Debt-ridden Future Enterprises Ltd is now facing a second plea filed by an operational creditor of the company before National Company Law Tribunal to initiate insolvency proceedings. The petition is filed against Future Enterprises by Retail Detailz India, claiming default of Rs 4.02 crore before the Mumbai bench of the National Company Law Tribunal (NCLT). “The Company has received e-filing
SBI has filed an insolvency petition against the country’s largest sugar firm Bajaj Hindusthan Sugar Ltd.SBI as a financial creditor has filed the plea before the Allahabad bench of the National Company Law Tribunal (NCLT). The petition has been filed under Section 7 of Insolvency and Bankruptcy Code 2016. In the last fiscal year, the company had posted a consolidated
The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by a non- governmental organisation (NGO) against a decision by India’s anti-trust regulator that instant messaging platform WhatsApp had not been abusing its dominant position in the country. In a judgment dated August 2, the NCLAT said there was no reason for it to doubt the Competition Commission of
HDFC Ltd on 06/08/2022 said an application has been filed with the National Company Law Tribunal (NCLT) for merger of HDFC Investments Limited and HDFC Holdings Limited with HDFC Bank. This is part of the proposed merger of HDFC Bank , the country’s largest private sector bank by balance sheet, with its parent, mortgage lender Housing Development Finance Corporation Ltd.
DHL has filed a lawsuit against Royal Enfield’s manufacturer Eicher Motors at the National Company Law Tribunal (NCLT) over a payment dispute. DHL has claimed that in the financial year 2020-21, it had raised various sets of invoices for warehousing and third-party logistics services which it had provided to Eicher Motors. Invoices totalling around ₹10 crore are unpaid, DHL claimed.
The NCLT MUMBAI has directed the income tax department to return the tax deducted at source (TDS) from Precision Fasteners after the auto-component maker was referred for liquidation. The ruling is expected to set a precedent in several such cases where the revenue department is seeking to recover statutory dues from companies facing liquidation. The liquidator of the company had
The National Company Law Tribunal (NCLT), Chennai, was informed on Monday that the committee of creditors has voted in favour of a resolution bid submitted by Rajasthan-based ASG Hospital Private Limited for Vasan Health Care Pvt. Ltd. under the insolvency process. The resolution professional told the tribunal that the lenders had approved the plan in a meeting held on February
The National Company Law Appellate Tribunal (NCLAT) On June 10,2022 ordered starting of insolvency proceedings in only one of the housing projects of realty firm Supertech Ltd and not the entire company. A two-member NCLAT bench limited the Corporate Insolvency Resolution Process (CIRP) to only “Eco Village II Project” located at Greater Noida (West). On March 25, the Delhi bench
All India Jet Airways’ Officers and Staff Association has filed an appeal before the NCLAT against Jalan-Kalrock consortium’s resolution plan for the airline. In October 2020, the airline’s Committee of Creditors (CoC) approved the resolution plan submitted by the consortium of the UK’s Kalrock Capital and the UAE-based entrepreneur Murari Lal Jalan. The plan was later cleared by the Mumbai
Indiabulls Housing finance has approached the NCLT Mumbai on 13/05/2022 a plea to admit Mumbai-based realty development firm Radius Estate Projects under Corporate Insolvency Resolution Process (CIRP). The realty firm owes over Rs 798 crore to Indiabulls Housing Finance. Indiabulls Housing Finance had extended loans to a few subsidiaries of Radius Developers and managed to recover most of it through
