The Bengaluru bench of NCLT dismissed the petition and did not inform such dismissal by means of any pronouncement of order.
The Madras High Court on Tuesday asked the Centre to file a status report in three weeks on the steps taken to fill the vacant posts in the National Company Law Tribunal (NCLT), Chennai.
They added that the core principle of the Insolvency and Bankruptcy Code is to protect the interests of all stakeholders but the resolution plan does not protect workers’ interest.
Even as there are over 3,500 employees associated with Jet airways even after its grounding, the Jalan-Kalrock consortium plans to have only a few hundred workers when Jet restarts its services.
RCom currently has spectrum in the 850 MHz band in 14 out of 22 circles in the country and holds a pan-India licence.
A successful resolution of JIL will provide a big relief to over 20,000 homebuyers across various housing projects launched by the realty developer in Noida and Greater Noida.
The main allegation of Arunachalam, the eldest daughter of late MV Murugappan, is that there has been a history of gender discrimination in the Murugappa Group.
The Jalan-Kalrock consortium, which won the bidding for Jet, had requested that the slots should be allotted to them on a historicity basis.
Two years after Jet Airways went bankrupt, the NCLT gave its nod to the Jalan Kalrock Consortium's bid for the airline.
Unlike DHFL, which accepts public deposits, acquirer Piramal Capital & Housing Finance Limited (PCHFL) is a non-deposit taking company.
Videocon insolvency: Creditors to take 96 per cent haircut on dues; NCLT says bidder 'paying almost nothing'
Videocon Industries and its 12 group companies had a total admitted claims of Rs 64,838.63 crore.
As per the resolution plan approved by the NCLT, 74,500 fixed depositors are likely to get only 20-25% of their total claims of Rs 5,360 crore.
The insolvency application was moved on 26 February by an ex-employee – Dinesh Gupta – who was not paid salaries for 6 months, leave encashment and gratuity totaling Rs 10.42 lakh.
This offer is better than Piramal Group, which has emerged as the highest bidder with Rs 35,500 crore for the whole loan portfolio of DHFL.
This out-of-court deal may have triggered quite an interest in varied circles for assorted reasons, but the creditors have played by the book in clearing the deal.