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Latest Articles in NCLT

Exchanges To Suspend Trading In DHFL Shares From Monday

The move, aimed at avoiding 'market complications', comes against the backdrop of the National Company Law Tribunal (NCLT) approving Piramal Group's resolution plan for the bankrupt-DHFL.

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Bhaskara Pantula Mohan To Take Charge As Acting President NCLT

He will succeed R Varadharajan whose tenure lasted for three days from June 6, 2021, to June 9, 2021.

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NCLT Approves Piramal Group's Offer For DHFL On Certain Conditions

NCLT also rejected former DHFL promoter Kapil Wadhawan's plea to get access to a copy of the resolution plan.

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DHFL Returns To Profit At Rs 97cr In Jan-Mar Qtr

The non-banking finance company posted a net loss of Rs 15,051.17 crore, which widened from Rs 13,455.81 crore in 2019-20

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IBC Needs Amendments, Not Postponement

The need of the hour is a series of quick amendments in the IBC so that stressed enterprises can take this route for an orderly resolution.

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Banks Must Come Out With Clear Cut Policies For Settlement Of Personal Guarantees

Bankers seem to have unlimited leverage over borrowers in the case of a default. Banks are lending with covenants that disbursement and draw-down will happen only if all covenants are complied with. Borrowers tend to yield to pressure as they have timelines to meet in the pursuit of financial closure and project completion

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RIL Entities Seek NCLT Nod For Shareholders' Meeting To Approve Future Group Deal

The Mumbai bench of NCLT had on Wednesday reserved its order over the application moved by the step-down firms of Reliance Industries Ltd (RIL).

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NCLT Asks DHFL Creditors To Consider Ex-Promoter Wadhawan's Settlement Offer

DHFL had gone bankrupt with more than Rs 90,000 crore in debt to various lenders including banks, mutual funds and individual investors who kept fixed deposits with the company.

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Srei Equipment Finance's Company Secy Resigns; Banks Lift Salary Cap On Senior-Level Executives

Over 200 employees have left the Kolkata-based Srei group since December last year in the wake of the pandemic induced economic pressure which created an asset-liability mismatch.

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Ahluwalia Contracts Settles Dispute With A2 Interiors; Moves To Withdraw Insolvency Proceedings

The IRP has been informed about the development and the company has requested him not to proceed to start the Corporate Insolvency Resolution Process (CIRP), Ahluwalia Contracts India Ltd said in a regulatory filing.

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BoM Aims To Resolve 20-25 Stressed MSME Loans Under Pre-Packaged Resolution Process

Under a pre-packaged process, main stakeholders such as creditors and shareholders come together to identify a prospective buyer and negotiate a resolution plan before approaching the National Company Law Tribunal (NCLT).

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NBCC, Suraksha Group Submit Revised Bids For Jaypee Infratech

Buyers have 57.66 per cent voting rights, fixed deposit holders 0.13 per cent and lenders 42.21 per cent. For a bid to be approved, 66 per cent votes are required.

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NBCC, Suraksha Group Submit Revised Bids To Acquire Jaypee Infratech Through Insolvency

The NBCC got approval from the National Company Law Tribunal (NCLT) to acquire Jaypee Infratech and complete around 20,000 pending flats over the next three and half years.

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NCLT Initiates Insolvency Proceedings Against OYO Arm; Co Files Appeal

The creditors of OYO Hotels and Homes Pvt Ltd are called upon to submit their claims with proofs on or before April 15, 2021, to the interim resolution professional

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Reliance Gets Shareholders, Creditors Nod For Hiving Off O2C Business Into Separate Unit

RIL said 99.99 per cent of shareholders, who participated in the meeting held through video conferencing, voted in favour of the resolution.

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