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Friday, April 10, 2020

National Company Law Tribunal

NATIONAL COMPANY LAW TRIBUNAL NEWS

MCA gets NCLT nod to recast financial statements of CG Power

March 07, 2020 5:13 am

The MCA had submitted before the NCLT that the CG Power group had understated advances to related and unrelated parties of the firm by Rs 1,990 crore and Rs 2,807 crore, respectively, as of March 2018, based on disclosures by the firm’s board of directors.

Amid shortage of benches, over 19,700 cases pending at NCLT

December 04, 2019 5:06 am

In the current fiscal, about 1,037 cases of corporate insolvency have been admitted by various benches of National Company Law Tribunal (NCLT) across India until September 30 — an increase of 51.6 per cent over the year-ago period.

NCLT agrees to hear Air India case; seeks response from carrier by December 9

November 28, 2019 4:49 am

A two-member Bench of Justice Ina Malhotra and Justice LN Gupta, while agreeing to hear the case, sought AI’s response by December 9, when it will next hear the case.

Ahmedabad: NCLT orders to restore delisted Surat-based diamond firm

November 20, 2019 12:23 am

According to the appeal filed by Vinod Tarachand Agrawal, liquidator of JR Diamonds Pvt Ltd, the company came to know in October 2018 from the web portal of the Ministry of Corporate Affairs (MCA) that its name was struck off on August 6, 2018.

Lok Sabha nod to Companies Amendment Bill

July 27, 2019 1:34 am

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

July 14, 2019 2:35 am

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

Centre orders probe into Jet Airways over alleged mismanagement of funds

July 04, 2019 10:28 pm

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

April 24, 2019 2:02 pm

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

February 12, 2019 1:37 am

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’

January 04, 2019 2:50 am

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”.