[ad_1] In two separate orders, the Mumbai bankruptcy court dismissed Canara Bank's petition to admit GTL Infrastructure and GTL Ltd for corporate insolvency.The two-member bench relied on the Supreme Court's order of Vidarbha Industries Power for GTL Infra and the failure of lenders to adhere to the central bank's guidelines...
NCLT admits SBI’s insolvency plea against Gayatri Projects, Legal News, ET LegalWorld – Legal Firms
[ad_1] The Hyderabad bench of the National Company Law Tribunal (NCLT) has admitted a petition by the State Bank of India (SBI) to start bankruptcy proceedings against Gayatri Projects as lenders increase pressure on the debt-laden engineering, procurement and construction (EPC) company to recover dues of over ₹6,000 crore.SBI's petition...
Banks can’t deal with family pension on their whim & fancy, says Karnataka HC, Legal News, ET LegalWorld – Legal Firms
[ad_1] BENGALURU: A bank cannot deal with family pension "at its whim and fancy" since the pension is not a bounty or gratis granted to the pensioner or his/her spouse, the Karnataka high court has observed in a recent order, coming to the rescue of a 73-year-old woman.Canara Bank (formerly...
NCLT disposes insolvency plea against Gannon Dunkerley citing settlement talk, Legal News, ET LegalWorld – Legal Firms
[ad_1] The Mumbai bench of the National Company Law Tribunal (NCLT) has disposed of an insolvency petition filed by Canara Bank against Gannon Dunkerley & Co, as lenders are considering a settlement proposal from the construction and engineering firm.The insolvency petition had been filed by Canara Bank, after Gannon Dunkerley...
Karnataka HC, Legal News, ET LegalWorld – Legal Firms
[ad_1] BENGALURU: The gratuity amount of an employee cannot be adjusted towards his/ her loan account, the Karnataka HC has ruled recently.Rejecting a petition filed by Canara Bank, Justice Suraj Govindaraj has pointed out that there is a special treatment for payment of gratuity both under the Payment of Gratuity...