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The Latest Breaking News from the National Company Law Appellate Tribunal

Sintex Industries: NCLAT upholds clean slate principle, rejects shareholder's plea for compensation

In a critical ruling, the National Company Law Appellate Tribunal (NCLAT) upheld the clean slate principle enshrined in the Insolvency and Bankruptcy Code (IBC), ruling against shareholder claims for reinstated rights post-resolution. Sintex Industries' compensation grievances were rejected, highlighting the IBC's supremacy over laws like the Companies Act. This verdict…

The Economic Times

Union Bank, LIC Housing Fin, Canara Bank challenge NCLT nod to Subhash Chandra resolution plan

Canara Bank, Union Bank of India, and LIC Housing Finance will challenge a repayment plan. The National Company Law Tribunal approved the plan for Dr Subhash Chandra's insolvency case. These lenders opposed the plan, which was approved by other private creditors. They are filing appeals before the National Company Law…

The Economic Times

NBCC moves Supreme Court over RERA rules for 16 Supertech projects

The Supreme Court will hear NBCC's plea regarding RERA compliance for Supertech projects. NBCC seeks exemption from statutory provisions for completing stalled housing projects. The National Company Law Appellate Tribunal previously refused to grant such waivers. The top court had previously directed NBCC to expedite the completion of these projects.…

The Economic Times

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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 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

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

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

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Go First insolvency: NCLAT to pass order on aircraft lessors' petitions on May 22

The National Company Law Appellate Tribunal will pass its order on May 22 on petitions filed by three aircraft lessors against Go First’s voluntary insolvency resolution proceedings.

The Hindu

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