Tag: National Company Law Tribunal

National Company Law Tribunal admits Aban Offshore under insolvency process

Posted on By admin
National Company Law Tribunal admits Aban Offshore under insolvency process

Image used for representation purpose only. The National Company Law Tribunal (NCLT), Chennai, on Monday (September 1, 2025) admitted Aban Offshore Ltd. for insolvency resolution, following a petition filed by Punjab National Bank. The order copy is awaited, Aban Offshore said in a filing to the stock exchange. Punjab National Bank, a financial creditor, had…

Read More “National Company Law Tribunal admits Aban Offshore under insolvency process” »

Business

BCCI tells NCLT that it will move application for withdrawal of insolvency plea against Byju’s

Posted on By admin
BCCI tells NCLT that it will move application for withdrawal of insolvency plea against Byju’s

A view of the BCCI headquarters in Mumbai. The BCCI told the National Company Law Tribunal (NCLT), Bengaluru that it would move an application for withdrawal of its insolvency plea against ed-tech firm Byju’s. | Photo Credit: The Hindu The Board of Control for Cricket in India (BCCI) on Tuesday (November 12, 2024) told the…

Read More “BCCI tells NCLT that it will move application for withdrawal of insolvency plea against Byju’s” »

Business

NCLT directs to initiate insolvency proceedings against Syska LED Lights

Posted on By admin
NCLT directs to initiate insolvency proceedings against Syska LED Lights

The Mumbai bench of NCLT has appointed Debashis Nanda as the interim resolution professional suspending the board of Syska LED Lights, as per the provisions of the Insolvency & Bankruptcy Code (IBC). | Photo Credit: Getty Images/iStockphoto The National Company Law Tribunal (NCLT) has been directed to initiate insolvency proceedings against Syska LED Lights, admitting the…

Read More “NCLT directs to initiate insolvency proceedings against Syska LED Lights” »

Business

SpiceJet Gets Notice From Law Tribunal Over Insolvency Plea From Operational Creditor

Posted on By admin
SpiceJet Gets Notice From Law Tribunal Over Insolvency Plea From Operational Creditor

SpiceJet is already facing several insolvency petitions from creditors. New Delhi: The National Company Law Tribunal (NCLT) on Monday issued notice to debt-ridden air carrier SpiceJet over the plea filed by one of its operational creditors. A two-member NCLT bench, comprising Mahendra Khandelwal and Sanjeev Tanjan, has directed Spicejet to file a reply and list…

Read More “SpiceJet Gets Notice From Law Tribunal Over Insolvency Plea From Operational Creditor” »

Nation

NCLT approves slice and North East Small Finance Bank’s Merger

Posted on By admin
NCLT approves slice and North East Small Finance Bank’s Merger

Rajan Bajaj, Founder and CEO, slice | Photo Credit: The Hindu slice, India’s leading consumer payments and lending company has received approval from the National Company Law Tribunal (NCLT) for its merger with North East Small Finance Bank (NESFB). The NCLT, Guwahati bench, has sanctioned the Scheme of Arrangement and Amalgamation involving Garagepreneurs Internet Private…

Read More “NCLT approves slice and North East Small Finance Bank’s Merger” »

Business

Resolution plan at implementation stage; FY24 results delayed: Jet Airways

Posted on By admin
Resolution plan at implementation stage; FY24 results delayed: Jet Airways

Image for representation. File | Photo Credit: K. Pichumani Jet Airways on May 30 said there will be a delay in declaring the financial results for the quarter and year ended March 2024, and its monitoring committee expected to meet shortly to consider the results. “We wish to state that currently the approved resolution plan…

Read More “Resolution plan at implementation stage; FY24 results delayed: Jet Airways” »

Business

Zee seeks $90 million termination fee from Sony for calling off merger

Posted on By admin
Zee seeks million termination fee from Sony for calling off merger

ZEEL has, on account of Culver Max’s and BEPL’s breaches under the Merger Cooperation agreement, terminated the MCA by issuing a letter dated May 23, 2024.  | Photo Credit: Reuters Zee Entertainment Enterprises has sought a termination fee of $90 million (around ₹748.7 crore) from the Sony Group for calling off the $10 billion merger…

Read More “Zee seeks $90 million termination fee from Sony for calling off merger” »

Business

ZEE-Sony merger: NCLT issues notice to Sony

Posted on By admin
ZEE-Sony merger: NCLT issues notice to Sony

Zee Entertainment and SONY logos are displayed in this illustration taken, September 1, 2022. | Photo Credit: Reuters The National Company Law Tribunal (NCLT) on Tuesday accepted a petition by a Zee Entertainment shareholder seeking the merger of its Indian entity with Sony, which was called off last week despite regulatory approvals. The Mumbai-bench of…

Read More “ZEE-Sony merger: NCLT issues notice to Sony” »

Business

Law Tribunal Suggests SpiceJet Settle Issues With Aircraft Lessors

Posted on By admin
Law Tribunal Suggests SpiceJet Settle Issues With Aircraft Lessors

The NCLT is scheduled to hear pleas of all SpiceJet lessors on September 15. New Delhi: Crisis-hit carrier SpiceJet can settle issues with lessors that have sought initiation of insolvency proceedings against it, the National Company Law Tribunal has suggested. The tribunal’s suggestion came amid Spicejet’s move to issue shares in lieu of dues to…

Read More “Law Tribunal Suggests SpiceJet Settle Issues With Aircraft Lessors” »

Nation