Page 15 - Nclat

If not quashed, Essar Steel ruling can unravel India's insolvency reform

The ruling can make credit costs for India Inc. surge, shares of state-run banks swoon and foreign investors flee

NCLAT seeks details of settlement with McDonald's from Vikram Bakshi

Appellate tribunal also asks Bakshi to indicate how much he can pay Hudco, which is seeking Rs 190 crore

NCLAT rejects HDFC's plea seeking insolvency against RHC Holding

The appellate tribunal said it found "no merits" in HDFC's petition and said that non-bank financial lenders come under the purview of the Reserve Bank of India

Essar Steel lenders to appeal against NCLAT order on creditors: SBI chief

SBI chairman Rajnish Kumar, whose bank has lent more than Rs 15,000 crore to Essar Steel, said the NCLAT verdict will discourage banks from taking stressed asset cases to the insolvency process

Ruchi Soya directed to study if NCLAT's Essar order can impact their case

The tribunal observed that the NCLAT order has changed the entire outcome for all stakeholders and is like a formula with clear-cut directions on the distribution of the proceeds should be carried out

NCLT Mumbai asked to pass order on Videocon Cos insolvency plea in 3 weeks

The appellate tribunal said that it appears that even on April 16, 2019, when the matter was listed, order had not been pronounced

Pepsi approaches NCLAT for release of its machinery from Oceanic Tropical

Company had supplied machine for producing juice, Mirinda cups to Oceanic Tropical, which is undergoing liquidation

NCLAT reserves order on admission of contempt plea against Anil Ambani

HSBC Daisy had moved the appellate tribunal over alleged default of payment of Rs 230 crore by Reliance Infratel

NCLAT admits online vendors' petition against CCI clean chit to Flipkart

Passing an order on November 6, 2018, the CCI had held that the business practices of Flipkart and Amazon are not in violation of competition norms

NCLAT admits HUDCO's intervention plea claiming Rs 195 cr dues from Bakshi

Solicitor General Tushar Mehta, representing HUDCO informed the appellate tribunal that a matter related to the dues of Rs 195 crore is going on at Delhi-based Debt Recovery Tribunal

NCLAT directs IL&FS to submit information about four group entities

The National Company Law Appellate Tribunal Monday directed debt-ridden IL&FS to submit information over investment made by pension and provident funds in its four group firms, and also sought details of financial liabilities of those entities. These four 'amber' companies are -- Hazribagh Ranchi Expressway, Jharkhand Road Project Implementation Company, Moradabad Bareily Expressway and West Gujarat Expressway. The NCLAT also made clear that it has not stopped IL&FS and its group entities from going for resolution process. During the proceedings of the appellate tribunal, a two-member bench headed by Justice S J Mukhopadhaya observed that the money invested by pension fund, and provident fund in the IL&FS companies should be released first. "Provident fund and pension fund have nothing to do with this, this is not your money, it is related to the employees. "We want that it should be released first," the bench said. The NCLAT had directed 4 out of 13 amber entities to ...

Cabinet clears creation of more posts for judicial, tech members in NCLAT

"The posts will be created in Level 17 (Rs 2,25,000 - fixed) plus allowances as admissible. The total financial implication will be Rs 2,27,82,096 per annum," according to an official release

NCLAT restricts handing over of Bafna Pharma to its promoter

If the possession has already been handed over, promoter will not alienate, transfer or create third-party encumbrance of properties and must ensure firm remains a going concern

Fire at CGO Complex: NCLAT suspends hearing till further notice

The appellate tribunal was scheduled to hear some important matters listed before it, including matters of Jyoti structures, Dishnet wireless, Monnet Ispat and Liberty House

NCLAT asks Monnet Power Resolution Professional to consider BHEL's claims

Appellate tribunal says RP must consider BHEL's claims if company is able to verify the same

NCLAT asks govt to submit list of firms with their financial categorisation

The National Company Law Appellate Tribunal (NCLAT) has asked the government to provide a list of IL&FS group companies along with their categorisation based on their respective financial positions to pay their debt. The government had Monday submitted the debt resolution plan for crisis-hit IL&FS to the NCLAT and also suggested the name of retired Supreme Court judge Justice D K Jain to supervise the entire process. The entire resolution process would be based on the principles enunciated in the Insolvency and Bankruptcy Code. Under the plan, the government has categorised IL&FS group companies into green, amber and red based on their respective financial positions. "The Union of India will also submit lists of companies who are in the group of 'green', second list of the companies who are in the group of 'amber' and third list of Companies who are in the group of 'red' having registered office in India by the next date," said NCLAT. A two member bench of NCLAT headed by .

Will take action against firms such as Liberty House: NCLAT

NCLAT observations came during insolvency hearing of ARGL, a subsidiary of Amtek Group

NCLAT defers hearing on a contempt petition against Anil Ambani

The plea has been moved by HSBC Daisy Investments (Mauritius) and other minority shareholders over an alleged default in payment of Rs 230 crore

NCLAT to hear contempt plea against Anil Ambani over payment default

HSBC Daisy moved the appellate tribunal over alleged default of payment of Rs 230 crore by Reliance Infratel.

No need to hear out 3rd party during insolvency admission, NCLAT tells NCLT

In its order, the NCLAT also asked NCLT Kolkata to admit insolvency application moved against Odisha Slurry Pipeline Infrastructure if there is a clear case of debt owed to the bank