Public sector lender Punjab National Bank (PNB) has moved the Insolvency appellate tribunal NCLAT against the approval of bids for defunct airline Jet Airways. The National Company Law Appellate Tribunal (NCLAT) bench has issued a notice over the PNB’s petition along with its interim plea seeking a stay over the execution of the resolution plan.

Jet Airways staffers have moved the National Company Law Appellate Tribunal (NCLAT) challenging certain aspects of the Kalrock-Jalan consortium’s resolution plan that was approved by the National Company Law Tribunal (NCLT) on June 22. The staffers also did not approve the compensation offered by the consortium with little over 3,000 (35%) of the nearly 9,000 … Continue reading Jet Airways employees move NCLAT over compensation

The National Company Law Appellate Tribunal (NCLAT) has stayed the sale of the Videocon group of companies to Vedanta’s Twin Star Technologies. Bank of Maharashtra (BoM), which has a small portion of the loan amount, had appealed against the order under which creditors were to get around 4% of the admitted claims of Rs 64,838 … Continue reading NCLAT stays Videocon sale to Vedanta on BoM appeal

The National Company Law Appellate Tribunal (NCLAT) has closed the insolvency proceedings against Oyo and its subsidiary Oyo Hotels and Homes (OHHPL). The tribunal’s order disallowed the intervention of external parties, including the Federation of Hotel & Restaurant Associations of India (FHRAI), in the matter.

The Supreme Court on Wednesday stayed the March 4 order of National Company Law Appellate Tribunal (NCLAT) asking fair trade regulator CCI to again initiate the probe against e-commerce major Flipkart for an alleged use of its dominant position.

The National Company Law Appellate Tribunal (NCLAT) on Thursday approved resolution framework for troubled IL&FS Group and sought the conclusion of resolution of all the entities, preferably within 90 days, while also clearing the formula for distribution of the sale proceeds to clear liabilities that add up to Rs 91,000 crore.

Following the NCLAT order last week to begin a probe into Flipkart for abuse of its dominant position, the All India Online Vendors Association (AIOVA) has filed a caveat in the SC against the Walmart-owned e-tailer. The move by AIOVA, the group representing small e-vendors, comes in anticipation of Flipkart challenging the NCLAT order in … Continue reading Flipkart probe: E-vendor group files caveat in SC

The Supreme Court on Friday stayed the NCLAT decision to restore Cyrus Mistry as executive chairman of the Tata Group. Tata Sons Private Ltd had challenged the December 18 decision of the National Company Law Appellate Tribunal that gave a big relief to Cyrus Investment Pvt Ltd and Mistry, restoring him as the executive chairman … Continue reading Supreme Court stays NCLAT order on Cyrus Mistry