Page 24 - Nclt

IBC amendments may make resolution faster but raise inter-govt conflicts

Several government bodies have questioned the validity of resolution plans that reduces their claims

IL&FS case: NCLT allows MCA to prosecute Deloitte Haskins, BSR Associates

Other individuals allowed by the tribunal to be prosecuted include partners of audit firm Deloitte Udayan Sen, Kalpesh Mehta, and Sampath Ganesh, partner in BSR Associates

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

JetLite employees plan to move NCLT for inclusion of their dues in Jet case

Cash-starved Jet Airways, which shuttered operations on April 17, is undergoing insolvency proceedings after a SBI-led consortium of lenders moved the NCLT to recover their dues

Letter to BS: Secured creditors' payout rights must not be diluted

The concept of the financial market has been shaken due to the treatment of secured and unsecured creditors

IL&FS case: NCLT reserves order on accounts of Bawa's wife and daughter

Ex MD&CEO of IL&FS financial services Ramesh Bawa's wife and daughter had filed a plea to de-freeze their assets as they were not charged in the Serious Fraud Investigation Office led probe

Ex-IL&FS chief Bawa's wife, daughter move NCLT to defreeze bank accounts

Hearing both the sides, NCLT reserved its order without mentioning the date for next hearing

NCLT orders insolvency proceedings against C Sivasankaran's company

The loan was taken by Siva Ventures Ltd, which was merged with Siva Industries & Holdings Ltd with effect from April 1, 2011.

HDFC moves NCLT to keep mortgaged Jet Airways HQ out of bankruptcy process

The consortium of 26 bankers led by State Bank took the grounded Jet Airways to NCLT to recover their dues of over Rs 8,500 crore

SC stays high court ruling, clears deck for NCLT order on Bhushan Power

Punjab and Haryana HC had asked firm's CoC and NCLT to give firms' ex-directors a hearing though principal bench of NCLT had already reserved its order on a resolution plan by JSW Steel

NCLT okays first resolution plan in realty; Oasis to invest in Vishwakarma

Sanjay Chugh, head of Chennai branch of Anarock Property Consultants, said the NCLT's okaying the resolution plan would boost the confidence in the sector

Two-thirds of lenders have voted for Dhanuka Laboratories' resolution

The banks are expecting a haircut of 35-40 per cent

Banks opting for one-time settlement as NCLT waiting time goes up

According to resolution professionals, the delay in admission in some cases can stretch up to 11 months, especially if there is an intervening application while the hearing for admission is on

NCLT approves Bharti Infratel-Indus Towers merger; Telecom Dept nod awaited

The mega tower company born from the merger will have an estimated 1.63 lakh towers in 22 telecom service areas in the country

NCLT orders initiation of insolvency process against Chennai-based Marg Ltd

Marg defaulted in repaying an outstanding amount of Rs 71.69 crore due and payable on April 24, 2018

David vs Goliath: Battle lines drawn between Hotel Leelaventure and ITC

The brewing corporate battle between ITC Ltd and Hotel Leelaventure would put the spotlight on the rights and the responsibilities of a player that is both lender and equity holder

Banks face higher provisions on resolution delays to big-ticket NCLT cases

These cases were in advanced stages of resolution, and their settlement was expected by the end of the March quarter of 2018-19

Govt moves NCLT seeking immunity for directors of IL&FS subsidiaries

The government expects a resolution to the crisis over the next four-five months.

NCLT yet to fire fully with over half of admitted cases still unresolved

Of the 1,484 cases admitted at the NCLT (up to end-December 2018) under the corporate insolvency resolution process (CIRP), 898 are yet to be resolved

NCLT helps recover Rs 800 bn in 2018; kitty may cross Rs 1 trillion in 2019

Tasked with a key job of helping recover unpaid corporate loans, the NCLT has helped resolve insolvency and bankruptcy proceedings involving more than Rs 80,000 crore in the year passing-by and the kitty is expected to swell beyond Rs 1 lakh crore in 2019 with several big-ticket default cases pending. Plans are afoot to further strengthen the National Company Law Tribunal (NCLT) by increasing number of judges and benches and provide adequate infrastructure to fast-track the process, according to government officials. The new year will not only test the mettle of the Insolvency and Bankruptcy Code (IBC), but also of the NCLT and its appellate body NCLAT, as several high-profile cases need to be resolved -- Essar Steel (involving over Rs 80,000 crore alone) and Bhushan Power & Steel (about Rs 45,000 crore due to its lenders) are just a few, experts said. In 2018, over Rs 80,000 crore was recovered from various corporate debtors, which had defaulted payments, under the IBC through ...