National Company Law Tribunal

Pawan Hans flags need for more due diligence in selling PSU assets

Blaming the company for taking the insolvency resolution “process for a ride”, the tribunal has sought action against its management under the Insolvency and Bankruptcy Code.

published on : 18th May 2022

ABG Shipyard's Rs 22,000 crore scam: Why IBC provision against frauds remain ineffective

It was probably the biggest loan fraud case recorded in India, and even before the CBI caught up with the promoters, information about their financial misadventures was already in public.

published on : 20th March 2022

Amazon calls Reliance takeover of Future stores as 'Fraud'

Amazon has been contesting the Rs 24,713 crore sale of Future Group's retail assets to Ambani's Reliance group, first announced in August 2020, and the case is currently before the Supreme Court.

published on : 15th March 2022

Jaypee Infratech insolvency: NCLT to hear Suraksha group resolution plan on March 7, 9 

In a regulatory filing, JIL said the listing of matter of resolution plan, along with related pleas, is listed for consideration before NCLT  Principal Bench, New Delhi, on March 7 and 9.

published on : 5th March 2022

ZEE Entertainment moves application in NCLT for dismissal of IndusInd Bank's insolvency plea 

IndusInd Bank had moved to National Company Law Tribunal claiming default of Rs 83.08 crore against the media & entertainment firm.

published on : 23rd February 2022

Transactions at the heart of ABG Shipyard’s Rs 23,000-crore loan fraud

Resolution professional Sundaresh Bhatt presented several documents in the NCLT of fraudulent or preferential transactions undertaken by the promoters of the company.

published on : 21st February 2022

Future Retail Ltd can seek HC nod on case in National Company Law Tribunal

Future and Amazon have been entangled in a tussle over the sale of Future’s retail assets to Mukesh Ambani-led Reliance Industries Ltd.

published on : 16th February 2022

SC permits FRL to approach Delhi HC with plea related to merger with Reliance Retail

The bench said that the high court should consider the plea of FRL on the issue without being influenced by the observations made in its order.

published on : 15th February 2022

NCLT sends Prajay Ltd dispute to International Arbitration and Mediation Centre

The NCLT bench recently referred its first batch of disputes between Sanghi brothers to IAMC.

published on : 14th January 2022

RBI files insolvency petition against Anil Ambani's Reliance Capital

The insolvency application has been filed under rules governing the insolvency resolution process and liquidation of Financial Service Providers (FSPs).

published on : 3rd December 2021

Cross-border insolvency rules not for financial cos

The government may in future also notify any other entities that should be excluded from the application of cross-border insolvency provisions.

published on : 25th November 2021

Justice Ramalingam Sudhakar appointed as NCLT president 

The appointment has been made for a period of five years or till he reaches the age of 67 years. He has been asked to assume the office within two weeks.

published on : 30th October 2021

RBI moves National Company Law Tribunal against Srei firms 

The RBI had superseded the board of directors of Srei Infrastructure Finance Ltd and Srei Equipment Finance Limited over governance issues and defaults.

published on : 9th October 2021

Hyderabad's National Company Law Tribunal pulled up in Viceroy Hotels case

A division bench suspended the orders passed by the NCLT on September 1, 2021. It may be recalled that CFM Asset Re-construction Pvt. Ltd. had submitted a bid for Rs 185 crore for the Viceroy Hotels.

published on : 19th September 2021

Government appoints 31 members at NCLT, Income Tax Appellate Tribunal

As many as 8 judicial and 10 technical members have been appointed to the NCLT while 13 judicial and 7 accountant members have been appointed to the ITAT.

published on : 12th September 2021
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