NATIONAL COMPANY LAW TRIBUNAL
Delhi-NCR realtors enter into joint ventures to tide over cash crunch
A JV or development management agreement puts a large developer in the driver’s seat as the new entrant gains control of the new entity. Additionally, the established developer’s track record and ability to maintain cash flows help bolster project execution and marketing.
BPSL waived Rs 2.6k cr advances and undersold assets, reveal audits
The Enforcement Directorate (ED), which is probing alleged money-launderi...
Torrent Power Q2 profit rises 83% to Rs 755 crore
Total income rose to Rs 3,891.29 crore in the quarter under review from Rs 3,488.66 crore.
Only 15% of the cases resolved under bankruptcy laws: Report
Of the 2,542 cases admitted under IBC till date, 1,497 CIRPs or 59% of cases are still in court.
Yamuna Expressway authority directed to refund Rs 41.14 crore to Jaypee Infratech
As per the judgement, the authority had demanded Rs 2,591.78 crore in January 2015 and another Rs 247 crore in May 2017 from Jaypee Infratech as 'no litigation incentive' or additional compensation to be paid to the farmers whose land was acquired by the authority and then allotted to the developer for constructing Yamuna Expressway projects and other purposes.
Consumer complaints should go to RERA before NCLT, say builders
About 450 real estate companies/projects across the country are facing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) because of default in the delivery of projects to homebuyers as well as repayment of bank loans.
IL&FS' PE arm IIRF moves NCLT against DB Realty
IIRF defaulted in repayment of Rs 108 crore. BSE-listed developer is one of the largest domestic realty-focused funds with investments in firms like Wadhwa Group, Noida Trade Towers and Aparna Infra Housing. IIRF is a part of the IL&FS Investment Managers (IIML), which has raised and managed over $3.5 billion.
Cauvery Power to face insolvency proceedings
The account was classified as a non-performing asset by PNB in January 2019. The company has a coal-based captive power plant of 63 MW capacity at Gummudipoondi near Chennai.
NCLAT sets aside insolvency proceeding against Ambience, asks NCLT to decide afresh
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has remitted the matter back to the National Company Law Tribunal (NCLT), directing it to decide afresh as the order was passed by a single member only.
NCLAT sets aside plea to initiate insolvency proceedings against Intex Technologies
The appellate tribunal observed that there was a pre-existing dispute between the firm and Intex Technologies, and the NCLT has rightly rejected it.
Gujarat NRE Coke former promoter to be ineligible to negotiate with creditors: NCLAT
Jindal Steel and Power, which is an unsecured creditor of Gujarat NRE Coke, had challenged an NCLT order that allowed the promoters to settle debts with its creditors.
LIC’s Rs 11,000-crore exposure to DHFL, Reliance Cap, Sintex defaults in H1 FY20
With AUM of Rs 30 lakh crore, LIC is the largest domestic institutional investor.
NCLT admits insolvency plea against Cox & Kings
The company said last month that the International Air Transport Association (IATA) had terminated its licence to sell air tickets and asked it to surrender the IATA ID card.
Companies undergoing restructuring attract taxman's gaze
The tax department is of the view that a Gujarat-based group did a restructuring merely to escape taxes.
Companies under NCLT asked to inform about export liabilities
The total outstanding duty saved amount / dues along with interest, and any penalty imposed under Foreign Trade (Development and Regulation) Act, or any other dues, shall be counted as part of the dues to the govt against the said firm / company.
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