The National Company Law Appellate Tribunal, Principal Bench comprising of Justice Ashok Bhushan, Dr. Alok Srivastava and Ms. Shreesha Merla while dismissing the Appeal filed by Mr. Praful Nanji Satra vs Vistra ITCL Limited and Ors, had upheld the Adjudicating Authority's order for initiating corporate insolvency resolutions process against Satra Properties and sends the company in to insolvency. Since the …
The committee of creditors to Dewan Housing Finance Corp. Ltd has overwhelmingly rejected a proposal to increase recoveries for smaller investors, including fixed deposit and debenture holders. Meanwhile, fixed depositors plan to challenge the approval of the Piramal group’s resolution plan in the National Company Law Appellate Tribunal. Lenders rejected the proposal with a majority of 89.19% at Tuesday’s vote, …
