NCLAT
NCLAT News
No new round of bidding, NCLAT orders liquidation of Amtek Auto
On June 13, the resolution professional (RP) for Amtek Auto, Dinkar Venkatasubramanian, and the CoC had sought fresh bids for the debt-ridden company after Liberty House Group backed out. This was based on a new information memorandum.
Explained: Why SC stayed NCLAT ruling on Essar Steel
The NCLAT ruling in the Essar Steel case stated that all creditors whether financial or operational have to be treated equally in the case of a “resolution” under the IBC.
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Jaypee insolvency: NCLAT asks IDBI Bank for fresh terms to invite bids
In the second round of bidding, the committee of creditors had first rejected the resolution plan of Suraksha Realty and then voted against state-owned NBCC’s offer.
NCLAT agrees to hear Dutch Court administrator in Jet Airways insolvency case
Jet Airways is facing insolvency proceedings in the Netherlands, as well as where it was declared bankrupt after it failed to pay two European creditors. Subsequently, a bankruptcy administrator was appointed by the Dutch court.
Diluting the code
In insolvency proceedings, distinction between secured financial and operational creditors must be maintained.
Jet Airways bankruptcy: NCLAT to hear SBI petition Thursday; shares tank
The debt-laden company, which began operations 25 years ago, grounded its jets on April 17. Its founder and chairman Naresh Goyal stepped down a month before in March in an effort to revive the company.
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Jaypee Infratech insolvency: NCLAT says banks can vote against NBCC proposal
Lenders consortium, led by IDBI Bank, had approached NCLAT seeking permission to vote against NBCC bid. The voting process started on May 31 and will conclude on Monday (June 10).
NCLAT annuls lenders' voting on NBCC's bid to acquire Jaypee Infratech
A three-member bench of the NCLAT headed by Chairman Justice S J Mukhopadhaya asked the lenders to conduct a fresh voting from May 31.
NCLAT seeks Anil Ambani's response after shareholders file contempt plea
HSBC Daisy moved the appellate tribunal over the alleged default of payment of Rs 230 crore by Reliance Infratel.
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.
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