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NCLT

Aviva Life settles 2-year-old dispute with Apeejay Trust

Aviva Life settles 2-year-old dispute with Apeejay Trust

Thu, Nov 28, 2019

Citing safety of its policyholders and distributors, Aviva Life has settled the Apeejay Trust case in which the latter was asking Rs 27.67 lakh from the Aviva Life.

Supplier says Flipkart not 'economically viable' after defaulting on payment

Supplier says Flipkart not 'economically viable' after defaulting on payment

Wed, Nov 06, 2019

The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against Walmart owned e-commerce company, Flipkart for defaulting on Rs 18 crore payment to one of its suppliers.

NCLT orders corporate insolvency resolution process against HDIL

NCLT orders corporate insolvency resolution process against HDIL

Sat, Aug 31, 2019

NCLT orders corporate insolvency resolution process against HDIL. Watch this video to know more.

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Reports of taking Jet Airways to NCLT still speculative: SBI

Reports of taking Jet Airways to NCLT still speculative: SBI

Mon, Feb 25, 2019

Jet Airways' largest lender, State Bank of India (SBI), said media reports that it was weighing taking the debt-laden carrier to an insolvency tribunal to recoup loans were "speculative", and that no such decision had been taken.

Kesoram expects to complete tyre business demerger by July

Kesoram expects to complete tyre business demerger by July

Thu, Feb 21, 2019

"It will hopefully complete by end of July. Stock exchanges have given in-principle clearance and now it has been before the Securities and Exchange Board of India (SEBI) for clearance. SEBI's in principle clearance of the demerger should be expected by end of February.

Dena Bank will be out of the PCA list by March 2019: Karnam Shekhar

Dena Bank will be out of the PCA list by March 2019: Karnam Shekhar

Fri, Feb 15, 2019

Karnam Sekar, MD and CEO, Dena Bank during an interview with Swati Khandelwal, Zee Business, said, methods like resolution at NCLT, the sale of assets through ARC and settlement of certain accounts at the bilateral level has helped in bringing down the NPA levels of the bank”.

Historical verdict by NCLT, Auditor banned for 5 years

Historical verdict by NCLT, Auditor banned for 5 years

Fri, Feb 08, 2019

For the first time Statutory Auditor of a company has been disqualified for 5 years from auditing. Mumbai NCLT has passed an order banning a Mumbai-based Chartered Accountant Mukesh Maneklal Choksi for 5 years from auditing any company. Choksi has also been ordered to return the remuneration he received from the company he audited.

Reliance Communications share price plunges 54%; 6 key things to know about Anil Ambani led telco

Reliance Communications share price plunges 54%; 6 key things to know about Anil Ambani led telco

Mon, Feb 04, 2019

Now, debt-laden Reliance Communications will be handled by NCLT professionals.

PNB-Nirav Modi fraud case: NCLT allows MCA to add 19 respondents

PNB-Nirav Modi fraud case: NCLT allows MCA to add 19 respondents

Thu, Jan 31, 2019

The names include PNB's former Chairman and Managing Director Usha Anathasubramanian and Executive Directors K Brahmaji Rao and Sanjiv Saran.

Timely NCLT resolutions can release Rs 67,000 cr to lenders

Timely NCLT resolutions can release Rs 67,000 cr to lenders

Tue, Jan 29, 2019

While the number of insolvency cases are expected to pile up over the next few quarters, timely conclusion of cases within the law mandated 180-270 days can free up as much as Rs 67,000 crore to the system, says a report.

Exclusive: In conversation with V G Kannan, Chief Executive of Indian Banks' Association

Exclusive: In conversation with V G Kannan, Chief Executive of Indian Banks' Association

Tue, Jan 22, 2019

In this segment of Zee Business, watch an exclusive conversation of V G Kannan, Chief Executive of Indian Banks' Association with Our correspondent Anurag Shah.

Good news for homebuyers in Noida: Evaluation criteria for process approved

Good news for homebuyers in Noida: Evaluation criteria for process approved

Fri, Dec 28, 2018

According to a regulatory filing, the committee of creditors (CoC) also approved process note for the request of resolution plan (RFRP) apart from evaluation matrix.

Wow! NCLT helps recover Rs 80,000 crore in 2018, may cross Rs 100,000 crore in 2019

Wow! NCLT helps recover Rs 80,000 crore in 2018, may cross Rs 100,000 crore in 2019

Tue, Dec 25, 2018

Plans are afoot to further strengthen the National Company Law Tribunal (NCLT) by increasing number of judges and benches and provide adequate infrastructure to fast-track the process, according to government officials.

Kotak Mahindra Bank sees corporate loan book swelling by 26 per cent in FY20

Kotak Mahindra Bank sees corporate loan book swelling by 26 per cent in FY20

Sun, Dec 23, 2018

"When we started out FY19, we were aiming for a 15-20 per cent growth, now it looks like it will go up to 20-25 percent. We will maintain same pace in FY20 as well," its head of corporate banking KVS Manian told PTI over the weekend.

NCLT issues contempt notice to Omaxe CMD Rohtas Goel

NCLT issues contempt notice to Omaxe CMD Rohtas Goel

Fri, Dec 14, 2018

Real estate firm Omaxe Group`s second-largest promoter, Sunil Goel, on Thursday, said that NCLT Delhi has issued a contempt of court notice to Rohtas Goel and other directors of Buildwell Builders Pvt Ltd in a malpractices and financial mismanagment case.

Essar Steel debt resolution hits fresh hurdle as GAIL, Getco move NCLT seeking rejection of ArcelorMittal bid

Essar Steel debt resolution hits fresh hurdle as GAIL, Getco move NCLT seeking rejection of ArcelorMittal bid

Tue, Nov 20, 2018

Two public sector undertakings, GAIL and Getco, have approached National Company Law Tribunal (NCLT) separately against Essar Steel lenders’ approval to ArcelorMittal’s bid for the bankrupt steel behemoth, saying operational creditors were left out of it.

Shivinder Singh moves NCLT against elder brother Malvinder Singh, ex-Religare chief Sunil Godhwani

Shivinder Singh moves NCLT against elder brother Malvinder Singh, ex-Religare chief Sunil Godhwani

Wed, Sep 05, 2018

Former Fortis Healthcare promoter Shivinder Singh said Tuesday he has moved the National Company Law Tribunal (NCLT) against elder brother Malvinder and ex-Religare chief Sunil Godhwani, while dissociating from his sibling as business partner.

Big relief for Gitanjali Gems, Rotomac lenders from this unlikely source

Big relief for Gitanjali Gems, Rotomac lenders from this unlikely source

Mon, Sep 03, 2018

In a major judgement by NCLT that would impact cases ranging from Gitanjali Gems to Rotomac Pens, assets of disgraced Rei Agro would now be freed from the control of the ED and get distributed among creditors, who collectively own Rs 10,800 crore dues from the company under liquidation.

Bank NPA crisis a big opportunity? For these foreign banks, there is

Bank NPA crisis a big opportunity? For these foreign banks, there is

Fri, Jul 13, 2018

Foreign banks such as Bank of America Merrill Lynch and Deutsche Bank are keen to buy out non-performing assets (NPAs) from Indian banks. They are in active discussion with Indian banks to take over some loans that have come to the National Company Law Tribunal (NCLT) and stressed assets that have the potential to be taken over and revived.

NCLT verdict favours Tata Sons; Cyrus Mistry to appeal against order, terms ruling as 'disappointing'

NCLT verdict favours Tata Sons; Cyrus Mistry to appeal against order, terms ruling as 'disappointing'

Mon, Jul 09, 2018

Cyrus Mistry was ousted as Tata Sons Chairman in October 2016. Two months later, he and his family-run investment firm, Cyrus Investments, approached the NCLT as minority shareholders against the corporate monolith and others, including Ratan Tata, alleging oppression and mismanagement.

Big setback for Cyrus Mistry in fight against Tata Sons, this is what NCLT did

Big setback for Cyrus Mistry in fight against Tata Sons, this is what NCLT did

Mon, Jul 09, 2018

Cyrus Mistry had alleged mismanagement and oppression of minority shareholders by Tata Sons Chairman emeritus Ratan Tata and other trustees. Earlier, the ousted chairman fired a fresh salvo at the management questioning the rationale behind some actions like the free sale of its telecom arm to Airtel, massive debt-driven acquisitions by Tata Steel and its unequal tie-up with Thyssenkrupp, and a first-ever dip in TCS profit among others.

Top 5 stocks in focus on July 9: Tata Steel, Fortis to Cadila; here are the 5 newsmakers of the day

Top 5 stocks in focus on July 9: Tata Steel, Fortis to Cadila; here are the 5 newsmakers of the day

Mon, Jul 09, 2018

Tracking the positive cues of the Asian markets, the Indian market is expected to be positive on July 9, 2018 (Monday). The markets will be impacted by certain stocks to a large extent by certain stocks.

SBI bets Rs.30,000 crore on Tata Steel buys

SBI bets Rs.30,000 crore on Tata Steel buys

Thu, Jun 21, 2018

Tata Steel has got a letter of comfort from State Bank of India (SBI), which will help it borrow Rs 30,000 crore from the bank to fund acquisitions of assets that come up for auction under Insolvency and Bankruptcy Code (IBC) 2016.

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