Page 6 - Nclt
NCLT directs Zee board to consider Invesco's requisition for EGM
It's not a discretionary power of the Zee Entertainment board to call or not call for EGM, says NCLT
 "NCLT directs Zee board to consider Invesco's requisition for EGM")
Top headlines: NCLT gives Zee Oct 3 deadline; Ola Electric raises $200 mn
Business Standard brings you the top stories from today
 "Top headlines: NCLT gives Zee Oct 3 deadline; Ola Electric raises $200 mn")
Delhi Gymkhana Club: NCLT may try to dispose of matter within 4 months
The NCLAT had in February directed suspension of the club's general committee and asked the government to appoint an administrator
 "Delhi Gymkhana Club: NCLT may try to dispose of matter within 4 months")
Invesco moves NCLT against Zee, petition to be heard on Thursday
Move premature; in process of taking required steps: Zee
 "Invesco moves NCLT against Zee, petition to be heard on Thursday")
NCLT allows Future Group to hold EGMs to sell businesses to Reliance
Will seek shareholder approval to sell assets to Reliance Retail
 "NCLT allows Future Group to hold EGMs to sell businesses to Reliance")
NCLT to hear plea on approval of Suraksha's bid for Jaypee Infra on Oct 26
NCLT on Tuesday directed to list the pleas related to the Suraksha group's bid to acquire debt-ridden realty firm Jaypee Infratech on October 26 for hearing
 "NCLT to hear plea on approval of Suraksha's bid for Jaypee Infra on Oct 26")
Jet Airways staff approaches labour dept over non-payment of gratuity
The NCLT order, which is public now, provides for a very microscopic settlement for employees, which is pegged at Rs 52 crorE
 "Jet Airways staff approaches labour dept over non-payment of gratuity")
McLeod's return from brink of IBC signals a brief respite for tea industry
In an industry in which more than half the production is accounted for by the small growers, analysts believe that big players may help bring production and pricing discipline
 "McLeod's return from brink of IBC signals a brief respite for tea industry")
Sivasankaran group firm offers to settle dues with IL&FS Financial Services
Siva Shelters says of the dues worth Rs 76 cr claimed by IFIN, it will pay Rs 50 cr along with normal interest at 14% plus penal interest until all dues are fully cleared
 "Sivasankaran group firm offers to settle dues with IL&FS Financial Services")
Supreme court criticises Centre for 'cherry picking' names for Tribunals
The Supreme court on Wednesday pulled up the Centre over the recent appointments in some tribunals, saying it was "cherry-picking" candidates from the recommended list and that there was "no consistency" in the selection process. "We are very much unhappy with the way the issues are going on and how the decisions are taken, the court observed, calling the situation "unfortunate". Observing that making appointments in tribunals is the only solution, the top court asked the Centre to do so in two weeks as the quasi-judicial bodies face a severe crunch of presiding officers as well as judicial and technical members that crippled their functioning. The Centre was also asked to apprise the court of the reasons if persons from the recommended list are not selected. A three-judge special bench headed by Chief Justice N V Ramana took note of the assurance of Attorney General K K Venugopal that the Centre would make appointments in two weeks to the tribunals from the list of persons ...
Jet Airways to resume domestic operations in first quarter of 2022
The Jalan Kalrock Consortium, the successful resolution applicant of the carrier, announced on Monday
 "Jet Airways to resume domestic operations in first quarter of 2022")
NCLAT dismisses Devas Multimedia's plea against its winding up
NCLAT on Wednesday dismissed a petition filed by Devas Multimedia challenging an order of the NCLT to wind up the company
 "NCLAT dismisses Devas Multimedia's plea against its winding up")
McLeod Russel steps out of insolvency after settlement with creditor
Sources say offer has been made to P P Gupta of Techno Electric for a minority stake in the firm, who could chip in to help McLeod promoters bring in equity as per debt resolution
 "McLeod Russel steps out of insolvency after settlement with creditor")
Top headlines: Car sales skid, Prosus joins top global investors, and more
From vehicle sales taking a beating in August to Jet Airways' plans to resume service by early 2022, Business Standard brings you the top headlines at this hour
 "Top headlines: Car sales skid, Prosus joins top global investors, and more")
Why controlling CoC conduct could be a challenging task for IBBI
Experts say such a code could lead to litigation, which may affect the decision-making ability of the committee
 "Why controlling CoC conduct could be a challenging task for IBBI")
Vedanta's acquisition of Videocon assets may get derailed after NCLT order
Lenders in a bind as NCLT orders attachment of company and promoter assets
 "Vedanta's acquisition of Videocon assets may get derailed after NCLT order")
NCLT Mumbai orders freeze of Videocon group promoters' assets
It has directed the erstwhile promoters of Videocon group to disclose in an affidavit their moveable and immovable properties/assets
 "NCLT Mumbai orders freeze of Videocon group promoters' assets")
Pre-pack resolution route needs incentives
Given that most MSMEs are informally organised, they may be averse to an insolvency resolution mechanism which displaces their founders
 "Pre-pack resolution route needs incentives")
Siva tests IBC: NCLAT's choice between judicial wisdom & commercial wisdom
Siva Industries, a machinery part-maker, was admitted to the bankruptcy court on July 5, 2019
 "Siva tests IBC: NCLAT's choice between judicial wisdom & commercial wisdom")
McLeod promoter to move NCLAT challenging NCLT order on insolvency
The appeal is listed for hearing on August 25
 "McLeod promoter to move NCLAT challenging NCLT order on insolvency")
