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The Latest Breaking News from NCLT

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:

Dynamite News

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

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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

The Hindu

South India Corporation willing to settle payment disputes with Tangedco

CHENNAI

The Hindu

Delhi’s Gymkhana Club is new battleground against ‘family fiefdoms’

The central government’s crusade against “family fiefdoms” seems to have reached the doorsteps of the elite Delhi Gymkhana Club, with the union ministry of corporate affairs alleging a violation of norms to fast-track membership claims of relatives of a “select coterie”, and concerns among members about alleged attempts to trace…

Newslaundry

NCLT seeks sources of funding for ASG Hospital’s bid for Vasan Health Care

It also asks for the unconditional letter of commitments from parties willing to fund the acquisition

The Hindu

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NCLT gives nod to resolution plan of Landmark Housing promoters

Tribunal rejects objections to the plan citing Supreme Court rulings

The Hindu

NCLT allows IDBI Bank’s plea to replace liquidator of Jeypore Sugar

‘The liquidator does not possess valid authorisation’

The Hindu

Over 97% of lenders voted in favour of ASG Hospital’s bid for Vasan Health Care, NCLT told

The tribunal wants to hear the resolution plan in detail and has posted the case for hearing on July 8

The Hindu

Bank loans of Tangedco moved out of Rating Watch Negative category

It was removed due to prolonged resolution period of insolvency cases at the National Company Law Tribunal

The Hindu

NCLT allows Tangedco to file additional documents in insolvency case

Tangedco is locked in a dispute with South India Corpn. Ltd. over an amount of ₹1,683.58 crore

The Hindu

NCLT allows plea of Yuvan Shankar Raja’s production company

The company filed an appeal against cancellation of its registration

The Hindu

Committee chaired by CJI deliberated on issue regarding tenure of 23 NCLT members: Centre to Supreme Court

“List the proceedings on June 15, 2022. We request the Solicitor General to apprise the court of the developments which have taken place in the meantime,” the Bench said.

The Hindu

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The Hindu

Jet Airways gets DGCA nod to start commercial flights

NCLT is now expected to transfer ownership of airline to Jalan-Kalrock consortium

Newslaundry

Max Group founder rejects media reports on wife’s plea alleging shareholder oppression

Analjit Singh, founder and chairman of Max Group, has rejected media reports about a petition filed before the National Company Law Tribunal regarding an unlisted promoter entity. "While these allegations are mired in incorrect facts and misrepresentation, we will contest these allegations in the NCLT hearing,” he said in a…

The Hindu

Supertech Ltd. declared bankrupt; NCLT orders insolvency proceedings in ₹432-crore default case

The default pertains to the loan given by Union Bank of India to Eco Village II project at Greater Noida (West) in Uttar Pradesh

The Hindu

Lenders approve ASG Hospital’s about ₹550 crore resolution plan for Vasan Health Care

The plan would be placed before National Company Law Tribunal (NCLT) Chennai for approval

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The Hindu

NCLT orders liquidation of Easun Reyrolle

Appeals filed by State Bank of India and Canara Bank

The Hindu

SC allows Future Retail to move Delhi HC to continue NCLT proceedings

Any delay would render pact with Reliance redundant, FRL argues

The Hindu

Supreme Court permits FRL to approach Delhi HC with plea related to merger with Reliance Retail

“We grant liberty to FRL to approach the Delhi High Court for seeking continuation of proceedings before the NCLT...We request the single judge [of the high court] to pass orders,” the Bench said

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