National Company Law Tribunal: News

22 May 2024

BYJU'S

NCLT serves 3 notices to BYJU'S over unpaid dues

The National Company Law Tribunal (NCLT) has issued three notices to Think and Learn Pvt Ltd, the parent company of edtech giant BYJU'S, over unsettled debts owed to operational creditors.

02 May 2024

OPPO

NCLT issues notice in BYJU'S insolvency case initiated by OPPO

The National Company Law Tribunal (NCLT) in Bengaluru has issued a notice regarding an insolvency plea against ed-tech giant BYJU'S, initiated by mobile phone manufacturer OPPO.

15 Apr 2024

Sony

NCLAT to hear Zee-Sony merger disputes on May 17

The National Company Law Appellate Tribunal (NCLAT) has scheduled a hearing for the disputes surrounding the Zee-Sony merger on May 17.

09 Apr 2024

BYJU'S

After two months delay, BYJU'S commences salary payout for March

Beleaguered edtech firm BYJU'S has initiated the process of disbursing delayed salaries for March.

08 Apr 2024

Ajay Singh

Go First given another 60-day extension to complete insolvency process

The National Company Law Tribunal (NCLT) has granted another 60-day extension to the struggling airline, Go First, for its insolvency proceedings.

02 Apr 2024

BYJU'S

BYJU'S fires employees via calls in new wave of layoffs

BYJU'S, a prominent edtech firm, has initiated a new round of layoffs affecting an estimated 100 to 500 employees, primarily in the sales department, as reported by Moneycontrol.

29 Mar 2024

BYJU'S

BYJU'S invites dissenting shareholders to participate in rights issue

BYJU'S, the edtech company currently facing challenges, has extended an invitation to its dissenting shareholders to participate in a rights issue within the next 72 hours.

27 Feb 2024

BYJU'S

NCLT hearing: Why BYJU'S investors are against rights issue

Today, a showdown unfolded at the National Company Law Tribunal (NCLT) in Bengaluru between four investors of ed-tech giant BYJU'S and the company's board of directors.

13 Feb 2024

Go First

Go First insolvency: NCLT grants 60-day extension for resolution

Go First has been granted an additional 60 days by the National Company Law Tribunal (NCLT) to wrap up its corporate insolvency resolution process (CIRP).

30 Jan 2024

Zee

Sony-Zee merger: NCLT asks Sony to respond in 3 weeks

Mad Man Film Ventures, a Zee shareholder, has filed a plea with the National Company Law Tribunal (NCLT) to intervene and rescue the failed deal between Sony and Zee.

30 Jan 2024

SpiceJet

SpiceJet shares jump over 4% after NCLT dismisses insolvency bid

SpiceJet's shares soared over 4% in early trade today, hitting a two-week high after the National Company Law Tribunal (NCLT) dismissed an insolvency petition against the budget airline.

NCLT to hear BCCI vs BYJU'S case on January 17

The National Company Law Tribunal (NCLT) in Bengaluru has set a hearing for January 17 in the high-profile case between the Board of Control for Cricket in India (BCCI) and edtech giant BYJU'S.

04 Dec 2023

SpiceJet

NCLT dismisses insolvency plea against SpiceJet

On December 4, the National Company Law Tribunal (NCLT) rejected a request to begin insolvency proceedings against budget airline SpiceJet.

11 Sep 2023

India

Coffee Day Enterprises shares plummet 15% amid default allegations

Coffee Day Enterprises stocks dropped 15% today (September 11), after IDBI Trusteeship Services registered a default application against the company with the National Company Law Tribunal (NCLT).

08 Sep 2023

Cafe Coffee Day

Cafe Coffee Day faces bankruptcy proceedings under IBC Section 7

Cafe Coffee Day (CCD), a popular coffee chain in India, is facing bankruptcy proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC).

06 Sep 2023

SpiceJet

SpiceJet issues shares to clear dues worth Rs. 231 crore

In an effort to settle outstanding dues valued at Rs. 231 crore, SpiceJet has announced plans to offer 48.1 million equity shares to nine of its aircraft lessors.

31 Aug 2023

Zee

NCLAT accepts IDBI Bank's insolvency plea against ZEEL

The National Company Law Appellate Tribunal (NCLAT) has admitted IDBI Bank's plea to start insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL).

10 Aug 2023

Zee

NCLT approves Zee-Sony merger; Zee stock gains 18%

The National Company Law Tribunal (NCLT) has given the green light for the merger of Zee Entertainment Enterprises Ltd. and Sony Pictures (Culver Max Entertainment).

24 Jul 2023

Cafe Coffee Day

Coffee Day Global reportedly faces bankruptcy proceedings: What happened

Cafe Coffee Day (CCD) is known for pioneering India's cafe culture. It was once the country's largest cafe chain but has been through a lot in the past few years.

22 Jul 2023

Maharashtra

NCLT clears Lavasa private hill station's sale for Rs. 1,800cr

In a major development, the National Company Law Tribunal (NCLT) has reportedly given its nod to a revised Rs. 1,814cr insolvency resolution plan by Darwin Platform Infrastructure Limited (DPIL) for the revival of the private Lavasa hill city project in the Pune district of Maharashtra.

29 May 2023

Go First

Pilots offered Rs. 1L to not leave Go First: Report

Struggling to retain employees, cash-strapped airline Go First has credited salaries for the month of April, according to CNBC-TV18.

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

Mumbai

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

India

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

Bollywood

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

DHFL

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

India

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

India

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

India

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

Mumbai

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

India

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

India

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.

20 Sep 2017

Delhi

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

India

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

India

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

India

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

India

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.