NATIONAL COMPANY LAW TRIBUNAL
NCLAT order hard to implement: Experts on reinstatement of Cyrus Mistry
While the tribunal’s order gives little option to the boards concerned but to reinstate Mistry, it is not an automatic reinstatement, said Suhas Tuljapurkar, managing partner of Legasis Partners. There is no provision in the Companies Act for immediate reinstatement of a former board member, said another legal expert.
RoC may soon classify Tata Sons as ‘public company'
Tata Sons might soon be classified as a public company, changing the ground rules for the...
Expedite decision on fresh EOIs: NCLT to Jet Airways lenders
The RP Ashish Chawcharia requested three weeks time to float the EoI. The RP on ...
Tata Group stocks tank after NCLAT order restoring Cyrus Mistry
Tata Communications fell nearly 7 per cent from day’s high of Rs 423.05.
Procedures not followed in Cyrus Mistry's ouster: NCLAT
Tata Sons did not follow the required procedures for the conversion, NCLAT said, adding that the process laid out under Section 14 of the Companies Act, which includes getting approval from the tribunal for conversion, was not followed.
NBCC to acquire Jaypee Infra, work on stalled projects to start in 6 months
The actual work on the project is expected to commence by the first week of May.
NCLAT expunges remarks against Cyrus Mistry in NCLT order
A two-member bench of the National Company Law Appellate Tribunal headed by Chairperson S J Mukhopadhaya said that such observations against Mistry and other respondents were "undesirable and based on extraneously sourced material not on record".
NCLAT judgement over Cyrus Mistry's removal as Tata Group Chairman on Wednesday
A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya will pronounce its judgement over the petitions.
DGCA to NCLT: Will positively consider concrete biz plan for Jet Airways
The DGCA has informed the NCLT that they will positively consider any concrete business plan for Jet Airways.
NCLAT grants one more week to Patanjali Ayurved to complete Rs 4,350-crore Ruchi Soya deal
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya extended the deadline to December 23. Earlier, on November 20, the appellate tribunal had extended the deadline till December 16 for implementation of the resolution plan for Ruchi Soya. The original deadline for implementation of the resolution plan was November 21.
Majority of homebuyers, some lenders vote in favour of NBCC bid to acquire Jaypee Infra
The simultaneous voting to bids of both the contenders — NBCC and Mumbai-based Suraksha Realty — started on Dec 10 and ended tonight at 11.59 pm. As many as 13 banks and over 23,000 homebuyers have voting rights in the Committee of Creditors. Buyers have nearly 58 per cent votes. For a bid to be approved, 66 per cent votes are required.
Over 14,000 prosecutions withdrawn under Companies Act
Among others, the ministry has made the process transparent and non-discretionary for dematerialisation of securities of unlisted public companies.
MCA's 2019 Review: Steps for ease in business, insolvency resolution
In its year-end review, the Ministry of Corporate Affairs (MCA) on Sunday mentioned the various steps it undertook in 2019 for ease of doing business and creating a robust insolvency framework.
Jaypee homebuyers' body urges flat owners, bankers to vote for NBCC bid in insolvency process
On December 7, a committee of creditors (CoC) decided that homebuyers and lenders of Jaypee Infratech will vote on the bids of NBCC Ltd and Suraksha Realty at the same time. The voting process started on December 10 and will continue till December 16.
NCLT admits insolvency plea against Genesis Resorts
The division bench of judicial member Bhaskara Pantula Mohan and technical member Rajesh Sharma restrained the company and its promoters from transferring, encumbering, alienating or disposing of the company’s assets. The moratorium shall be effective until completion of the insolvency resolution process or until the bench approves the resolution plan.
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