National Company Law Tribunal (NCLT), Mumbai court restrained Future Group from calling shareholders meetings to seek approval for its proposed ₹24,713 crore asset sale to Reliance Industries Ltd, in a legal setback for the cash-strapped group. Following a hearing on Monday, the National Company Law Tribunal (NCLT) changed its earlier stance by stopping Future Group companies from holding the meetings.
State Bank of India, the lead banker in the consortium of lenders moving the National Company Law Appellate Tribunal (NCLAT) on behalf of the committee of creditors seeking fresh bids for the bankrupt Videocon Industries, the appellate tribunal on Monday sought a reply from the successful bidder Twin Star Technologies. The matter will now come up for hearing on September
The Supreme Court on September 6,2021 refused to stay the implementation of DHFL Resolution Plan on the plea filed by 63 moons tech and directed the NCLAT to hear the issue expeditiously. The Supreme Court on Monday refused to stay the implementation of DHFL Resolution Plan on the plea filed by 63 moons tech and directed the National Company Law
Punjab National Bank has challenged the rescue plan for Jet Airways (India) Ltd, posing a fresh hurdle to the Jalan-Kalrock consortium’s attempt to revive the grounded carrier. The state-run lender filed a petition before the National Company Law Appellate Tribunal (NCLAT) on Thursday, seeking to quash a rescue plan for Jet Airways approved by the National Company Law Tribunal (NCLT)
Jet Airways employees have rejected the Kalrock-Jalan consortium’s offer under the resolution plan and have challenged the plan in the National Company Law Appellate Tribunal. Kalrock-Jalan consortium proposed a sum of Rs 52 crore to settle admitted employee claims of Rs 1,265 crore. Bharatiya Kamgar Sena (BKS) and Jet Airways Cabin Crew Association, on August 18, filed an appeal against
Loan moratorium base- what transpired between the Reserve Bank and The IBC laws Reserve Bank of India has informed the Top Court that borrowers opting for resolution of COVID-related stressed loans shall not be required to submit any specific plans. The Resolution Framework does not require any resolution plan in any form to be submitted to the lending institutions at
