The Latest Breaking News from NCLT

APSDRI imposes ₹34cr penalty on companies involved in A.P. Fibernet scam for tax evasion. Funds of ₹10.81cr diverted to related firms. Viplav Kumar Valluri, MD of M/s Fastlane, stated that they had not paid taxes as APSFL had not paid invoice amounts. NCLT admitted application and M/s Fastlane is now…

In a big relief for aircraft lessors, the government has amended the Insolvency and Bankruptcy Code 2016 to state that protections granted under a moratorium to a corporate debtor from recovery of dues will not cover aircraft, helicopters and engines.

NCLT rejects pleas from 6 aircraft lessors to bar GoFirst from using their aircraft and appoint an inspector. Court maintained that an order refraining the resolution professional from using the aircraft would amount to “corporate death” and that it was the duty of the interim resolution professional to ensure the…

Housing finance major HDFC merged with its subsidiary HDFC Bank on July 1 as their respective boards had cleared the proposal on June 30.

A news agency formed to take on PTI’s monopoly six decades ago, United News of India’s slump over the past 10 years recently culminated in the initiation of the insolvency proceedings against it. 

India has been placed on global aviation leasing watchdog’s watchlist, assigning it “negative” outlook following the National Company Law Tribunal’s (NCLT) order restricting bankrupt airline Go First’s lessors from repossessing planes while it is undergoing insolvency process.

‘Promoters remain interested in the business’

go first insolvency plea admitted

In a judgement that has come as a shot in the arm for sugarcane farmers, the Madras High Court has said the Fair and Remunerative Price (FRP) fixed by the Centre for their produce was in reality not the fair market price at all, and that small and marginal farmers…

The Hindu’s Morning Digest brings readers a select list of stories to start the day

Go First approached the NCLT on May 3, 2023 and sought the admission of its insolvency plea. It owes creditors ₹11,463 crore, the airline said in its insolvency filing.