Page 11 - Nclt

NCLT raps Amazon in Future case: Don't be a 'perpetual objector'

Says it has no locus standi in Future's plea to hold shareholder meeting; reserves order

Kalrock-Jalan consortium confident of getting NCLT nod for Jet revival plan

The consortium wants to restart Jet Airways as a full service airline with bases in Mumbai, Delhi and Bengaluru

Union Budget 2021: S&P gives a thumbs up, Nomura calls it a positive

"Likewise, we believe that the resolution of troubled assets could be faster with weak assets consolidated in a single entity, rather than multiple banks negotiating resolution terms," S&P added

Senior TVS family members to file composite amalgamation scheme with NCLT

Group has over 50 firms managed by various branches of the TVS family tree. With time, the members felt ownership of shares in various enterprises should be in sync with their management

NCLT begins insolvency proceedings against The Pioneer group firm

Interim resolution professional appointed; public notice issued

Jet Airways engineers' body files NCLT application for quick resolution

The Jet Airways Aircraft Maintenance and Engineers Workers Association (JAMEWA) has filed an application with the NCLT to expedite the insolvency process of the airlines

Sebi nod for Future, Reliance deal subject to court proceedings: Amazon

Market regulator had given a go-ahead to Future Group's scheme of arrangement and sale of assets to Reliance for the $3.4 billion deal

NCLT agrees to hear plea alleging mismanagement in real estate firm Omaxe

The National Company Law Tribunal (NCLT) has agreed to hear a petition filed against Omaxe Ltd alleging oppression and mismanagement in the affairs of the Delhi-based real estate firm. Terming the matter as "exceptional" and having "compelling circumstances" against the realty firm, a two-member Chandigarh-based NCLT bench has granted the waiver in the filing criteria under Section 244 of the Companies Act, over the plea filed by the Omaxe former joint managing director Sunil Goel and his wife. The tribunal observed that the applicants including Sunil Goel are the shareholders, promoters and were directors of Omaxe Ltd and also have considerable shareholding and interest in its holding company Guild Builders. Moreover, none of the members of Omaxe is eligible to file an application under Section 241 of the Companies Act, 2013 against the company over the allegations of oppression against minority shareholders. While granting the waiver, NCLT observed that individually, the petition

NCLT issues notice to DGCA, MoCA to clear stance on Jet Airways' slots

Jet was grounded on April 17 due to liquidity crisis and subsequently went into administration in June 2019

From powers of NCLT and HCs to DRAT rules, here're key court orders

Several courts have been found to omit the 'future prospects' in income of youth who die in road accidents while calculating compensation

DHFL case: 63 Moons moves NCLT seeking to protect bondholders

63 Moons Technologies, formerly Financial Technologies, on Thursday said it has moved the National Company Law Tribunal (NCLT) seeking to ensure that recovery from DHFL benefit all creditors

CBI books IVRCL in Rs 4,837 cr-bank fraud after extensive searches

The Hyderabad-based firm is under liquidation following an NCLT order in 2019, brought on by mounting debts and defaults

Lakshmi Mittal's journey a year after he came home to buy Essar Steel

It has been a mixed bag for the firm he renamed AMNS India, and while the pain of the downturn and the pandemic has subsided, other issues remain

Tata Sons must seek NCLT nod for conversion to pvt firm: Mistry to SC

Mistry counsel Sundaram says such a move is necessary under provisions of the new Companies Act of 2013

NCLT Mumbai approves RIL arm's resolution plan for Reliance Infratel

The National Company Law Tribunal (NCLT) has approved a resolution plan for Reliance Infratel submitted by a group entity of Reliance Industries, according to a regulatory filing. "... the resolution plan submitted by Infrastructure Projects - a division of Reliance Projects & Property Management Services Limited, a wholly owned subsidiary of Reliance Industries Limited, for the resolution of Reliance Infratel Limited, under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code 2016, has been approved by the Hon'ble National Company Law Tribunal... Mumbai bench vide its Order dated December 3, 2020," RIL said in a late evening filing on Friday. Reliance Communications' telecom infrastructure arm Reliance Infratel has around 43,000 towers and 1,72,000 route kilometres of fiber. Lenders are expected to get around Rs 4,400 crore from the resolution process, sources had earlier said. The resolution plan was approved by 100 per cent votes of the committee of

NCLT okays resolution plan for Reliance Infratel; may entail sale of assets

Decks cleared for sale of tower, fibre assets to Reliance Digital

Reliance Infratel resolution gets NCLT nod; lenders may get Rs 4,400 cr

The resolution plan was approved by 100 per cent votes of the committee of creditors.

IL&FS gets approval to sell road asset Jorabat Shillong Expressway

Infrastructure Leasing and Financial Services on Tuesday said it has received the approval of Justice (retd) D K Jain - who is overseeing the debt-laden group's resolution process - for sale of Jorabat Shillong Expressway to Sekura Roads Ltd. Sekura Roads is backed by Edelweiss Infrastructure Yield Plus, an infrastructure category-I alternative investment fund. JSEL is a wholly-owned subsidiary of IL&FS Transport Network (ITNL). It has been classified as an amber company. Amber category is for those companies that would not be able to meet their obligations but can meet only operational payment obligations to senior secured financial creditors. IL&FS in a statement said Sekura had bid Rs 916 crore for the 100 per cent stake in Jorabat Shillong Expressway (JSEL). "SRL had emerged as the highest bidder for JSEL and the same was ratified by the committee of creditors (CoC) of ITNL and JSEL," it said. The group will now seek approval from the National Company Law Tribunal (NCLT) ..

Very little room for more rate cuts: Amandeep Chopra, UTI Asset Management

He says, the rate cycle seems to have bottomed out but RBI may not change its accommodative stance anytime soon

Company, too, can file consumer complaint

According to the National Commission, a company is also a consumer in case of goods and services purchased for self-use and not for profit generation