NCLT

NCLT News

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.

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.

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‘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.

To recover dues from Anil Ambani firms, 24 creditors move tribunal

Of the creditors that have moved court, at least 11 firms have settled or are in the process of settling the dispute with Anil Ambani’s firms through NCLT. The disputes of the remaining 13 firms with RCom and Reliance Telecom are yet to be resolved.

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In surprise move, government takes control of indebted IL&FS

The nation’s corporate affairs ministry has sought to take control of a company on just two prior occasions, and only followed through once, with Satyam Computer Services Ltd. in 2009.

Govt moves NCLT for management change at IL&FS

IL&FS, where LIC is the largest shareholder with a 25.34 per cent stake, has a debt burden of over Rs 90,000 crore.

NCLT issues notices to Malvinder, Godhvani; directs status quo over RHC Holdings

A two-member bench headed by NCLT President Justice M M Kumar issued notices to Malvinder, Godhwani and others after Shivinder's petition over alleged "oppression and mismanagement" of RHC Holdings.

Vodafone completes merger with Idea, creates India's largest mobile operator

The combination will have all India revenue market share of 32.2 per cent and take the numero uno slot in nine telecom circles.

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