- Tag results for NCLT
A bench headed by Chief Justice Dipak Misra said the limitation period of 180 days to conclude the insolvency proceedings will commence from today.
In several cases of such companies, petitions for restoration of registration are required to be filed before the NCLT so as to be able to pursue recovery of demands raised in their cases.
Gujarat NRE Coke had failed to get any suitor for resolution under the Insolvency and Bankruptcy Code (IBC) as an ongoing concern as no plan was accepted by its secured creditors.
Tata Sons-Cyrus Mistry feud: NCLT says chairman doesn't enjoy a free hand; board not at his beck and call
After a four-month long hearing, a special bench of the NCLT, Mumbai had on July 9 dismissed all the petitions filed by Mistry and his family-run firms alleging oppression of minority shareholders.
The shares of Tata groups of companies ended in a positive note after National Company Law Tribunal dismissed Cyrus Mistry's pleas against Tata Sons.
The NCLT, a quasi-judicial body for corporate grievances, said it did not find any merit in allegations of mismanagement in Tata group companies.
Last week, just ahead of the NCLT verdict, Mistry fired a fresh salvo at Tata Sons, questioning the rationale behind decisions like the sale of its telecom arm to Airtel.
The National Company Law Tribunal has ruled that the Netmeds Marketplace is exempt from paying Rs 28.09 lakh to mobile advertising company AdiQuity Technologies for the downloads.
The company has acquired management control and as per the provision of the resolution plan and new board of directors has been put in the place.
The company said its move will enable integration of both the security and commodity broking into a single entity thereby facilitating ease of doing business.
The NCLT bench order said the UltraTech offer was Rs 1021.70 crore higher than of RPPL offer.
The principal bench of NCLT has directed the Videocon Industries to file an affidavit having details of its group companies and courts where insolvency matters are pending.
Counsel appearing for RP contended before the National Company Law Tribunal (NCLT) that Section 29 (A) of the IBC Code does not apply on Tata Steel.
ArcelorMittal has challenged the committee of creditors' last week decision to reject its bid for Essar Steel on technical grounds at the Ahmedabad bench of the NCLT.
Tata Steel on Friday said it has emerged as the successful bidder to take over stressed assets of the debt-ridden Bhushan Steel Ltd.