Page 4 - Nclt

Jalan-Kalrock consortium approaches NCLT to fast-track Jet resolution

The consortium said it plans to restart domestic operations at the earliest in 2022 as a full-service carrier

NCLT, NCLAT can encourage, not direct settlements under IBC: SC

The bench said that settlements have to be encouraged because the ultimate purpose of the IBC is to facilitate the continuance and rehabilitation of a corporate debtor

RBI retains three-member Advisory Committee of Reliance Capital

A day after NCLT admitted RBI's petition for insolvency resolution of Reliance Capital, the central bank on Tuesday said it has retained the three-member Advisory Committee to assist the newly appointed administrator of the crisis-ridden NBFC. The Mumbai bench of the National Company Law Tribunal (NCLT) on Monday admitted the Reserve Bank's plea to initiate insolvency resolution proceedings against Reliance Capital. Last month, the RBI had superseded Reliance Capital's board, citing defaults and governance issues. Upon admission of the petition, the RBI said it has decided that "the three-member Committee shall continue as the Advisory Committee" under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019. The Advisory Committee shall advise administrator Nageswara Rao Y in the operations of Reliance Capital Ltd during the corporate insolvency resolution process. The members of t

Reliance Capital says corporate insolvency resolution started against firm

Reliance Capital on Tuesday said the National Company Law Tribunal (NCLT) has admitted the case of the company for the corporate insolvency procedure

NCLT allows RBI's plea for bankruptcy proceedings against Reliance Capital

The bankruptcy tribunal has also confirmed the appointment of Y Nageswar Rao as the administrator of the company

Centre says taking all steps to strengthen National Company Law Tribunal

19 new members have been appointed at the tribunal recently

Gateway Distriparks' merger scheme gets NCLT nod, shares end flat

In Sept 2020, the firm announced a composite scheme of reverse merger to derive operational synergies and cost efficiencies and improve cash flow fungibility between the company and its arms

NCLT orders insolvency proceedings against MGF Developments

A two-member Delhi based bench of NCLT passed the order

Reliance Infra plans series of measures to prune group debt by March

As part of the comeback plan, Reliance Infrastructure received Rs 550 crore fund infusion from the Anil Ambani family

YES EGM plea doesn't meet statutory requirement: Dish TV to NCLT

Dish TV has also claimed that it "is unaware of the details of the investigation" and appears from the notice that it relates to an FIR registered in the year 2020

A board for the shareholders

Invesco moved the National Company Law Tribunal seeking an order for the EGM

Future moves SC to seek stay on Singapore arbitration panel's decision

NCLT stays Future group shareholders' meet

Future group cos defer shareholder, creditors meeting for RIL deal approval

Future group firms have deferred meetings of their respective shareholders on the direction of the NCLT

NCLT approves GAIL buying bankrupt IL&FS' 26% stake in OTPC

The National Company Law Tribunal has approved state-owned gas utility GAIL (India) Ltd's acquisition of bankrupt Infrastructure Leasing and Financial Services' 26 per cent stake in ONGC Tripura Power Company (OTPC), GAIL said on Friday. OTPC is a special purpose vehicle between Oil and Natural Gas Corporation (ONGC), IL&FS Group and Government of Tripura (GoT) for setting up of a 726.6 MW combined cycle gas turbine (CCGT) thermal power plant at Palatana, Tripura. ONGC holds 50 per cent interest in the company in the project that supplies electricity to the northeastern states. Tripura government holds 0.5 per cent while India Infrastructure Fund II holds the balance 23.5 per cent stake. "NCLT has granted approval for the acquisition of 26 per cent equity stake of Infrastructure Leasing & Financial Services (IL&FS) Group by GAIL (India) Ltd in OTPC," GAIL said in a stock exchange filing. The stake, it said, is being acquired from IL&FS Group companies namely IL&FS .

Top headlines: Govt eyes $30 bn from PLI, NCLT readies to fast-track cases

Business Standard brings you the top headlines at this hour

After a much-needed capacity boost, NCLT readies to fast-track cases

NCLT got 18 fresh recruits, a new president and a chairman, during the last month, after more than one and a half years

Adani Power gets NCLT nod to acquire Essar's 1,200 MW Mahan project in MP

Adani Power said that it has got NCLT's approval to acquire Essar Power's 1,200 MW thermal power project in Mahan, Madhya Pradesh.

File response by November 15, NCLT tells Dish TV

Yes Bank owns 26 per cent stake in Dish TV while the promoters Jawahar Goel and family own 6 per cent stake.

NCLAT asks NCLT to give hearing opportunity to two Videocon execs

NCLAT has directed NCLT to go for "fresh determination" and pass a new order after providing opportunity of hearing to two employees of Videocon, whose assets and bank accounts were frozen.

Bombay HC asks ZEEL board to call the EGM as requisitioned by Invesco

During the proceedings, Justice Patel said denying the right to call an EGM would set a "ferocious" precedent. ZEEL said it would inform the court on Friday about the EGM date