for resolution of Essar Steel, promoted by the latter.

Ahead of January 7 hearing, Essar invokes NCLT’s ‘spirit of IBC’

Commenting on the order, an Essar Group spokesperson said, “The judgement will have an important and urgent bearing in the case of resolution proceedings in the case of Essar Steel, where the NCLT Ahmedabad is seized with similar circumstances”.

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IL&FS new board blames lenders for blocking payments

The board said it will initiate the process to divest its stake in IL&FS Education, IL&FS Technologies, ONGC Tripura Power Company and IL&FS Paradip Refinery Water.

Global Energy approaches NCLT against Tata Motors

The shares of Tata Motors closed at Rs 178.65 a piece, up 0.76 per cent while Sensex advanced 550.92 points, or 1.63 per cent, to close at 34,442.05.

Rs 91,000-crore debt: IL&FS board to submit revival plan to NCLT; sale of company also on the cards

The group’s recovery plan also includes selling of some of its subsidiaries and road projects.

Appellate Tribunal order: NCLAT grants interim relief to IL&FS against creditor actions

IL&FS has an aggregate debt of Rs 91,000 and has been defaulting on its debt obligations since last month, putting the credit markets in a downward spiral.

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