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NCLT

IIHL Fails To Deposit ₹2,750 Crore For Reliance Capital Buyout, Violates NCLT Order

IIHL Fails To Deposit ₹2,750 Crore For Reliance Capital Buyout, Violates NCLT Order

04 Aug 2024

The Administrator of debt-ridden Reliance Capital (RCAP) has filed an affidavit with the National Company Law Tribunal (NCLT), accusing IndusInd International Holdings Ltd (IIHL), a Hinduja Group firm, of failing to comply with the conditions set by the tribunal in its July 23 order. The affidavit states that IIHL did...

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BCCI Takes Byju’s To Bankruptcy Court Over ₹158 Crore Unpaid Sponsorship Dues

BCCI Takes Byju’s To Bankruptcy Court Over ₹158 Crore Unpaid Sponsorship Dues

16 Jul 2024

The National Company Law Tribunal (NCLT) in Bengaluru has admitted the Board of Control for Cricket in India’s (BCCI) plea to initiate insolvency proceedings against Byju’s, the ed-tech giant, over unpaid dues of Rs 158 crore. This amount is part of a sponsorship contract for the Indian cricket team's jerseys....

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NCLT Issues Notices to SpiceJet Alleging Default Worth 77 Crore

NCLT Issues Notices to SpiceJet Alleging Default Worth 77 Crore

18 Apr 2024

On April 18, the National Company Law Tribunal (NCLT) sent notifications to SpiceJet regarding three insolvency petitions filed by aircraft lessors AWAS 36698 Ireland, AWAS 36694 Ireland, and AWAS 36695 Ireland, citing a total default of ₹77 Crore. Representing the lessors, senior advocate Pramod Nair highlighted the petitions' basis on...

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NCLT Mumbai: Petition Moved Against A Corporate Guarantor Cannot Be Dismissed Simply Because A Resolution Plan For The Corporate Debtor Is Under The Consideration

NCLT Mumbai: Petition Moved Against A Corporate Guarantor Cannot Be Dismissed Simply Because A Resolution Plan For The Corporate Debtor Is Under The Consideration

22 May 2023

The National Company Law Tribunal, NCLT in the case M/s. Edelweiss Asset Reconstruction Company Limited vs Sadguru Multitrade Private Limited, wherein the bench comprising of Judicial Member, Shri Kuldip Kumar Kareer and the Technical Member, Smt. Anuradha Sanjay Bhatia observed wherein an application was filed under section 7 of Insolvency...

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NCLT admits Go First’s plea for insolvency proceedings

NCLT admits Go First’s plea for insolvency proceedings

10 May 2023

Last Thursday, the budget airline submitted a petition to the National Company Law Tribunal (NCLT), requesting the application of bankruptcy laws to protect its interests. It also sought an interim moratorium to prevent aircraft lessors from seizing its fleet of 26 planes. Furthermore, the airline requested the appointment of an...

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Liabilities to be absorbed by merged entity: ZEE to NCLTmerged

Liabilities to be absorbed by merged entity: ZEE to NCLTmerged

16 Jan 2023

The scheme of merger between Zee Entertainment Enterprises (ZEE) and Culver Max Entertainment (Sony) provides that the liabilities of the former will be absorbed by the merged entity, the company clarified before the National Company Law Tribunal (NCLT). On Thursday, senior advocate Janak Dwarkadas, appearing for ZEE, argued that no...

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