The National Company Law Tribunal (NCLT) in Hyderabad, presided over by Justice Telaprolu Rajani (Judicial Member) and Shri Charan Singh (Technical Member), has granted its approval to the Resolution Plan submitted by a consortium led by B. Subba Reddy and C. Venkateswara Reddy for Indu Projects Ltd. This development stems from the proceedings of the petition filed by Bank of
The Kolkata Bench of the National Company Law Tribunal (NCLT) on April 29 admitted a petition to start an insolvency process against McNally Bharat Engineering Company Limited. The petition for insolvency had been moved by Bank of India, the lead bank. Ankur Singhi, advocate for Bank of India, said, the NCLT admitted the Bank of India petition today for commencement
Shareholders of Future Group companies voted over the deal to sell their assets to Reliance Retail. The final result of the voting will be declared after the two meetings of secured and unsecured creditors. The shareholders’ meeting came after an order by the National Company Law Tribunal(NCLT) on February 28 after a Supreme Court order allowed Future Group companies to
Bank of India has moved the National Company Law Tribunal (NCLT), filing a petition to initiateinsolvency proceedings against debt-ridden Future Retail Ltd. “Bank of India (BoI) has served an advance intimation of filing an application under Section 7 of theInsolvency and Bankruptcy Code, 2016 against the company for default on non-payment of moniesdue in terms of the Framework Agreement entered
