The National Company Law Tribunal (NCLT) has released a Circular on 4th August 2023, highlighting the pending petitions and applications within the E-Filing system, which were submitted prior to 30th June 2023. These cases lack subsequent actions or follow-ups. In this regard, the NCLT urges concerned parties and their legal representatives to proactively engage in follow-up actions and prosecution of
The National Company Law Tribunal (NCLT) based in New Delhi, comprising Shri Bachu Venkat Balaram Das (Judicial Member) and Shri Atul Chaturvedi (Technical Member), has granted approval for the resolution plan presented by M/s. Ace Infracity Developers Pvt. Ltd. concerning Three C Homes Pvt. Ltd. This resolution plan, valued at approximately Rs. 140 crores, has been accepted by the NCLT
The National Company Law Appellate Tribunal (NCLAT) has dismissed the plea of Jindal Stainless Ltd, one of the bidders for debt-ridden Mittal Corp, challenging the issuance of a fresh Request for Resolution Plan (RFRP) by the lenders. A two-member NCLAT bench observed that the lenders of Mittal Corp were empowered to issue a fresh RFRP when none of the resolution
The National Company Law Tribunal (NCLT) rejected JSW Energy’s plea to withdraw its resolution plan for the takeover of debt-laden Ind-Barath Energy (Utkal) on grounds of deterioration of assets, saying it doesn’t have powers to terminate a plan approved by the Committee of Creditors (CoC) with big majority. At the same time, the tribunal took note of JSW Energy’s concerns
