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The Latest Breaking News from NCLT

Future Retail claims shareholders' meet for Reliance deal is legal, in response to Amazon's allegations

NEW DELHI: Big Bazaar-parent Future Retail (FRL) on Friday said the meetings of its shareholders and creditors that are scheduled to be held on April 20 and 21 for the approval of its proposed deal with Reliance Retail are “legal” and conform to the directions issued by the National Company…

The Times of India · Apr 15, 2022

Future Retail's shareholders' meet to approve Reliance deal is 'illegal': Amazon

NEW DELHI: Amazon has written to Big Bazaar-parent Future Retail alleging that the upcoming meetings of its shareholders and creditors for the approval of the retailer’s proposed Rs 24,700-crore deal with Reliance Retail is “illegal”.

The Times of India · Apr 13, 2022

Supertech's Twin Tower: Homebuyers' interest will be protected, says SC, directs to file claims

NEW DELHI: The Supreme Court on Monday said it will protect the interest of home buyers of 40 storey twin-towers of Emerald Court project of real estate developer Supertech Ltd, which has been now declared bankrupt by NCLT and directed them to file by April 15 their claims for refund…

The Times of India · Apr 4, 2022

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NCLT: Hand over charge of Delhi Gymkhana Club ‘forthwith’

NEW DELHI : The National Company Law Tribunal’s decision to allow the central government to take over the management of the Delhi Gymkhana Club is a major jolt to the powerful notables of the national capital.

The Times of India · Apr 2, 2022

2,700 homebuyers face uncertainty in Noida's Logix Blossom Zest society

NOIDA: Around 2,700 homebuyers, of whom less than 1,100 have received their flats, are scrambling to file their claims after the National Company Law Tribunal (NCLT) initiated insolvency proceedings against of Logix Blossom Zest, allowing a plea by operational creditor Colliers International (India) Property Services.

The Times of India · Mar 28, 2022

Explained: What realtor Supertech's bankruptcy means for its home buyers

NEW DELHI: Realtor Supertech, which has undertaken several projects in Noida, Gurugram, Ghaziabad, and Greater Noida, was declared bankrupt on Friday by the National Company Law Tribunal (NCLT) for defaulting on payment of Rs 431 crore to a consortium of banks. The move could have a bearing on 11,000 home…

The Times of India · Mar 28, 2022

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…

Newslaundry · Mar 28, 2022

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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 · Mar 25, 2022

Real estate developer Supertech declared bankrupt by NCLT

NEW DELHI: In a set back for homebuyers, real estate firm Supertech Developers was declared bankrupt by the National Company Law Tribunal (NCLT) on Friday. Insolvency proceedings has been initiated against the firm.

The Times of India · Mar 25, 2022

AIFs: Sebi streamlines approval process for sponsor changes requiring NCLT nod

NEW DELHI: Markets regulator Sebi has streamlined the process for approval with respect to change in control of sponsor and manager of Alternative Investment Funds (AIFs) involving a scheme of arrangement under the companies law.

The Times of India · Mar 23, 2022

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

The Hindu · Feb 24, 2022

NCLT orders liquidation of Easun Reyrolle

Appeals filed by State Bank of India and Canara Bank

The Hindu · Feb 24, 2022

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

Any delay would render pact with Reliance redundant, FRL argues

The Hindu · Feb 15, 2022

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

The Hindu · Feb 15, 2022

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