Articles about National Company Law Tribunal

In what is being termed as India's biggest loan fraud case, the Central Bureau of Investigation (CBI) has booked a Gujarat-based shipbuilding company and its former directors for allegedly defrauding banks to the tune of Rs 22,842 crore.

Jet Airways will restart domestic operations by the first quarter of 2022 and short-haul international flights by the last quarter of 2022, Jalan-Kalrock Consortium, the winning bidder for the grounded airline, stated on Monday.

The National Company Law Tribunal (NCLT) on Tuesday cleared the resolution plan of Kalrock Capital and entrepreneur Murari Lal Jalan for the revival of the bankrupt Jet Airways.

Comedian-actor Kapil Sharma filed a complaint against car designer Dilip Chhabria on Thursday for reportedly taking Rs. 5.7 crore from him and not delivering his vanity van against the payment.

Dewan Housing Finance Corporation Ltd. (DHFL) has reported a new loan fraud — amounting to Rs. 1,058.32 crore — which was detected by transaction auditor Grant Thornton (GT).

Three promoters of a Delhi-based basmati rice export firm have fled the country with over Rs. 400 crore in unpaid bank loans, officials said on Saturday.

Weeks after the National Company Law Appellate Tribunal (NCLAT) reinstated Cyrus Mistry as the Executive Chairperson of Tata Group, the Supreme Court stayed the tribunal's order citing "basic errors" in it.

Ratul Puri, the nephew of Madhya Pradesh Chief Minister Kamal Nath, has been arrested by the Enforcement Directorate in connection with a Rs. 354 crore bank fraud case, despite multiple attempts to evade arrest.

Jet Airways founder Naresh Goyal, who failed to steer his company from an acute cash crunch, received another setback on Tuesday as Delhi High Court refused to entertain his plea challenging the travel ban imposed on him.

22 long years after it started its business in India, global fast-food chain McDonald's posted its first-ever profit in the country.

The National Company Law Tribunal (NCLT) today allowed the Union Government's interim prayer to reconstitute the Board of Infrastructure Leasing & Financial Services Ltd (IL&FS).

Co-Founder of Fortis Healthcare, Shivinder Mohan Singh filed a lawsuit against his elder brother Malvinder Mohan Singh on Tuesday on grounds of "oppression and mismanagement" in their joint businesses: RHC Holding, Religare and Fortis.

In what seems to be a decisive verdict in the Tata Sons-Cyrus Mistry case, the Mumbai bench of the National Company Law Tribunal (NCLT) has ruled in favor of Tata Sons, dismissing Mistry's pleas challenging his removal as the chairman of the group.

Videocon Industries Ltd., with its massive Rs 39,000cr debt, is facing bankruptcy proceedings after the National Company Law Tribunal (NCLT) admitted a plea from lenders last week, led by the State Bank of India.

Insolvency and Bankruptcy Code 2016 is one of the biggest economic reforms adopted by India. It is a rare example of a much-needed law which has witnessed speedy roll-out and implementation.

The SC has assured the 43,000 investors of the Amrapali Group's housing projects that their money will be protected at all costs, even if that meant selling off the company's assets.

Investigators have taken action against businessmen accused of duping over 20 lenders of Rs. 4,000cr, reports TOI.

It looks like Aircel is in deep water as it's soon going to file for bankruptcy at National Company Law Tribunal (NCLT), according to ET.

Amid rumors that Vikram Kothari had fled the country after defaulting on loans worth Rs. 800cr, the Rotomac chairman has been arrested, reports say.

Mahesh Bhupathi and Lara Dutta, brand ambassadors of Gitanjali Gems, have taken the company to insolvency as operational creditors.

The National Company Law Tribunal (NCLT) has allowed the Centre to take management control of realty giant Unitech after the Corporate Affairs Ministry moved the bankruptcy court.

There's more trouble brewing for Anil Ambani's debt-ridden Reliance Communications as China Development Bank (CDB) filed an insolvency case against it.

A day after the Cabinet approved amendments to the Insolvency and Bankruptcy Code (IBC), President Ram Nath Kovind has given assent for the law to go into force.

Tata Sons shareholders have approved its conversion into a private limited company. It came after NCLAT allowed Cyrus Mistry's family firms to file a case against Tata Sons.

Connaught Plaza Restaurants Limited (CPRL), which manages McDonald's operations in North and East India, reopened 18 of the 43 fast-food chain outlets in Delhi shut since June over expired eating house licenses.

The Finance Ministry has imposed restrictions on the operation of bank accounts of more than 2 lakh companies which have been "struck off" from the Register of Companies.

The immediate future of all 169 McDonald's stores in the north and east is in doubt. If things go bad, they might even shut down within a fortnight.

Under chairman N Chandrasekaran's directions, the board of Tata Sons has ordered its group companies to scrap all business dealings with Cyrus and Shapoor Mistry's Shapoorji Pallonji Group.

Lanco Infratech was touted to be the first company amongst Reserve Bank of India's twelve blacklist companies to face bankruptcy action.

The Reserve Bank of India (RBI) said, its internal advisory committee (IAC) has rounded up 12 accounts, responsible for almost 25% of the non-performing assets (NPAs) problem plaguing the banking system.

The National Company Law Tribunal stated that petitions filed by shareholders linked to Cyrus Mistry, have made no case against the Tata group.

Cyrus Mistry's petition that alleged mismanagement and oppression of minority shareholder interests suffered badly as the National Company Law Tribunal declined to grant "waiver to Cyrus Mistry's family firms on the minimum shareholding requirement to petition" against Tata Sons.

By passing a special resolution, Tata Sons Ltd may ask the Mistry family firms to exit the shareholders' group after 50 years of association.

On Monday, the shareholders of Tata Sons Ltd., controlled by Tata Trusts and Tata Companies, together voted to oust Cyrus Mistry as a director in an extraordinary general meeting (EGM).

The National Company Law Tribunal has dismissed pleas by 2 companies owned by the Mistry family which alleged violations of NCLT directives in removing Mistry from Tata Sons' board.

N.Chandrasekaran, the CEO and managing director of TCS has been appointed the new chairman of Tata Sons. He took over as TCS CEO in 2009.

In a key development, Cyrus Mistry has resigned from six Tata Group Companies.

N Chandrashekaran of TCS and Ralf Speth of Jaguar Land Rover have been elevated to board positions in Tata's holding company, signalling possible considerations for one of them replacing Cyrus Mistry.

In a surprising move, Tata Sons Chairman Cyrus Pallonji Mistry has been replaced by Ratan Tata as Interim Chairman.