National Company Law Tribunal: News

26 May 2023

Go First

Cash-strapped Go First once again cancels all flights till Sunday

Domestic airline Go First has once again canceled all its flights till May 28, an official statement posted on Twitter said on Friday.

Go First crisis: Aviation leasing watchdog puts India on watchlist

Aviation Working Group (AWG), a United Kingdom (UK)-based global aviation leasing watchdog, has placed India on its watchlist with a negative outlook in view of developments around the Go First Airlines crisis, reported Reuters.

10 May 2023

Go First

Big relief for Go First as NCLT grants bankruptcy protection 

Go First, formerly Go Air, has been granted bankruptcy protection by the National Company Law Tribunal (NCLT) on Wednesday after admitting the airline's voluntary insolvency plea.

08 May 2023

Go First

Facing turbulent times, can Go First take off again

Wadia Group-owned Go First filed for voluntary insolvency last week amid a dire cash flow crisis.

Amid crisis, Go First suspends ticket sales till May 15

The Directorate General of Civil Aviation (DGCA) has reportedly been informed by cash-strapped Indian air carrier Go First about its decision to stop the sale of tickets until May 15.

Go First files for insolvency; suspends flights for May 3-5

Amid a severe cash crunch, Go First Airlines has filed for voluntary insolvency resolution proceedings in the National Company Law Tribunal (NCLT), CEO Kaushik Khona told PTI.

07 Mar 2023


NCLT gives nod to Suraksha Group to buy Jaypee Infratech 

The National Company Law Tribunal (NCLT) has approved Mumbai-based Suraksha Group's bid to buy Jaypee Infratech Limited (JIL) six years after it entered the insolvency process in 2017, PTI reported.

27 Dec 2022

Jet Airways

Senior management and pilots quit Jet Airways amid uncertain future

Erstwhile top private airliner Jet Airways has reportedly been hit with a new blow. As per CNBC TV-18, several members of its senior management, pilots, and cabin crew have exited the grounded carrier.

13 Feb 2022


CBI books Gujarat firm for Rs 22,842 crore loan fraud

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.

13 Sep 2021

Jet Airways

Jet Airways to resume domestic services in Q1 of 2022

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.

22 Jun 2021

Jet Airways

NCLT approves Jalan-Kalrock consortium's plan for Jet Airways

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.

08 Jan 2021


Kapil Sharma files complaint against car designer Dilip Chhabria

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.

14 Dec 2020


New fraud of over Rs. 1,000 crore reported by DHFL

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).

SC stays NCLAT order reinstating Cyrus Mistry as Tata Chairperson

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.

09 Jul 2019

Delhi High Court

Deposit Rs. 18,000cr to travel abroad: Court tells Naresh Goyal

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.

26 Dec 2018


After 22 years, McDonald's posts its first-ever profit in India

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

01 Oct 2018


Government takes over debt-ridden financial firm IL&FS after NCLT nod

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).

05 Sep 2018

Fortis Hospital

Fortis' co-founder Shivinder Singh sues elder brother, snaps business ties

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.

09 Jul 2018

Ratan Tata

Tata vs Cyrus Mistry: NCLT rules in Tata Sons' favor

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: PM Modi, SC, Brazil responsible for Rs. 39,000cr debt

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.

06 Jun 2018


Know all about the Insolvency and Bankruptcy Code 2016

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.

You'll get your money back: SC assures Amrapali homebuyers

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.

19 Mar 2018


How this Mumbai-based firm duped lenders of Rs. 4,000cr

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

Debt-ridden Aircel to file for bankruptcy, exit market soon

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.

19 Feb 2018


Rotomac chairman Vikram Kothari arrested for Rs. 800cr loan default

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, Lara Dutta take Gitanjali Gems to insolvency

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

08 Dec 2017

Delhi Police

NCLT allows Centre to take over realty major Unitech

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.

28 Nov 2017

Bombay High Court

More trouble for RCom: China Development Bank files insolvency case

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

23 Nov 2017


President approves amendment to Insolvency and Bankruptcy Code

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.

21 Sep 2017

Cyrus Mistry

Investors' nod to Tata Sons to become private limited company

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.

20 Sep 2017


18 of 43 closed McDonald's outlets reopen in Delhi

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.

05 Sep 2017


Over 2 lakh companies' bank accounts frozen

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.

21 Aug 2017


169 McDonald's stores in north and east to shut down

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.

17 Aug 2017

Cyrus Mistry

Tata Sons to scrap all deals with Cyrus Mistry's group

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.

20 Jun 2017


Lanco Infratech: First of 12 blacklist companies facing bankruptcy action

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

14 Jun 2017


RBI: 12 mega defaulters, accounting for 25% of NPA, identified

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.

24 Apr 2017

Ratan Tata

Tribunal says Mistry makes no case against Tatas

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

17 Apr 2017

Ratan Tata

NCLT quashes Mistry's waiver petition

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.