[ad_1] New Delhi, Nov 19 (PTI) The National Company Law Appellate Tribunal has stayed insolvency proceedings against BPTP after the real estate firm informed NCLAT that it has settled the dispute with its operational creditor. On November 14, the National Company Law Tribunal (NCLT) had directed to initiate insolvency proceedings...
NCLT allows plea for S Kumars’ insolvency resolution, Legal News, ET LegalWorld – Legal Firms
[ad_1] The bankruptcy court has allowed Edelweiss Asset Reconstruction Co's petition, seeking to initiate insolvency proceedings against S Kumars, and has appointed Anjan Bhattacharya as its interim resolution professional.The ARC had approached the Mumbai bench of the National Company Law Tribunal (NCLT) against the over seven-decade-old textile maker and leader...
NCLAT allows Jindal Stainless to bid for Rathi Super Steel, Legal News, ET LegalWorld – Legal Firms
[ad_1] Appellate tribunal NCLAT has upheld the NCLT order to allow Jindal Stainless to participate in the auction of debt-ridden Rathi Super Steel even after a bidder was selected. The National Company Law Appellate Tribunal (NCLAT) said the NCLT "did not commit any error" as sales were not completed and...
Nine judicial, technical members join NCLT after taking oath, Legal News, ET LegalWorld – Legal Firms
[ad_1] New Delhi, Nov 18 (PTI) Nine judicial and technical members of the National Company Law Tribunal (NCLT) on Friday took oath at a swearing ceremony held at the premises of the insolvency tribunal here. With the induction of these members, the strength has increased to 36 from the existing...
NCLT orders corporate insolvency resolution in BPTP, Legal News, ET LegalWorld – Legal Firms
[ad_1] New Delhi, The National Company Law Tribunal has ordered the commencement of corporate insolvency resolution process of real estate company, BPTP Ltd on November 14.Rakesh Kumar Gupta has been appointed the IRP and the creditors have been asked to provide claims with proof by November 27.RBCL Projects had filed...
NCLT initiates insolvency against Ansal Properties & Infrastructures, Legal News, ET LegalWorld – Legal Firms
[ad_1] The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against realty firm Ansal Properties & Infrastructures on a petition filed by 126 flat buyers of one of the company's housing projects. A two-member bench of the insolvency tribunal had admitted the plea moved by 126 flat/villa...
LTI-Mindtree merger receives NCLT approval, Legal News, ET LegalWorld – Legal Firms
[ad_1] Larsen & Toubro Infotech (LTI) and Mindtree said that they have got clearances to operate as a single company from November 14, marking the closure of an over six-month merger process that is creating India’s fifth largest software company.In a statement, the boards of the two companies said they...
AM Mining India completes acquisition of Uttam Galva Steels, Legal News, ET LegalWorld – Legal Firms
[ad_1] New Delhi, AM Mining India on Thursday said it has completed the acquisition of debt-laden Uttam Galva Steels Limited through the insolvency process. The acquisition follows the recent approval of AM Mining India's resolution plan for Uttam Galva Steels Ltd by the National Company Law Tribunal (NCLT) Mumbai. In...
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...
NCLT admits insolvency plea against infrastructure firm Valecha Engineering, Legal News, ET LegalWorld – Legal Firms
[ad_1] A bankruptcy court in Mumbai has admitted listed infrastructure firm Valecha Engineering under the Corporate Insolvency Resolution Process (CIRP) and has appointed Anurag Kumar Sinha as the interim resolution professional of the company.The State Bank of India (SBI) had filed an application in the Mumbai bench of the National...