Page 13 - Nclt

Japan's NTT to invest $2 bn in India to set up data centres over next 4 yrs

It will be building new campuses in neighbouring Navi Mumbai, Chennai and Noida, and also augmenting capacities at its existing facilities in the financial capital and Bengaluru

DHFL used multiple software to hide fraudulent deals: forensic report

FoxPro used to show disbursements, receipt of funds from over 260,000 fictitious borrowers

Tribunals on ventilators

Their predicament has worsened after the surprise lockdown

NCLAT sets aside NCLT order rejecting insolvency plea against Coastal Oil

The NCLAT''s direction came over a petition filed by Bank of India and Central Bank of India, challenging the NCLT order

NCLT to send Samay Electronics case to 3rd member after split verdict

The two-member Ahmedabad bench of the National Company Law Tribunal (NCLT) had delivered the split verdict on February 26, 2020

Govt decriminalises Companies Act to promote greater ease of doing business

The bill, passed on Saturday in the Lok Sabha, comes at a time when companies are reeling under stress due the coronavirus (Covid-19) pandemic

All you need to know about the Companies (Amendment) Bill 2020

Listen to the podcast to know about the changes introduced in the Companies Act

SC rejects SBI plea to vacate stay on invoking Anil Ambani's personal guarantees

While the personal guarantee matter is being heard by the SC, the fate of dues worth Rs 45,000 crore, including to the Chinese banks, will be decided by the NCLT where the matter is still pending

Anil Agarwal's Vedanta sole bidder for Videocon's 25% in Ravva oil block

Videocon is undergoing insolvency proceedings at the NCLT with a separate bidding process being undertaken for the Ravva block

JSW Steel may bid for Gontermann Peipers as firm gets admitted to NCLT

The cast and forged rolls maker was admitted to NCLT last December after an operational creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code

NCLAT rejects PNB's plea on Mittal Corp, asks NCLT Mumbai to decide afresh

The National Company Law Appellate Tribunal (NCLAT) has set aside an order passed by NCLT rejecting a plea filed by Punjab National Bank to initiate insolvency proceedings against Mittal Corp and directed it to decide afresh "expeditiously". A three-member bench of the appellate tribunal observed that the Mumbai bench of the National Company Law Tribunal (NCLT) had dismissed PNB's plea on the basis of a circular issued by the Reserve Bank of India (RBI) on February 12, 2018, which was not applicable in this matter. "We set aside the Impugned Order dated December 20, 2019 and remit the case to the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, with a direction to decide the Admission of the Application on merits as expeditiously as practicable," the NCLAT order said. The appellate tribunal said there was no evidence suggesting that PNB had moved NCLT to initiate insolvency proceedings based on the said circular, under which it was not eligible to file as the ..

NCLAT upholds NCLT order to initiate insolvency against Meenakshi Energy

A three-member bench has dismissed the plea filed by its director and its shareholder India Power Corporation Ltd observing that the company had committed default

NCLAT rejects plea challenging NCLT's resolution plan of Uttam Value Steel

Uttam Value Steels has an admitted debt of Rs 3,003 crore

IL&FS board faces challenges as resolution takes a Covid-19 knock

With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges

FinMin directs govt-owned banks to invoke personal guarantees of defaulters

SBI takes lead in preparing list of all defaulters, including large corporations, whose firms are under bankruptcy proceedings

Akhil Gupta's family firm bids for debt-laden Videocon Industries

Gupta, who worked for Bharti Airtel for 18 years, made the bid for Videocon via Avanti Investments, run by his son, Anubhav Gupta

No corporate insolvency proceedings once debt converted into capital: NCLAT

The appellate tribunal also said that any investment cannot be "financial debt"

NCLT approves sale of IL&FS' education assets to Falafal Technology

IIDMCC is the wholly-owned subsidiary of ITNL International Pte Limited (IIPL), which in turn is a wholly-owned subsidiary of IL&FS Transportation Networks Ltd

Gains ahead for Jio, Bharti as telco market heads towards a duopoly

Experts see the telecom sector heading towards duopoly

SC makes CEOs liable if telecom companies fail to pay AGR dues

CEO asked to furnish personal guarantee within four weeks; order alarms professional managers