Page 12 - Nclat

NCLAT dismisses ArcelorMittal plea over debt-ridden EPC Construction

The steel major has contended that the resolution plan submitted by it was ex facie a better resolution plan selected by the CoC.

Bhushan Power resolution may have to wait longer due to IBC amendments

Process tied in legal knots even with the latest set of amendments to IBC

Jaypee homebuyers' body urges lenders, flat owners to vote for NBCC bid

This is the third round of bidding process, which has been initiated on the direction of the apex court.

NCLAT stays NCLT directive making MCA party in all insolvency cases

The appellate tribunal's direction came over a petition filed by the government through the Ministry of Corporate Affairs (MCA) challenging the NCLT order

SC orders interim stay on NCLAT order on Orchid Pharma resolution process

SBI filed the appeal with the Supreme Court to set aside the NCLAT order alleging that the appellate tribunal erred in overriding the commercial wisdom of the CoC

Jaypee Infra lenders to put bids of NBCC, Suraksha on vote simultaneously

Anuj Jain was appointed as an interim resolution professional (IRP) to conduct insolvency process and also manage the affairs of the company.

Govt moves NCLAT against NCLT order making MCA party in all IBC cases

The appellate tribunal is expected to hear the case on Friday

Govt to set up NCLAT bench in Chennai to cut down on backlog: Minister

It has also set up five new benches of NCLT during 2018-2019 at Jaipur, Cuttack, Kochi, Indore and Amaravati, with this aim

BMW India gets clean chit from NCLAT over dominance abuse charge

CCI has said that as BMW has a negligible share in the passenger car segment in India, hence the question of abuse of dominant position did not arise

Individual insolvency rules: Breach of personal guarantee is quite severe

The law can help keep a check on instances where loans are given not on the basis of the debtor's creditworthiness, but because of a personal guarantor

NCLAT approves RIL's plea to delist Alok Industries from exchanges

The appellate tribunal observed that Sebi in its affidavit had also said that there is no requirement for permission of the market regulator for such delisting

NCLAT extends deadline to implement Patanjali's Ruchi Soya bid to Dec 16

The appellate is hearing some other matters related to Ruchi Soya, which are slated to be heard on December 9

NCLAT rejects DBS Bank plea challenging Ruchi Soya resolution plan

The Mumbai bench of the National Company Law Tribunal (NCLT) has approved around Rs 4,350-crore resolution plan on July 24, 2019

NCLAT gives Sterling promoters 30 more days to settle creditors' dues

The NCLAT had said it will not come in the way of the individuals such as promoters and directors

NCLAT sets aside Dhanuka's resolution plan for debt-laden Orchid Pharma

NCLT had approved Dhanuka's resolution plan on June 25, 2019

NCLAT asks for Sebi reply on new share delisting norms for insolvency firms

The NCLAT direction came while hearing the petition filed by Reliance Industries Ltd, which is seeking waiver in delisting procedure for Alok Industries.

NCLAT quashes Apeejay Tea insolvency proceedings; board's powers reinstated

On October 18, 2019 the Kolkata bench of the NCLT had admitted an insolvency plea of an operational creditor of Apeejay Tea claiming dues

Explained: Are Enforcement Directorate's seizures harming the economy?

ED's move could stall the resolution process, prevent banks from recovering their pending dues

Can financial creditor sell assets of firms in liquidation? NCLAT to decide

The judgment is likely to have a big impact on the insolvency process and will decide if errant promoters have one last shot at regaining control of their company and its assets, experts said

NCLAT sets aside Ambience insolvency proceedings; NCLT to decide afresh

The National Company Law Appellate Tribunal has set aside an NCLT order to initiate insolvency proceedings against real estate development company Ambience Ltd over the plea of Vistra ITCL India (formerly known as IL&FS Trust Company). A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has remitted the matter back to the National Company Law Tribunal (NCLT), directing it to decide afresh as the order was passed by a single member only. Vistra ITCL India's plea to initiate insolvency was heard by a NCLT bench comprising -- Member (Judicial) and Member(Technical) -- and the order was reserved on April 22, 2019 for judgement. However, Member (Technical) retired on July 9, 2019 and the order to initiate insolvency proceeding was passed on August 27, 2019 by Member (Judicial) only. This was challenged by Ambience Director Raj Singh Gehlot before the NCLAT, contending that final order cannot be passed by Member (Judicial) alone as it was being heard by a bench of .