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The Latest Breaking News from NCLAT

NCLAT rejects DoT's 469-crore claim appeal in Rolta insolvency; upholds resolution plan

The NCLAT has officially dismissed the Department of Telecommunications' (DoT) appeal against Rolta India's resolution plan, stating it has already been executed and the company petition is now closed. The resolution professional deemed DoT's claims for overdue license fees as contingent. Furthermore, the tribunal noted that DoT had failed to…

The Economic Times

SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries

The Supreme Court upheld an NCLAT order concerning Grasim Industries. This decision set aside a significant penalty previously imposed by the CCI. The fair trade regulator must now rehear the Aditya Birla Group firm's case. The NCLAT found that Grasim was not given a proper opportunity to present arguments. The…

The Economic Times

Supertech twin towers: SC defers hearing on plea seeking refund for homebuyers

The Supreme Court has deferred a plea for Supertech twin-towers homebuyers' refunds. A submission on the efforts to satisfy homebuyers not opting for alternative allotments are being considered by the bench. The court granted a three-month extension to explore further options for these claims. Homebuyers are reportedly not receiving refunds,…

The Economic Times

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SC issues notice on Venugopal Dhoot's plea against order upholding separate insolvency for VIL, VOVL

The Supreme Court will hear Venugopal Dhoot's plea against an NCLAT order. This order upheld separate insolvency proceedings for two Videocon group entities. The appellate tribunal had set aside an earlier NCLT order directing clubbing of these cases. Creditors intended the corporate insolvency resolution processes to run independently. This decision…

The Economic Times

Gratuity, leave encashment not part of CIRP cost: NCLAT

The NCLAT dismissed an appeal regarding priority payment of gratuity dues. It upheld an earlier NCLT order concerning Duncans Industries' former director. Such dues must be settled according to the company's approved resolution plan. Gratuity is a terminal benefit, not an insolvency resolution process cost. The appellate tribunal found the…

The Economic Times

NCLAT allows withdrawal of insolvency case against Oswal Overseas after settlement with creditor

The National Company Law Appellate Tribunal allowed Oswal Overseas' appeal withdrawal after a settlement. Oswal Overseas and LH Sugar Factories informed the tribunal about their amicable dispute resolution. A demand draft for Rs 2.80 crore was handed over to LH Sugar Factories. The tribunal dismissed an appeal challenging the insolvency…

The Economic Times

NCLAT revives insolvency proceedings against Chintamani's Jewellery Arcade on Axis Bank plea

Insolvency proceedings against Chintamani's Jewellery Arcade have been revived by the NCLAT after Axis Bank filed a restoration application. The tribunal found the company in material and continuing breach of court-recorded settlement terms, failing to adhere to its repayment schedule. This decision reinstates the corporate insolvency resolution process against the…

The Economic Times

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NCLAT revives IL&FS plea in Rs 1,080 crore circuitous transactions, sets aside NCLT order

The National Company Law Appellate Tribunal (NCLAT) has revived IL&FS's plea concerning Rs 1,080 crore in alleged circuitous lending transactions. Setting aside a previous NCLT order, the tribunal stated the lower court erred by not examining the merits of claims that these deals, involving IFIN and SREI group entities, were…

The Economic Times

Vikram Solar shares fall 3% after NCLT admits insolvency petition against the company. Here's why

Vikram Solar shares declined after the NCLT admitted an insolvency petition filed by Isitva Steels over alleged dues linked to civil works for a solar EPC project. The company has disputed the claim, citing a prior settlement agreement, and plans to challenge the order before the NCLAT.

The Economic Times

NCLAT quashes Ligare Aviation's insolvency; loan from Religare Enterprises round-tripping of money

The National Company Law Appellate Tribunal has cancelled insolvency proceedings against Ligare Aviation. The tribunal found the National Company Law Tribunal wrongly admitted a plea from Religare Enterprises. It stated the transactions were merely money laundering, not genuine financial dealings. This decision allows appeals from shareholder Daiichi Sankyo Company. The…

The Economic Times

Ranbir Kapoor-backed Prime Focus shares gain 2% after firm returns to black with Rs 82 crore net profit in Q4

Prime Focus shares saw a rise on Friday. The company reported a profit of Rs 82 crore for the fourth quarter of FY26. This marks a significant turnaround from a loss in the previous year. Revenue also jumped over 42 percent. The company is involved in a legal dispute regarding…

The Economic Times

SC allows Amazon's appeal, sets aside order imposing Rs 202 crore penalty

The Supreme Court has relieved Amazon by setting aside a Rs 202 crore penalty. The apex court also suspended the e-commerce giant's deal with Future Coupons Pvt Ltd. This decision overturns a previous order by the National Company Law Appellate Tribunal. The Competition Commission of India's order imposing the penalty…

The Economic Times

Supreme Court refuses to entertain former NCLAT member's plea to practise before tribunal

The Supreme Court has rejected a plea from a former NCLAT technical member. The plea challenged a rule preventing ex-tribunal members from practicing before the National Company Law Tribunal and NCLAT. The court cited concerns about judicial independence. It noted that allowing former members to appear could create a poor…

The Economic Times

NCLAT rejects pleas against Kerala's liquor procurement agency; upholds CCI order

The Appellate Tribunal NCLAT has upheld a decision by the fair trade regulator CCI. The CCI had closed a complaint alleging abuse of dominant position by Kerala's state-owned liquor procurement agency, KSBC. NCLAT found no concrete evidence of anti-competitive conduct. The tribunal dismissed an appeal filed by industry bodies.

The Economic Times

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The Economic Times

Venugopal Dhoot moves SC against order upholding separate insolvency for Videocon Industries Ltd and VOVL

Videocon founder Venugopal Dhoot has approached the Supreme Court. He is challenging a recent appellate tribunal order. This order allows separate insolvency proceedings for Videocon Industries and Videocon Oil Ventures. Previously, a tribunal had directed clubbing of these cases. The appellate tribunal cited distinct business sectors. This makes a single…

The Economic Times

NCLAT says NCLT cannot directly order SFIO Probe; refers matter to Centre

The National Company Law Appellate Tribunal (NCLAT) has held that the National Company Law Tribunal (NCLT) could not directly order an investigation by the Serious Fraud Investigation Office (SFIO) and clarified that such power rests with the Central Government under the Companies Act.

The Economic Times

NCLAT allows Lyka Labs appeal; asks Modi Lifecare to pay Rs 63 lakh or face insolvency proceedings

The NCLAT has ruled in favor of Lyka Labs. It overturned a previous NCLT decision. Modi Lifecare Industries must now pay Rs 63 lakh within 30 days. Failure to pay will lead to insolvency proceedings against the company. The tribunal found that Modi Lifecare acknowledged its debt. This ruling stems…

The Economic Times

NCLAT upholds separate insolvency processes for Videocon Industries and Videocon Oil Ventures

The NCLAT has upheld separate insolvency proceedings for Videocon Industries Ltd (VIL) and Videocon Oil Ventures Ltd (VOVL), overturning an NCLT order that had clubbed the two cases. The tribunal emphasized the distinct business sectors of VIL (consumer electronics) and VOVL (oil) and the creditors' intent for independent resolutions, a…

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The Hindu

Supreme Court hears SBI consortium’s appeal against NCLAT verdict on Jet Airways transfer

Supreme Court hears SBI consortium's challenge to NCLAT's approval of Jalan-Kalrock consortium's resolution plan for Jet Airways.

The Hindu

NCLAT chairperson calls for developing robust mechanism to regulate digital markets

Effective cooperation among the BRICS nations in striking the right balance between promoting sustainability and competition is pertinent to deal with complex challenges, National Company Law Appellate Tribunal (NCLAT) chairperson Ashok Bhushan said.

The Hindu

SC upholds NCLAT verdict setting aside M.K. Rajagopalan’s bid for Appu Hotels

The Supreme Court on Wednesday upheld The National Company Law Appellate Tribunal (NCLAT) verdict setting aside the approval given to MGM Healthcare managing director M.K. Rajagopalan for making a ₹423-crore bid to take over Appu Hotels Ltd, which owns and operates Le Meridien in Chennai and Coimbatore.

The Times of India

NCLAT upheld Adani Power bid for Korba West Power; asks Shapoorji Pallonji & Co to pursue arbitration for claims

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has upheld the 2019 Resolution Plan of Adani Power's bid for Korba West Power and has asked Shapoorji Pallonji Co to pursue arbitration proceedings for pending claims.

The Times of India

SC refutes Google's plea against NCLAT order; asks it to deposit 10% of Rs 1,338 crore fine in 7 days

NEW DELHI: The Supreme Court on Thursday rejected an appeal by tech giant Google against an order by National Company Law Appellate Tribunal (NCLAT) related to its android platform.

Dynamite News

SC To Hear Google's Plea Against CCI Order On 19 Jan

A bench of Chief Justice DY Chandrachud and Justices PS Narasimha and JB Pardiwala said it will hear the case on Thursday. Read on for details:

The Times of India

Google mulls approaching Supreme Court after NCLAT refuses to stay CCI's Rs 1,338-crore penalty order

NEW DELHI: After facing a setback at NCLAT, which refused to stay a CCI order on abuse of dominant position in multiple markets in the Android mobile device ecosystem case, Google is mulling approaching the Supreme Court, according to sources.

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