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FORGOTTEN HISTORY: National company law tribunal - The Untold Story

Union Bank, LIC Housing Fin, Canara Bank challenge NCLT nod to Subhash Chandra resolution plan

Canara Bank, Union Bank of India, and LIC Housing Finance will challenge a repayment plan. The National Company Law Tribunal approved the plan for Dr Subhash Chandra's insolvency case. These lenders opposed the plan, which was approved by other private creditors. They are filing appeals before the National Company Law…

The Economic Times

NCLT Subhash Chandra Case: Rs 22,000 crore is not bank loan write-off, sources on order

The National Company Law Tribunal approved a repayment plan for Essel Group founder Subhash Chandra. This plan does not signify banks writing off nearly all of Rs 22,000 crore in loans. The Rs 22,006 crore figure represents claims against Chandra as a personal guarantor. Corporate borrowers remain liable for their…

The Economic Times

Judicial, Technical Members appointed in National Company Law Tribunal

The appointments are made for a period of five years with effect from the date they assume the charge. A must read on Dynamite News:

Dynamite News

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Aviation leasing watchdog puts India on watchlist after NCLT’s GoFirst order, assigns negative country ‘negative’ outlook

India has been placed on global aviation leasing watchdog’s watchlist, assigning it “negative” outlook following the National Company Law Tribunal’s (NCLT) order restricting bankrupt airline Go First’s lessors from repossessing planes while it is undergoing insolvency process.

The Hindu

Gymkhana Club row: Government seeks civil and criminal immunity for its directors

The Narendra Modi government has approached the National Company Law Tribunal seeking civil and criminal immunity for all six members of the committee it appointed in April to run the Delhi Gymkhana Club. The committee was tasked with setting the exclusive club in order following allegations of financial irregularities as…

Newslaundry

Future Retail claims shareholders' meet for Reliance deal is legal, in response to Amazon's allegations

NEW DELHI: Big Bazaar-parent Future Retail (FRL) on Friday said the meetings of its shareholders and creditors that are scheduled to be held on April 20 and 21 for the approval of its proposed deal with Reliance Retail are “legal” and conform to the directions issued by the National Company…

The Times of India

NCLT: Hand over charge of Delhi Gymkhana Club ‘forthwith’

NEW DELHI : The National Company Law Tribunal’s decision to allow the central government to take over the management of the Delhi Gymkhana Club is a major jolt to the powerful notables of the national capital.

The Times of India

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2,700 homebuyers face uncertainty in Noida's Logix Blossom Zest society

NOIDA: Around 2,700 homebuyers, of whom less than 1,100 have received their flats, are scrambling to file their claims after the National Company Law Tribunal (NCLT) initiated insolvency proceedings against of Logix Blossom Zest, allowing a plea by operational creditor Colliers International (India) Property Services.

The Times of India

Max Group founder rejects media reports on wife’s plea alleging shareholder oppression

Analjit Singh, founder and chairman of Max Group, has rejected media reports about a petition filed before the National Company Law Tribunal regarding an unlisted promoter entity. "While these allegations are mired in incorrect facts and misrepresentation, we will contest these allegations in the NCLT hearing,” he said in a…

Newslaundry

Real estate developer Supertech declared bankrupt by NCLT

NEW DELHI: In a set back for homebuyers, real estate firm Supertech Developers was declared bankrupt by the National Company Law Tribunal (NCLT) on Friday. Insolvency proceedings has been initiated against the firm.

The Times of India

Lenders approve ASG Hospital’s about ₹550 crore resolution plan for Vasan Health Care

The plan would be placed before National Company Law Tribunal (NCLT) Chennai for approval

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