NATIONAL COMPANY LAW TRIBUNAL
NCLT admits RBI plea seeking bankruptcy resolution for DHFL
The move came in after the Reserve Bank last Friday made an application for bankruptcy proceedings to resolve the credit and liquidity crisis at the company, which became the first financial sector player being sent for bankruptcy. dmitting the petition, an NCLT bench said the petition deserves admission."
'Raymond brand' to remain with new demerged lifestyle firm
Textile player Raymond on Monday said ownership of Raymond brand will remain with ...
NCLT orders status quo on Omaxe’s land in Hyderabad
The NCLT has also ordered nonencumbrance on the land, on a petition filed by group chairm...
Dharamshi-Jhunjunwala Consortium: NCLT okays Ricoh revival plan
A dedicated bankruptcy court has accepted the resolution plan for the revival of Ricoh India, the largest player in printing and document solutions.
Patanjali secures Rs 3,200 crore loan from banks to buy Ruchi Soya
"The company has already secured required total debt from a consortium of banks led by State Bank of India," Patanjali Ayurved Managing Director Acharya Balkrishna said in a statement. Patanjali also said it has got loans of Rs 1,200 crore from SBI, Rs 700 crore from Punjab National Bank, Rs 600 crore from Union Bank of India.
Lenders to refer more cases to NCLT
Banks must come up with a plan by January 7. It they fail, it would be the beginning of a difficult chapter.
ABB India gets NCLT nod for demerger of power grid business to APPSIL
"The Bengaluru Bench of the National Company Law Tribunal (NCLT) vide its order dated November 27, 2019 sanctioned the said Scheme involving the demerger of the power grids business of the company to APPSIL under the provisions of Sections 230 - 232 and other applicable provisions of the Companies Act, 2013," ABB India said.
CG Power lenders hire audit company BDO to monitor fund flows
Lenders are reluctant to give fresh loans to the company hit by allegations of corporate governance violations and fraud. They are nervous about the way the cash flows are managed and want to monitor the daily expenses, and hence all expenditures will be approved through Belgium-headquartered auditing firm BDO.
Debt-laden Air India will have to shut down if sale offer flops
“The airline will have to close down if it’s not privatized,” Hardeep Singh Puri told the Parliament.
Aviva Life settles insolvency case in NCLT
Aviva Life Insurance on Wednesday said the insolvency case filed against the company, in a matter involving commercial dispute of Rs 27 lakh, has been settled.
Reliance Jio may have to bear some of RCom’s AGR dues
Jio's dues will need to pay will include those on RCom’s spectrum that was part of the 2016 trading deal.
RCom rallies 6% to hit upper circuit on asset sale buzz
RCom's secured debt is estimated to be around Rs 33,000 crore. Lenders have submitted claims of around Rs 49,000 crore in August.
NCLT approves Royale Partners Investment’s bid for EPC Construction
The foreign investor has offered to put in around Rs 900 crore to revive the company, which owed more than Rs 7,700 crore to its financial and operational creditors. The company’s lenders had approved the plan earlier this year, with 73% of them based on the outstanding debt voting in favour of Royale Partners.
Corporate affairs ministry moves NCLT to reopen CG Power books for FY15-19
The National Company Law Tribunal (NCLT) directed the ministry to issue notices to market regulator Sebi, the income tax department and Thapar to file reply within a week and also asked the ministry to file the rejoinder a week later. The tribunal has posted the matter for more hearing to December 16.
NCLAT order may pave the way for delisting Alok Inds
NCLAT, in view of this, directed Reliance in its Wednesday order to comply with Sebi regulations.
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