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The Latest Breaking News from NCLT

NCLT seeks Sony response to Zee plea seeking merger

Correction at 11.45 am on June 18: This report earlier carried a logo which belonged to Zee Media Corporation Limited (ZMCL) instead of Zee Entertainment Enterprises. ZMCL is not involved in the transaction between Zee Entertainment Enterprises Limited and Sony Pictures Networks India. The error is regretted.

Newslaundry

‘Disappointed’: Sony after Singapore centre allows Zee to move India tribunal

The Sony group, or Culver Max Entertainment Pvt Ltd, has reportedly expressed disappointment after the Singapore International Arbitration Centre denied its petition to restrain Zee Entertainment Enterprises Ltd from approaching NCLT to enforce the merger that was called off.

Newslaundry

Sony's plea seeking to restrain Zee over merger denied

Zee Entertainment denies Sony's plea to restrain them from enforcing a merger called off by Sony.

The Hindu

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Zee urges Sony to fulfill merger commitments, seeks tribunal intervention

Zee Entertainment requests Sony to fulfill merger commitments and takes the matter to tribunal for resolution. A detailed overview of the situation.

Top News

Dispute between IL&FS and New Tirupur Area Development Corporation over debt repayment

Dispute over debt repayment between NTADCL and IL&FS, leading to legal action and complications for IL&FS's stake in NTADCL.

The Hindu

Morning Digest | PM Modi says government working to make cooperatives strong part of rural life; Supreme Court forms panel to prepare SOP for adjournments, and more

The Hindu Morning Digest gives a select list of stories to start the day. Read the top news today on December 28, 2023

The Hindu

Appu Hotels out of insolvency process

NCLT approves Appu Hotels Ltd.'s settlement proposal to creditors, allowing them to resume hospitality business in Chennai & Coimbatore.

The Hindu

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Andhra Pradesh Directorate of Revenue Intelligence imposes penalties of ₹34 crore on firms involved in ‘FiberNet scam’

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…

The Hindu

Moratorium under IBC to exempt aircraft and engines, govt. notifies

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.

The Hindu

Bombay HC issues notice to art director Nitin Desai's widow in quashing pleas in suicide abetment case

MUMBAI: Bombay high court on Friday issued notice to the state and the widow of art director Nitin Desai on quashing petitions filed by five persons accused of abetting his August 2 suicide.

The Times of India

GoFirst can fly leased aircraft, says NCLT

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…

The Hindu

HDFC Bank completes merger formalities, rebrands HDFC Ltd. offices, branches

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

The Hindu

UNI’s insolvency proceedings: End of the road or will investors ride to the rescue?

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.

Newslaundry

Aviation leasing watchdog puts India on watchlist after NCLT’s GoFirst order, assigns negative country ‘negative’ outlook

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.

The Hindu

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The Hindu

Go First must raise funds to keep it a going concern, IRP Lal tells airline’s staff

‘Promoters remain interested in the business’

The Hindu

NCLT admits Go First’s insolvency plea, grants moratorium

go first insolvency plea admitted

The Hindu

‘Fair and Remunerative Price’ fixed by Centre for sugarcane is not a fair market price at all, says Madras High Court

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

Morning Digest | Jaishankar discusses LAC stand-off with Chinese Foreign Minister; many killed in Manipur riots on second day of curfew, and more

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

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news in one place.

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The Hindu

Go First moves NCLT, says total dues to creditors at over ₹11k crore

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.

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

From an industry leader to a defaulter: Rise and fall of Venugopal Dhoot

NEW DELHI: Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's…

Dynamite News

Nine Judicial, Technical Members Join NCLT After Taking Oath

Nine judicial and technical members of the NCLT on Friday took oath at a swearing ceremony held at the premises of the insolvency tribunal here. Read on for details:

The Hindu

KCCI urges Centre to amend Insolvency and Bankruptcy Code in the interest of MSMEs

President of KCCI M. Ganesh Kamath writes letter to Union Minister for Finance Nirmala Sitaraman seeking amendment

The Hindu

NCLT rejects M.K. Rajagopalan’s plea against ASG Hospital’s bid for Vasan Health Care

MD of MGM Healthcare alleged the approved resolution plan of ASG was in violation of Insolvency and Bankruptcy Code regulation; NCLT, however, ruled his plea was rejected as not tenable in law or on facts

The Hindu

Andhra Pradesh: NCLT cancels auction of Lepakshi Knowledge Hub land

It orders reassessment of the land value and start process of corporate insolvency resolution again

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