The committee of lenders (COC) of LancoInfratech (LIPL) determined to are searching for an extension of time from National Company Law Tribunal (NCLT) to complete the continuing insolvency decision process as the lenders need to have a full clarity on feasible situations of decision. “The COC had held a meeting on Monday and determined to … Continue reading “Lanco lenders to searching for time extension to complete insolvency process”
In a landmark judgement which may assist different promoters who are combating to defend their organizations, Mumbai-primarily based laminates maker Shirdi Industries has come to be the first case where a National Company Law Tribunal (NCLT) exceeded an order that allowed the corporation to be surpassed over to the same promoters for implementing the decision … Continue reading “NCLT gives Shirdi Industries to promoters, offers hope to others”
With the closure of Reserve Bank of India’s (RBI) deadline to resolve the 28 identified large stressed accounts in the second list, banks are gearing up to
Section 164 of the Companies Act, 2013, provides the events which result in disqualification of directors. For those director who had been disqualified
The corporate affairs ministry has now sought time till Wednesday to respond and take instructions on how to protect home buyers’ interest. Supreme Court NEW DELHI: The Supreme Court on Tuesday asked the Centre why it did not take permission to move the National Company Law Tribunal (NCLT) to take over management of Unitech when the apex court … Continue reading “Unitech Case: SC raps Centre on moving NCLT without permission”
The Real Estate Regulation and Development Act (RERA) should have been enacted earlier to check the malpractices of builders, Prime Minister Narendra Modi said on Wednesday, following the Supreme Court’s stay on an NCLT order suspending real estate major Unitech directors and allowing the government to appoint its nominees in their place.
New Delhi: The Supreme Court on Wednesday stayed an order of the National Company Law Tribunal (NCLT) that allowed the government to take control of troubled builder Unitech Ltd by suspending its board. “NCLT should not have passed the order. We direct the stay of the order dated 8 December,” said Chief Justice Dipak Misra. The … Continue reading “Supreme Court stays NCLT order allowing government to take control of Unitech”
New Delhi: The Supreme Court on Thursday refused to grant extension of time to Jaiprakash Associates Ltd (JAL) to deposit Rs125 crore. The amount is to be deposited by the end of this month. JAL was seeking time until 31 January to deposit Rs125 crore. As of now, the company’s liability is Rs1,525 crores. “Comply with … Continue reading “SC refuses to grant more time to Jaiprakash Associates for depositing Rs125 crore.”
The relevant documents which are required to be filed are ready with the company and company is willing to file the same, if so permitted. Further, accounts of the company are audited and have been approved by the members within the prescribed time. The company has not deposited heavy cash during the demonetization period i.e. … Continue reading “ROC’s no objection to restoration of Companies”
The State Government of Uttar Pradesh has beefed up to provide abetment to the bankrupt homebuyers who have invested their life’s saving.
The Reserve Bank of India surprised the banks on Friday night. For the cases being taken to the banker’s court, the RBI has made huge increase in provisioning. This may result in a jerk of Rs 50,000 crore in the financial year 2018. Two bankers aware of the RBI order have said this.
NCLT has constituted an Internal Complaints Committee in terms of Section 4 of the Sexual Harassment of Women (Prevention, Prohibition and Redressal) Act, 2013 for all benches of National Company Law Tribunal for a period of three years. The Committee shall constitute of 4 Members with Ms. Ina Malhotra, Member (Judicial) acting as the presiding … Continue reading “Internal Complaints Committee of NCLT”
As per the provisions mentioned in the Companies Act 2013, a director of a company can be disqualified for five years from the directorship of his/her company and also banned from joining any other organization as a director if his/her current organization fails to submit their financial statement for three years consecutively.
The grievance against NCLAT pertained to the pre-installation of certain apps promoted by Google within the Operating System which could not be removed by the user.
The lease premium and rent given to the Corporate Debtor are not included in Section 14(1)(D) of the Insolvency and Bankruptcy Code, 2016.
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