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UNCOVERED: Nclt - The Untold Story

NCLAT quashes Ligare Aviation's insolvency; loan from Religare Enterprises round-tripping of money

The National Company Law Appellate Tribunal has cancelled insolvency proceedings against Ligare Aviation. The tribunal found the National Company Law Tribunal wrongly admitted a plea from Religare Enterprises. It stated the transactions were merely money laundering, not genuine financial dealings. This decision allows appeals from shareholder Daiichi Sankyo Company. The…

The Economic Times

JP Power shares surge 28% in 2 days, Adani Power hits fresh 52-week high amid optimism around stake acquisition

Jaiprakash Power Ventures shares surged on Friday, extending their two-day rally to 28%, amid strong investor optimism surrounding Adani Power’s proposed stake acquisition in the company. JP Power stock climbed to Rs 24.50 and is up nearly 31% this week, with heavy trading activity as over 24 crore shares worth…

The Economic Times

Insolvency recoveries nearly halve in FY26 due to rising delays: Report

Recoveries under India's Insolvency and Bankruptcy Code (IBC) saw a sharp decline in FY 2025-26. Admitted claims yielded only 23 percent, a significant drop from the previous year. This downturn is attributed to increasing delays in resolution processes. The number of corporate insolvency cases admitted also decreased.

The Economic Times

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IBC: Creditors realised Rs 4 lakh cr; cases involving Rs 14 lakh cr settled in pre-admission stage

India's Insolvency and Bankruptcy Code (IBC) has facilitated over Rs 4 lakh crore in creditor realisations from resolved cases. Additionally, nearly Rs 14 lakh crore in claims were settled pre-admission, showcasing a significant shift in debtor-creditor dynamics and promoting timely resolution of financial stress.

The Economic Times

JP Power shares soar 20% on optimism around Adani Power’s 24% stake purchase

Jaiprakash Power Ventures shares surged on Wednesday, extending gains for a fifth straight session and rising more than 25% during this period. Trading activity remained strong, with over 87 crore shares worth Rs 1,904 crore changing hands.

The Economic Times

Venugopal Dhoot moves SC against order upholding separate insolvency for Videocon Industries Ltd and VOVL

Videocon founder Venugopal Dhoot has approached the Supreme Court. He is challenging a recent appellate tribunal order. This order allows separate insolvency proceedings for Videocon Industries and Videocon Oil Ventures. Previously, a tribunal had directed clubbing of these cases. The appellate tribunal cited distinct business sectors. This makes a single…

The Economic Times

NCLAT says NCLT cannot directly order SFIO Probe; refers matter to Centre

The National Company Law Appellate Tribunal (NCLAT) has held that the National Company Law Tribunal (NCLT) could not directly order an investigation by the Serious Fraud Investigation Office (SFIO) and clarified that such power rests with the Central Government under the Companies Act.

The Economic Times

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Adani Power inks deals to buy Jaiprakash Power stake, Churk assets for over Rs 4,193 crore total

Adani Power is set to acquire a significant stake in Jaiprakash Power Ventures and a thermal power plant. This move is part of a resolution plan for Jaiprakash Associates. The acquisitions will boost Adani Power's generation capacity and expand its presence in the thermal power sector. The deal is expected…

The Economic Times

Adani Ports to acquire indirect control of Kanpur Fertilizers for Rs 1,500 crore under Jaiprakash Associates resolution plan

Adani Ports will acquire Jaypee Fertilizers & Industries for Rs 1,500 crore. This deal gives Adani Ports control of land in Kanpur. This land is suitable for a large logistics park. The acquisition will boost Adani Ports' inland logistics network in North India. It supports their plan to expand multimodal…

The Economic Times

NCLAT allows Lyka Labs appeal; asks Modi Lifecare to pay Rs 63 lakh or face insolvency proceedings

The NCLAT has ruled in favor of Lyka Labs. It overturned a previous NCLT decision. Modi Lifecare Industries must now pay Rs 63 lakh within 30 days. Failure to pay will lead to insolvency proceedings against the company. The tribunal found that Modi Lifecare acknowledged its debt. This ruling stems…

The Economic Times

NCLAT upholds separate insolvency processes for Videocon Industries and Videocon Oil Ventures

The NCLAT has upheld separate insolvency proceedings for Videocon Industries Ltd (VIL) and Videocon Oil Ventures Ltd (VOVL), overturning an NCLT order that had clubbed the two cases. The tribunal emphasized the distinct business sectors of VIL (consumer electronics) and VOVL (oil) and the creditors' intent for independent resolutions, a…

The Economic Times

From courtrooms to uncertainty: Inside UNI’s Rs 75-crore deal with Statesman

After nearly two years of courtroom battles and backstage negotiations, a resolution has finally emerged for the United News of India – a news agency that once challenged the PTI’s dominance in the media landscape.

Newslaundry

Kerala government to appeal NCLT order to hand over steel complex to Chhattisgarh company

The Hindu

New Tirupur Area Development Corporation and IL&FS spat reaches Registrar of Companies

Chennai dispute between NTADCL and IL&FS over debt repayment reaches RoC Coimbatore amid allegations and investigations.

The Hindu

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The Hindu

De-register and allow export of all Go First aircraft: Delhi HC to DGCA

Delhi High Court orders DGCA to deregister Go First's fleet, facilitating export, amid ongoing insolvency resolution process.

The Hindu

Morning Digest | Supreme Court says EVMs are accurate unless they are maligned by human bias; X takes down four posts on EC order, and more

The Hindu Morning Digest gives a select list of stories to start the day. Read the top news today on April 17, 2024

The Hindu

NCLT admits insolvency petition against BGR Energy Systems

NCLT admits insolvency petition against BGR Energy Systems filed by RDC Concrete India Private Ltd for ₹7.20 crore default.

The Hindu

Majority of Byju's shareholders vote for removing CEO, family members; company calls vote invalid

Byju's shareholders vote to remove founder CEO over mismanagement, sparking legal battle and corporate turmoil.

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Newslaundry

NCLT seeks Sony response to Zee plea seeking merger

Correction at 11.45 am on June 18: This report earlier carried a logo which belonged to Zee Media Corporation Limited (ZMCL) instead of Zee Entertainment Enterprises. ZMCL is not involved in the transaction between Zee Entertainment Enterprises Limited and Sony Pictures Networks India. The error is regretted.

Newslaundry

‘Disappointed’: Sony after Singapore centre allows Zee to move India tribunal

The Sony group, or Culver Max Entertainment Pvt Ltd, has reportedly expressed disappointment after the Singapore International Arbitration Centre denied its petition to restrain Zee Entertainment Enterprises Ltd from approaching NCLT to enforce the merger that was called off.

The Hindu

Sony's plea seeking to restrain Zee over merger denied

Zee Entertainment denies Sony's plea to restrain them from enforcing a merger called off by Sony.

Top News

Zee urges Sony to fulfill merger commitments, seeks tribunal intervention

Zee Entertainment requests Sony to fulfill merger commitments and takes the matter to tribunal for resolution. A detailed overview of the situation.

The Hindu

Dispute between IL&FS and New Tirupur Area Development Corporation over debt repayment

Dispute over debt repayment between NTADCL and IL&FS, leading to legal action and complications for IL&FS's stake in NTADCL.

The Hindu

Morning Digest | PM Modi says government working to make cooperatives strong part of rural life; Supreme Court forms panel to prepare SOP for adjournments, and more

The Hindu Morning Digest gives a select list of stories to start the day. Read the top news today on December 28, 2023

The Hindu

Appu Hotels out of insolvency process

NCLT approves Appu Hotels Ltd.'s settlement proposal to creditors, allowing them to resume hospitality business in Chennai & Coimbatore.

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