NCLT Greenlights Resolution Plan for Reliance Communications Infrastructure

The National Company Law Tribunal (NCLT) has granted approval to the resolution plan for Reliance Communications Infrastructure Limited (RCIL), a subsidiary of the insolvent Reliance Communications Limited. The endorsed plan was submitted by Reliance Projects and Property Management Services Limited, selected by the Committee of Creditors during their meeting on August 5, 2021. Subsequently, the resolution professional of RCIL filed

IL&FS Seeks NCLAT Intervention Over Consent Delays for Asset Transfer to InvIT

IL&FS, the board of directors of the company, has submitted an application to the National Company Law Appellate Tribunal (NCLAT) against several lenders, including IFCI, IIFCL, BoB, SBI, PNB, Indian Bank, and the government of Jharkhand, citing “undue delays” in obtaining consent for the transfer of road assets worth Rs 5,500 crore to an Infrastructure Investment Trust (InvIT) operated by