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NBCC to complete 16 stalled Supertech projects; 10 things homebuyers should know
1 week, 4 days ago

NBCC to complete 16 stalled Supertech projects; 10 things homebuyers should know

Hindustan Times  

In a move that will bring relief to almost 50,000 buyers, the National Company Law Appellate Tribunal has appointed the government’s construction arm NBCC as a project management consultant to complete real estate company Supertech Ltd's 16 projects that have been delayed in Uttar Pradesh, Uttarakhand, Haryana and Karnataka. NCLAT has appointed the government’s construction arm NBCC as a project …

Karnataka Construction Court Uttar Pradesh Haryana Uttarakhand Order
NCLAT appoints NBCC as consultant to complete Supertech's 16 housing projects in UP, Uttarakhand, Haryana and Karnataka
1 week, 5 days ago

NCLAT appoints NBCC as consultant to complete Supertech's 16 housing projects in UP, Uttarakhand, Haryana and Karnataka

Hindustan Times  

In a move that will bring relief to thousands of homebuyers, the National Company Law Appellate Tribunal has appointed the government’s construction arm NBCC as a project management consultant to complete real estate company Supertech Ltd's 16 real estate projects in Uttar Pradesh, Uttarakhand, Haryana and Karnataka at a cost of almost ₹9,500 crore. National Company Law Appellate Tribunal has …

Karnataka Court Uttar Pradesh Haryana Uttarakhand Projects Project
Insolvency Professional Entities Qualified To Be Appointed As Resolution Professionals: NCLT Mumbai
5 months ago

Insolvency Professional Entities Qualified To Be Appointed As Resolution Professionals: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai bench of Shri Sanjiv Dutt and Shri K.R. The NCLT held that the Insolvency and Bankruptcy Board of India has the authority to regulate and recognize IPEs as resolution professionals, despite the IBC not explicitly mentioning them as professional service providers. The CoC clarified that although the IBC prima facie recognises only three entities …

Board Insolvency Resolution Regulations Resolution Professional Professional Professionals
Insolvency process begins against Supertech Goup’s Supernova project in Noida
6 months, 1 week ago

Insolvency process begins against Supertech Goup’s Supernova project in Noida

Hindustan Times  

The National Company Law Tribunal has initiated corporate insolvency resolution process against Supertech Group’s subsidiary Supertech Realtors Private Limited, which is developing a commercial tower at the Supernova project in Noida, Sector 94, after it failed to pay a debt of ₹150 crore to the Bank of Maharashtra, in pursuance to an order issued by the NCLT on June 12. …

Corporate Insolvency Bank Supernova Noida Nclt Tower Irp
NCLT Bengaluru Admits Charter Aircraft Service Provider 'Deccan Charters' Into Insolvency
8 months, 2 weeks ago

NCLT Bengaluru Admits Charter Aircraft Service Provider 'Deccan Charters' Into Insolvency

Live Law  

The National Company Law Tribunal, Bengaluru Bench, comprising of Shri K. Biswal and Shri Manoj Kumar Dubey, has admitted Deccan Charters Pvt. Deccan Charters is a Bengaluru based company which operates chartered helicopters and fixed wing aircrafts and also provides services such as aircraft maintenance, aircraft management and aviation training. In 2017, Shaishav Shah & Family and Himanshu Shah & …

Business Corporate Aircraft Nclt Bench Charter Bta
Go Airlines| NCLT Delhi Permits Go Airlines To Resume Operations
1 year, 4 months ago

Go Airlines| NCLT Delhi Permits Go Airlines To Resume Operations

Live Law  

The National Company Law Tribunal, New Delhi Bench, comprising of Shri Mahendra Khandelwal and Shri Rahul Bhatnagar, while adjudicating a petition filed by Go Airlines Limited, has permitted Go Airlines to operate the leased aircrafts in order to maintain the company’s status as a going concern. Accordingly, the Lessors filed an application under Section 60 of IBC before the NCLT …

Corporate Aircraft Airlines Order Nclt Bench Irp
Delhi High Court To Hear On Monday Appeal Against Order Permitting Lessors To Carry Out Maintenance Of Aircrafts On Lease With Go First
1 year, 5 months ago

Delhi High Court To Hear On Monday Appeal Against Order Permitting Lessors To Carry Out Maintenance Of Aircrafts On Lease With Go First

Live Law  

The Delhi High Court will hear on Monday the challenge against a single judge order permitting various lessors to carry out inspection and interim maintenance tasks of their aircrafts, which are currently on lease with crisis-hit Go First airline, twice a month until final disposal of their pleas to de-register their planes from the airline.Senior Advocate Sandeep Sethi mentioned the. …

Court Aircraft Delhi High Court Lease Nclt Limited Irp
IBC Cases Weekly Round-Up : June 6 To June 12, 2022
2 years, 6 months ago

IBC Cases Weekly Round-Up : June 6 To June 12, 2022

Live Law  

NCLAT NCLT Has Power To Recall Its Order: NCLAT Case Title: Printland Digital Pvt. The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Naresh Salecha, has terminated the Corporate Insolvency Resolution Process of Kanoria Sugar and General Manufacturing Co. Ltd., which was initiated by NCLT vide an order dated 27.04.2022. 58 of 2022 The …

Corporate Insolvency National Order Company Judicial Tribunal
NCLAT Limits Supertech's Insolvency Process To One Project
2 years, 6 months ago

NCLAT Limits Supertech's Insolvency Process To One Project

Live Law  

The National Company Law Appellate Tribunal principal bench comprising of Justice Ashok Bhushan and Mr. Naresh Salecha has modified its stay order on constitution of Committee of Creditors of Supertech Ltd. and limited the Corporate Insolvency Resolution Process of Supertech to one project i.e., Eco Village II. Earlier, the NCLAT vide its order dated 12.04.2022 while granting time to the …

India Supreme Court Resolution Bank Union Project Nclat
Adjudicating Authority Cannot Substitute Any Commercial Term Of Resolution Plan Approved By Committee Of Creditors: Supreme Court
3 years, 9 months ago

Adjudicating Authority Cannot Substitute Any Commercial Term Of Resolution Plan Approved By Committee Of Creditors: Supreme Court

Live Law  

The Supreme Court observed that adjudicating authority cannot substitute any commercial term of the resolution plan approved by Committee of Creditors. If, within its limited jurisdiction, the Adjudicating Authority finds any shortcoming in the resolution plan vis-à-vis the specified parameters, it would only send the resolution plan back to the Committee of Creditors, for re-submission,. If, within its limited jurisdiction, …

Supreme Court Court Resolution Resolution Plan Term Plan Committee