FM Nirmala Sitharaman asks PSBs to make 'concerted' efforts for special deposit drives
Aug 20, 2024, at 05:28 pm
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Monday (August 19) called for a collaborative approach between banks, the government, regulators, and security agencies, amid rising cyber threats.
Petition filed with NCLT over WazirX $230 million crypto asset theft
Aug 08, 2024, at 03:16 am
Mumbai: WazirX, along with its infrastructure partner Liminal and other associated entities, is facing a petition with the National Company Law Tribunal (NCLT) due to a $230 million crypto asset theft.
Byju's reaches settlement with BCCI, Riju Raveendran to pay the dues: Report
Jul 31, 2024, at 09:54 pm
Bengaluru: Byju's founder, Byju Raveendran, and the Board of Control for Cricket in India (BCCI) have settled their dispute over outstanding payments, media reports said.
Byju's will shutdown completely if insolvency proceeds, says Byju's Raveendran: Report
Jul 20, 2024, at 05:48 am
New Delhi: Insolvency proceedings against Byju's, once India’s largest startup with a valuation of $22 billion, could lead to mass employee layoffs and a complete halt of its services, Reuters reported, citing a court filing by its CEO.
Byju's to challenge insolvency proceedings this week
Jul 17, 2024, at 10:35 pm
Bengaluru: Education technology company Byju's will challenge insolvency proceedings initiated against it in an effort to block the process this week, as the startup, once valued at $22 billion, tries to navigate its current crisis, two sources said on Wednesday, Reuters reported.
NCLT warns Byju's to pay salaries to workers or face an audit
Jul 05, 2024, at 06:49 am
Bengaluru: The National Company Law Tribunal (NCLT) has directed Byju's to pay its employees' salaries, whether or not the company has access to funds raised through its rights issue, media reported.
NCLT gives nod for Vistara-Air India merger
Jun 08, 2024, at 07:01 pm
Chandigarh/IBNS: The National Company Law Tribunal (NCLT), a quasi-judicial body in India that adjudicates issues relating to Indian companies, at Chandigarh has given its nod for a merger between two airline companies -- Air India and Vistara.
‘Seeds’ of the NPA crisis sown during UPA regime, IBC addressed the issue effectively: Sitharaman
May 31, 2024, at 10:55 pm
New Delhi: The ‘seeds’ of the NPA crisis were sown during the Congress-led UPA era through ‘phone banking’, when loans were given to undeserving businesses under pressure from UPA leaders and party functionaries. Banks were forced to neglect proper due diligence and risk assessment before sanctioning these loans, Finance Minister Nirmala Sitharaman said on X.
Byju's exploring out-of-court settlements with two of its creditors: Report
May 29, 2024, at 01:58 am
New Delhi: Troubled ed-tech firm Byju's is looking into out-of-court settlements with two of its creditors, Teleperformance and Surfer Technologies, the National Company Law Tribunal (NCLT) was informed on Tuesday, media reported.
Byju's gets 3 NCLT notices over non-payment of dues: Report
May 22, 2024, at 10:28 pm
New Delhi: The National Company Law Tribunal (NCLT) on Wednesday issued notices to Think and Learn Pvt Ltd, the parent company of Byju’s, in three cases related to unpaid dues to operational creditors, media reports said.
Zee withdraws application for execution of merger with Sony
Apr 17, 2024, at 05:46 am
Mumbai: Zee Entertainment Enterprises Ltd. announced on Tuesday that it has withdrawn its application from the National Company Law Tribunal (NCLT) regarding the execution of its merger with Sony Entertainment Enterprises (Culver Max), the company said in a statement.
American finance company approaches NCLT to initiate insolvency proceedings against Byju's
Feb 22, 2024, at 05:09 am
Bengaluru: Glas Trust Company LLC, a United States-based non-bank loan agency, filed a plea for insolvency against the troubled-ed tech firm Byju's at the National Company Law Tribunal (NCLT) in Bengaluru, a media report said.
BCCI files case against Byju's with NCLT
Nov 29, 2023, at 04:35 am
New Delhi: Troubled ed-tech company Byju’s is facing fresh challenges as the Board of Control for Cricket in India (BCCI) has dragged the firm to the National Company Law Tribunal, the adjudicator’s website says.
Lenders disappointed with Jindal's Rs 301 cr bid for debt-laden Future Enterprises
Nov 18, 2023, at 08:20 am
Kolkata: Jindal (India) has bid Rs 301 crore for Future Enterprises, which is less than 3% of the total Rs 12,265-crore loan exposure, rendering it almost inconsequential to lenders, ET reported.
Gautam Adani considering bidding for Anil Ambani's coal-fired power plants under auction: Report
Jul 12, 2023, at 06:20 am
New Delhi: Billionaire Gautam Adani is contemplating a bid for the coal-fired power plants owned by Anil Ambani, who is facing financial difficulties, Bloomberg reported.
Go First Insolvency: Central Bank of India, 3 other lessors file applications in NCLT
Jun 15, 2023, at 08:42 am
Mumbai: Central Bank of India and lessors including SMBC Afro Engine Leasing, Bluesky 19 Leasing Company Limited, and Bluesky 31 Leasing Company Limited, filed fresh applications in the insolvency plea of Go First at the National Company Law Tribunal (NCLT), media reports said.
May 20, 2023, at 06:50 am
New Delhi: The National Company Law Appellate Tribunal (NCLAT) will hear a plea made by Jalan Kalrock Consortium (JKC), the successor to Jet Airways management, on May 22. JKC is seeking directions to prevent the State Bank of India (SBI) from invoking its bank guarantee of Rs 175 crore, media reports said.
May 17, 2023, at 07:39 am
The Interim Resolution Professional (IRP) of Go First Abilash Lal has informed the National Company Law Tribunal (NCLT) that the financially strained airline has incurred disproportionate liabilities due to the grounding of its aircraft, Moneycontrol reported.
'Absolutely no question of filing for insolvency': SpiceJet CEO Ajay Singh on insolvency rumours
May 12, 2023, at 03:17 am
New Delhi: Budget airline SpiceJet has said that it is implementing measures to restore its grounded fleet by utilizing the $50 million received from the government's Emergency Credit Line Guarantee Scheme (ECLGS) along with internal cash accruals. The company aims to dispel any rumors of insolvency.
Go First may start services soon after NCLT approves insolvency plea: Report
May 11, 2023, at 10:13 pm
Mumbai: Cash-strapped budget carrier Go First may resume regular flights soon as it plans to go business as usual after the National Company Law Tribunal (NCLT) gave its nod to the company’s insolvency plea, paving the way for the airline’s revival.
NCLT approves merger of HDFC and HDFC Bank
Mar 18, 2023, at 04:48 am
The National Company Law Tribunal (NCLT) gave its approval for the merger of HDFC and HDFC Bank, which is considered to be the largest merger in corporate history.
Future Enterprises declared insolvent, to be auctioned off
Mar 09, 2023, at 04:18 am
Mumbai: After Future Retail, another Kishore Biyani-owned company, Future Enterprises, has been admitted to insolvency resolution and will be auctioned off in order to collect outstanding debts, a report in the media said.
NCLT allows Jet Airways ownership transfer to Jalan Kalrock Consortium: Report
Jan 14, 2023, at 03:27 am
New Delhi: The National Company Law Tribunal (NCLT) has given nod to transfer the ownership of grounded Jet Airways to the Jalan Kalrock Consortium (JKC), which had won the bid to revive the carrier in 2021, media reported.
Reliance Jio gets NCLT's nod to acquire Reliance Infratel
Nov 23, 2022, at 03:21 am
Mumbai/IBNS: Reliance Jio Monday secured approval of the National Company Law Tribunal (NCLT) to acquire debt-laden Reliance Infratel in a bankruptcy resolution that lingered for two years, media reports said.
Gail to acquire debt-ridden JBF Petrochemicals as lenders approve transaction
Oct 19, 2022, at 02:44 am
New Delhi: India's leading gas trading, transmission, and petrochemicals company Gail Ltd has received the letter of intent from lenders, paving the way for the public sector firm to acquire the debt-ridden JBF Petrochemicals through the insolvency route, media reports said.
NTPC acquires Jhabua Power Limited through Corporate Insolvency Resolution route
Sep 06, 2022, at 04:59 am
Mumbai: State-run integrated power generation company NTPC has successfully acquired Jhabua Power Limited (JPL) through Corporate Insolvency Resolution Process initiated by National Company Law Tribunal, Kolkata, (NCLT).
Vedanta, Adani Ports, JSW Infra, Jindal Power submit EOIs for Karaikal Port auction
Aug 03, 2022, at 04:51 pm
The upcoming auction of Karaikal Port, which is undergoing insolvency procedure under the National Company Law Tribunal (NCLT), is likely to see the participation of Vedanta, Adani Ports and Special Economic Zone, JSW Infrastructure, Jindal Power, and a consortium of RKG Fund and Sagacious Capital, media reports said.
ZEE-Sony receives merger approval from BSE, NSE
Jul 30, 2022, at 04:36 pm
Mumbai/IBNS: Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Friday granted approval to Zee Entertainment Enterprises Ltd (ZEEL) regarding its proposed merger with Culver Max Entertainment Pvt. Ltd. (previously Sony Pictures Networks India Private Limited).
NCLT allows insolvency proceedings against Future Retail
Jul 21, 2022, at 03:42 am
The Mumbai bench of the National Company Law Tribunal (NCLT) allowed a consortium of lenders, led by Bank of India, to initiate insolvency proceedings against debt-laden Future Retail, media reports said.
Pawan Hans sale put on hold after NCLT order against winning consortium member
May 17, 2022, at 05:36 am
New Delhi: Government has put on hold the sale of Pawan Hans as it is scrutinizing the legal aspects of an NCLT order on Alamas Global, which is one of the members of the winning consortium, according to reports.