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Vedanta arm gets nod for Videocon takeover

June 09, 2021 10:34 am

Consumer durables company Videocon Industries Ltd was part of a list of 26 large defaulters referred to the NCLT by the Reserve Bank in the second set of companies referred for insolvency proceedings by the central bank.

Appellate tribunal stays NCLT order on Wadhawan offer

May 26, 2021 5:13 am

On May 24, the administrator and the lenders of DHFL in two separate petitions had asked the NCLAT to dismiss the NCLT order asking them to evaluate Wadhawan’s offer and termed it as “illegal and in breach of settled provision of law”.

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Oyo denies seeking bankruptcy after $22,000 claim

April 07, 2021 7:07 pm

Oyo Hotels founder Ritesh Agarwal tweeted Wednesday his company had initially disputed an unidentified supplier’s claim for 16 lakh rupees or about $22,000, but eventually paid “under protest.”

NCLT Chandigarh agrees to hear plea alleging mismanagement at Omaxe

January 20, 2021 6:11 am

The petition has been filed by a former joint managing director of the company, Sunil Goel and his wife Seema Goyal alleging that the construction company was being run in a manner prejudicial to the shareholders of the company.

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Gujarat HC to NCLT: ‘Either opt for virtual or physical proceedings’

September 02, 2020 3:48 am

The division bench held that if the NCLT wishes to move to physical proceedings, it may but only with the consent of all lawyers appearing in the relevant litigation.

Explained: Why does Anil Ambani face bankruptcy proceedings?

August 23, 2020 10:12 am

The insolvency process will be initiated against Anil Ambani because he had given personal guarantees against loans provided to his firms. This is one of the first cases of insolvency against a major business group head.

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NCLT to hear MCA plea on Delhi Gymkhana Club ‘mismanagement’

April 25, 2020 1:37 am

The MCA had, earlier this week, petitioned the NCLT to suspend the general committee of the club with immediate effect, and replace it with a central government-appointed administrator.

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MCA gets NCLT nod to recast financial statements of CG Power

March 07, 2020 5:13 am

The MCA had submitted before the NCLT that the CG Power group had understated advances to related and unrelated parties of the firm by Rs 1,990 crore and Rs 2,807 crore, respectively, as of March 2018, based on disclosures by the firm’s board of directors.

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Who is Cyrus Mistry?

December 18, 2019 4:44 pm

Cyrus Mistry was the sixth chairman of Tata Sons and had taken over in 2012 after Ratan Tata. Mistry was ousted as Tata Sons chairman on October 24, 2016, and was also removed subsequently as a director on the board of the holding company on February 6, 2017.