NCLT Ahmedabad Admits Insolvency Proceedings Against Anil Ambani Group Company
5 years, 4 months ago

NCLT Ahmedabad Admits Insolvency Proceedings Against Anil Ambani Group Company

Live Law  

The National Company Law Tribunal bench of Ahmedabad has ordered initiation of insolvency proceedings against 'RMOL Engineering and Offshore Ltd', belonging to Anil Dirubhai Ambani Group. Notably, in view of series of adjournments granted by NCLT Ahmadabad, IFCI was constrained to file an Appeal before the National Company Law Appellate Tribunal Delhi. In appeal, the NCLAT, passed a scathing order as follows : "In the facts and circumstances, we give last opportunity to Mr. Harihar Prakash Chaturvedi, and Ms. Manorama Kumari,, Adjudicating Authority, Ahmedabad Bench, Ahmedabad to pass final order by 21st August, 2019 failing which the matter will be referred to the 'President, National Company Law Tribunal, New Delhi and the Secretary, Ministry of Corporate Affairs for appropriate orders." In view of the direction NCLT Ahmedabad conducted day to day hearing and today has passed the order of insolvency proceedings against RMOL.

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History of this topic

NCLAT Stays Insolvency Proceedings Against Zee; Final Hearing On March 29
1 year, 10 months ago

NCLAT Stays Insolvency Proceedings Against Zee; Final Hearing On March 29

News 18  

The National Company Law Appellate Tribunal on Friday stayed the insolvency proceedings against media major Zee Entertainment Enterprises Ltd. Admitting a plea by ZEEL Managing Director and chief executive Punit Goenka, a two-member NCLAT bench stayed the order passed by the Mumbai bench of the National Company Law Tribunal. On Wednesday, NCLT admitted a insolvency plea against ZEEL by private …

NCLT initiates insolvency proceedings against OYO arm; Co files appeal
3 years, 9 months ago

NCLT initiates insolvency proceedings against OYO arm; Co files appeal

Hindustan Times  

The National Company Law Tribunal has directed to start insolvency proceedings against OYO Hotels and Homes Pvt Ltd on March 30, according to a public announcement by the interim resolution professional. The creditors of OYO Hotels and Homes Pvt Ltd are called upon to submit their claims with proofs on or before April 15, 2021, to the interim resolution professional, …

SC rejects SBI plea for resuming insolvency proceedings against Anil Ambani; matter listed for 6 Oct
4 years, 3 months ago

SC rejects SBI plea for resuming insolvency proceedings against Anil Ambani; matter listed for 6 Oct

Firstpost  

The State Bank of India had moved the apex court to recover Rs 1,200 crore that it had loaned to two firms of the then-chairman of Reliance Communications New Delhi: The Supreme Court Thursday dismissed a plea by State Bank of India seeking resumption of insolvency proceedings against the then chairman of Reliance Communications, Anil Ambani, to recover Rs 1,200 …

SC Rejects SBI Plea for Resuming Insolvency Proceedings Against Anil Ambani
4 years, 3 months ago

SC Rejects SBI Plea for Resuming Insolvency Proceedings Against Anil Ambani

News 18  

The Supreme Court Thursday dismissed a plea by State Bank of India seeking resumption of insolvency proceedings against the then chairman of Reliance Communications, Anil Ambani, to recover Rs 1,200 crore loan granted to his two firms. The top court refused to vacate the stay granted by the Delhi High Court by its interim order on the personal insolvency proceedings …

Home Buyers Cannot Invoke Insolvency Proceedings For Recovery Of RERA Award: NCLAT [Read Order]
4 years, 4 months ago

Home Buyers Cannot Invoke Insolvency Proceedings For Recovery Of RERA Award: NCLAT [Read Order]

Live Law  

The National Company Law Appellate Tribunal allowed an appeal filed by Sushil Ansal, former Director and shareholder of Ansal Properties and Infrastructure Limited setting aside the National Company Law Tribunal, Delhi bench March 17 order for the initiation of insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016. Stressed Assets Stabilisation Fund and Ors.- MANU/NL/0092/2020 observed that …

NCLAT Sets Aside Insolvency Proceedings against Ansal Properties and Infrastructure
4 years, 4 months ago

NCLAT Sets Aside Insolvency Proceedings against Ansal Properties and Infrastructure

News 18  

The National Company Law Appellate Tribunal on Friday set aside the insolvency proceedings against Ansal Properties and Infrastructure Ltd and ruled that the management of the company be handed over back to its board. The appellate tribunal set aside the orders of the Delhi bench of the National Company Law Tribunal, which had on March 17 directed to initiate insolvency …

NCLAT Dismisses HDIL's Appeal; Gives Go Ahead To Initiate Insolvency Proceedings
4 years, 5 months ago

NCLAT Dismisses HDIL's Appeal; Gives Go Ahead To Initiate Insolvency Proceedings

Live Law  

The National Company Law Appellate Tribunal has upheld the order passed by NCLT, Mumbai Bench, against the real estate giant Housing Development & Infrastructure Limited for initiation of insolvency proceedings under the Insolvency and Bankruptcy Code 2016. Dismissing the appeal filed by HDIL's Promoter Rakesh Wadhwan, the Principal bench observed that the corporate debtor's claim was erroneous and it had …

Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May
5 years, 8 months ago

Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May

Firstpost  

At the last hearing, RCom had sought 357 days exclusion in the insolvency process citing the stays it had on the process by the NCLAT and the Supreme Court. Mumbai: The National Company Law Tribunal on Thursday allowed Reliance Communications to exclude the 357 days spent in litigation and admitted it for insolvency. With this, RCom, which owes over Rs …

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