New Delhi, May 4 (IANS) Adani Group’s resolution plan for Jaiprakash Associates Limited (JAL) has received approval from the National Company Law Appellate Tribunal (NCLAT), which dismissed Vedanta’s appeal challenging the process.A Bench comprising Chairperson Justice (Retd.) Ashok Bhushan and Technical Member Barun Mitra upheld the earlier order of the National Company Law Tribunal (NCLT), and said there were no grounds to interfere with the decision of the adjudicating authority.The tribuna…
Latest National Company Law Appellate Tribunal News & Updates
New Delhi, April 19 (IANS) The Insolvency and Bankruptcy Code (IBC) has fundamentally changed how business failures are handled in India by enabling timely resolution and restoring asset value, Sanjay Singhania, Vice President of PHD Chamber of Commerce and Industry (PHDCCI) said on Sunday.Speaking at “IBC Pulse: Trends, Transitions & Trajectories,” organised by PHDCCI at PHD House here, Singhania said that earlier, business failures were often delayed, leading to significant erosion of …
New Delhi, April 9 (IANS) Former Jaypee Group chairman Jaiprakash Gaur on Friday expressed confidence in the Adani Group’s takeover of Jaiprakash Associates Ltd (JAL), following “the fair and transparent process conducted by the Committee of Creditors.”“The Committee of Creditors has selected the Adani Group as the successful Resolution Applicant, and we fully respect this decision,” Gaur said in a statement.“I have every confidence that under the leadership of Gautam Adani, the lega…
New Delhi, April 6 (IANS) In a setback to Vedanta Group, the Supreme Court on Monday declined to stay the implementation of Adani Enterprises’ resolution plan for debt-ridden Jaiprakash Associates Ltd.A bench, led by Chief Justice (CJI) Surya Kant, noted that the insolvency proceedings are already listed for final hearing before the National Company Law Appellate Tribunal (NCLAT) on April 10, and therefore found no reason to intervene at this stage.”In view of the fact that company appeals are n…
New Delhi, March 29 (IANS) The National Company Law Appellate Tribunal (NCLAT) has dismissed appeals filed by the BSE, ruling that insolvency courts have the authority to order the defreezing of Demat accounts of companies undergoing insolvency proceedings.In its order, a two-member bench of the appellate tribunal said the National Company Law Tribunal (NCLT) has clear jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) to hear such matters and pass necessary directions….
Hyderabad, March 13 (IANS) Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao has demanded a probe by the Central agencies into the alleged irregular allocation of government contracts to KLSR Infratech Private Limited, a company, which he says is linked to Telangana Chief Minister Revanth Reddy as a benami entity.In a letter to Union Home Minister Amit Shah on Friday, he raised serious concerns over the deteriorating law and order situation in Telangana.In his letter, KTR alleged that…
New Delhi, Feb 23 (IANS) Messaging platform WhatsApp on Monday informed the Supreme Court that it will comply with the directions issued by the Competition Commission of India (CCI) requiring the platform to provide users greater control over whether their data is shared with other Meta companies. A special bench of Chief Justice of India (CJI) Surya Kant and Justices Joymalya Bagchi and Vipul M. Pancholi permitted WhatsApp and its parent company Meta Platforms to withdraw their interim applicat…
New Delhi, Feb 22 (IANS) The Supreme Court is set to hear on Monday the pleas filed by Meta Platforms and WhatsApp challenging a penalty of Rs 213.14 crore imposed on them by the Competition Commission of India (CCI) over their privacy policy.A bench led by Chief Justice of India Surya Kant, along with Justices Joymalya Bagchi and Vipul M Pancholi, is likely to take up the matter.Earlier, on February 3, the court made strong remarks against the two companies, saying they cannot “play with the …
New Delhi, Feb 3 (IANS) The Supreme Court on Tuesday expressed serious concern over WhatsApp’s 2021 privacy policy and the sharing of user data by its parent company Meta Platforms, observing that the platform cannot be allowed to “play with the right to privacy” of Indian users.The court’s remark came as a bench of Chief Justice of India (CJI) Surya Kant and Justices Joymalya Bagchi and Vipul Pancholi was hearing appeals filed by Meta Platforms and WhatsApp LLC against a National Company Law …