National Company Law Tribunal

Timelines
Exporters flee country after cheating 6 banks; SBI files complaint

09 May 2020

Exporters flee country after cheating 6 banks; SBI files complaint

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.

SC stays NCLAT order reinstating Cyrus Mistry as Tata Chairperson

10 Jan 2020

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.

MP CM's nephew, Ratul Puri, arrested for Rs. 354cr bank fraud

20 Aug 2019

MP CM's nephew, Ratul Puri, arrested for Rs. 354cr bank fraud

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.

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

09 Jul 2019

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.

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

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.

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

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).

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

05 Sep 2018

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.

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

09 Jul 2018

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

12 Jun 2018

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.

Know all about the Insolvency and Bankruptcy Code 2016

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

11 May 2018

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.

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

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

19 Feb 2018

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.

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

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

21 Dec 2017

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.

NCLT allows Centre to take over realty major Unitech

08 Dec 2017

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.

More trouble for RCom: China Development Bank files insolvency case

28 Nov 2017

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.

President approves amendment to Insolvency and Bankruptcy Code

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.

Investors' nod to Tata Sons to become private limited company

21 Sep 2017

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.

18 of 43 closed McDonald's outlets reopen in Delhi

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.

Over 2 lakh companies' bank accounts frozen

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.

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

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.

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

17 Aug 2017

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.

Lanco Infratech: First of 12 blacklist companies facing bankruptcy action

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.

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

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.

Tribunal says Mistry makes no case against Tatas

24 Apr 2017

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.

NCLT quashes Mistry's waiver petition

17 Apr 2017

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.

Tatas can force Mistry family to sell stake

28 Feb 2017

Tatas can force Mistry family to sell stake

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

Tata Sons' shareholders vote out Cyrus Mistry from board

06 Feb 2017

Tata Sons' shareholders vote out Cyrus Mistry from board

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).

National Company Law Tribunal rejects Mistry's plea

19 Jan 2017

National Company Law Tribunal rejects Mistry's plea

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.

Natarajan Chandrasekaran appointed as new Tata Sons chairman

12 Jan 2017

Natarajan Chandrasekaran appointed as new Tata Sons chairman

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.

Cyrus Mistry resigns from all listed Tata Companies

19 Dec 2016

Cyrus Mistry resigns from all listed Tata Companies

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

TCS, JLR CEOs elevated, Mistry's decisions to be reviewed

26 Oct 2016

TCS, JLR CEOs elevated, Mistry's decisions to be reviewed

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.

Tata Sons Rejig: Cyrus Mistry removed, Ratan Tata replaced him

25 Oct 2016

Tata Sons Rejig: Cyrus Mistry removed, Ratan Tata replaced him

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