NCLAT allows 22 domestic subsidiaries of IL&FS to service debt obligations

The two-member bench, headed by Justice S J Mukhopadhaya, also approved appointment of former Supreme Court judge Justice D K Jain to supervise resolution process of the IL&FS group.

SBI set to delay auction of Essar Steel loans following NCLAT order

The battle for Essar Steel with a annual capacity of 10 million metric tons has been one of the most hotly contested under the insolvency resolution process.


NCLAT asks NCLT to pass order by January 31

More than 500 days have gone by since the petition against Essar Steel was admitted by the NCLT, Ahmedabad, on August 2, 2017.

NCLAT suggests appointing a former Supreme Court judge for IL&FS asset sales

The appellate tribunal was hearing a petition filed by the Ministry of Corporate Affairs (MCA) and IL&FS.

NCLAT stays insolvency proceedings against ECL

Although ECL had already paid the principal sum of around Rs 84.71 lakh to GOLIL, one of its operational creditors, it did not pay the amount of interest at the rate of 18 per cent per annum.

Justice Sudhansu Jyoti Mukhopadhaya: ‘IBBI needs to have more powers’

Mukhopadhaya argued that IBBI should be empowered on the lines of Sebi.


NCLAT says Numetal bid for Essar Steel eligible, asks ArcelorMittal to clear dues in 3 days

NuMetal and steel tycoon Lakshmi Mittal-led ArcelorMittal had in February submitted separate bids to takeover Essar Steel, which lenders were auctioning to recover their Rs 49,000 crore defaulted loans.

NCLAT quashes pleas challenging eligibility

Removes uncertainty on Bhushan Steel, Electrosteel cases

NCLAT declines to stay delisting of ElectroSteel Steels by Vedanta

On May 30, NCLAT allowed Vedanta to make a Rs 5,320 crore upfront payment to lenders for acquiring Electrosteel Steels with a caveat that the payment would be subject to the outcome of the petition filed by Renaissance Steel challenging Vedanta’s bid.

NCLAT directs Reliance Communications to pay Rs 550 crore to Ericsson, stays insolvency process

RCom lenders had also opposed the NCLT order as they see in Jio best option to recover their dues. RCom had reached a settlement with HSBC Daisy Investments — a minority shareholder in Reliance Infratel.