NCLAT
NCLAT News
NCLAT to ED: Release attached assets of Bhushan Power & Steel
The ED had on Saturday attached assets worth over Rs 4,025 crore of BPSL in connection with its money-laundering probe linked to an alleged bank loan fraud. It had said that it attached land, building, plant and machinery of the company located in Odisha under the provision of PMLA.
Bhushan Power case: NCLAT to hear JSW Steel's plea on Oct 14
"We allow the appellant to implead Union of India through Ministry of Corporate Affairs and Enforcement Directorate as respondent No 3 & 4. The UoI may address the matter on behalf of CBI and SFIO," said NCLAT.
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Settle Rs 195-crore dues with HUDCO in four weeks: NCLAT tells Vikram Bakshi
While Bakshi has paid around Rs 72 crore out of his total dues, HUDCO counsel Rohit Sharma said the state-owned entity is seeking Rs 141 crore more from the former McDonald’s promoter.
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.
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.
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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.
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).
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