"national-company-law-tribunal"

In an unusual development, Justice Sharad Kumar Sharma, a judicial member of the National Company Law Appellate Tribunal (NCLAT), has recused himself from an insolvency case citing an alleged approach by “one of the most revered members of the higher judiciary” seeking a favourable order.

As per the deal, the merger was to be completed before December 21, 2023, including regulatory and other approvals with grace period of one month to complete the transaction.

The lessors' contention is that Go First has no right to use their aircraft as the leases concerning them have been terminated

Go First pleaded to the National Company Law Tribunal for an interim moratorium after facing an acute cash crunch

Hyderabad: Telangana Government’s relentless legal fight against the Emaar Hills Township Private Limited (EHTPL) has borne fruit with National Company Law Tribunal (NCLT) directing Emaar Properties (Dubai) and Emaar Holdings (Mauritius) not to deal with EHTPL assets and compensate the State Government for the losses incurred. The NCLT also permitted a petition filed by Telangana […]

Hyderabad: A two-judge panel of the Telangana High Court comprising Chief Justice Ujjal Bhuyan and Justice S Nanda on Tuesday disposed of a writ petition questioning the jurisdiction of the National Company Law Tribunal (NCLT) in adjudicating a matter pertaining to recovery of a loan. The panel was dealing with a writ petition filed by […]

Hyderabad: The Enforcement Directorate (ED) has provisionally attached 15 immovable properties worth more than Rs.13.51 crore in Servomax India Private Limited (SIPL) bank fraud case. The attached properties are in the name of relatives of Directors P Chandrashekhar Reddy and A V Rao and their benamidars. It initiated money laundering investigation on the basis of […]

By Seela Subba Rao The government of India enacted the Insolvency and Bankruptcy Code (IBC) Act in 2016 to address the resolution of stressed assets. The most important requirement was a speedy recovery process. The IBC Act, 2016, consolidated, revised and re-established the insolvency-related laws under one umbrella. It superseded all other laws and deals […]

Hyderabad: The National Company Law Tribunal (NCLT), Hyderabad Bench, has referred the 13-year-old corporate dispute among the brothers of the Hyderabad-based Sanghi group to the newly established International Arbitration and Mediation Centre (IAMC). This is the first and large corporate dispute to be referred to the new dispute resolution centre. The long-drawn dispute that was […]

There is a valid criticism that the Centre has been weakening tribunals which play a key role in fast-tracking dispute resolution

The scorecard in terms of recovery/resolution value of many of the big accounts is quite underwhelming

The employees had approached National Company Law Tribunal (NCLT) but the assurance on getting the salaries paid was not fulfilled

Says it will restart operations in four to six months after receiving approval from the NCLT for its resolution plan

Administrator of the Company received an initial report indicating that there are certain transactions which are undervalued, fraudulent and preferential in nature, falling under the aforesaid sections of the Code

Under the approved resolution plan approved by lenders, RCom and its subsidiary RTIL will go to UVARCL, while the tower unit Reliance Infratel will go to Jio for a total consideration of Rs 20,000-23,000 crore to be paid over a period of seven years