NCLT

NCLT News

NCLT okays common RP for RCom, two arms

According to the proceedings, the majority of the committee of creditors (CoC) across the three firms independently voted to appoint Anish Nanavati as the RP to replace the existing interim resolution professionals (IRP).

ED moves NCLT to stop liquidation of Winsome Diamonds

Winsome Diamonds promoted by Jatin Mehta and its subsidiaries owe nearly Rs 10,000 crore including interest to a consortium of 15 banks led by Standard Chartered and Punjab National Bank.

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NCLT adjourns hearing on Jet Airways to June 20

These two companies had on June 10 dragged the airline to the NCLT seeking bankruptcy proceedings. The airline, which was grounded on April 17, owes Rs 8.74 crore to Shaman Wheels and Rs 53 lakh to Gaggar Enterprises.

NCLT issues notices to Bawa, CEOs of Axis, Standard Chartered Bank

The CEOs of the banks as well as Bawa, his wife and daughter have been given 14 days time to reply to the notice after which MCA has seven days time to file its rejoinder.

NCLT to Sterling Biotech lenders: How can you accept settlement plan of absconder

Sterling Biotech was referred to the NCLT in June last year for insolvency proceedings under the Corporate Insolvency Resolution Process (CIRP).

Reid & Taylor liquidation ordered

Reid & Taylor was launched by S Kumar’s Nationwide (SKNL) in India in 1998 with a fabric plant at Mysuru in Karnataka. The company had around 1,200 employees. SKNL is also facing bankruptcy proceedings.

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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.

‘Fraud’ detected over two years ago, govt yet to take over AEPC

Keeping in view the allegations of large scale fraud of government grants by the AEPC, the then Textiles Secretary Rashmi Verma wrote in July 2016 to MCA that the government appoint an administrator to take over its management.

NCLT order: Nine IL&FS ex-officials can’t sell assets

The bench said the officials are restrained from creating mortgage, lien, charge or alienating any of their personal properties, as well as dealing with any securities in any company till the next date of hearing, which is December 16.

GN Bajpai resigns from IL&FS board

Bajpai, who was a former Chairman of Sebi and LIC, resigned with effect from October 30, IL&FS said in a regulatory filing.

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