Articles for Nclt Ahmedabad

Interest Bearing Refundable Advance Paid Under An MoU Which Has Lost Legal Force Can Still Be Categorized As Financial Debt: NCLT Ahmedabad
1 year, 8 months ago

Interest Bearing Refundable Advance Paid Under An MoU Which Has Lost Legal Force Can Still Be Categorized As Financial Debt: NCLT Ahmedabad

Live Law  

The National Company Law Tribunal, Ahmedabad bench comprising of Dr. Madan B Gosavi and Mr. Ajai Das Mehrotra, while adjudicating an application under Section 60 of Insolvency and Bankruptcy Code, 2016 in Sheth Developers Pvt Ltd & Anr. as ‘Financial Debt’ Background Facts: Golden Tobacco Ltd. entered into an MoU dated 26.12.2009 with Sheth Developers Pvt. Further, there are differences …

Corporate Financial Corporate Debtor Debt Interest Tribunal Nclt
Monthly Digest Of IBC Cases: February 2023
1 year, 10 months ago

Monthly Digest Of IBC Cases: February 2023

Live Law  

NCLAT Case Title: Priyal Kantilal Patel v IREP Credit Capital Pvt. The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, has stayed the NCLT order dated 22.02.2023, whereby Corporate Insolvency Resolution Process was initiated against Zee Entertainment Enterprises Ltd. Zee Entertainment Enterprises Ltd. is an Indian media conglomerate owned by Essel Group, …

Law India Corporate National Gratuity Corporate Debtor Bank
Weekly Digest Of IBC Cases: 13 February To 19 February 2023
1 year, 10 months ago

Weekly Digest Of IBC Cases: 13 February To 19 February 2023

Live Law  

NCLAT Partial Payment Of PF & Gratuity Dues Violative Of Section 30 Of IBC: NCLAT Chennai Reiterates Case Title: Mrs. C.G. 924 of 2022 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Mr. Barun Mitra, has held that an application under Section 9 of IBC is not a suit and hence, the bar under …

Law Court Gratuity Bank Company Held Nclt
NCLT Ahmedabad Bench Re-Constituted W.E.F 15th FEBRUry 2023
1 year, 10 months ago

NCLT Ahmedabad Bench Re-Constituted W.E.F 15th FEBRUry 2023

Live Law  

The National Company Law Tribunal, Ahmedabad Bench, has been re-constituted vide a Circular dated 09.02.2023 issued by NCLT. Dr. Deepti Mukesh of NCLT Ahmedabad Bench is demitting office on 14.02.2023 on completion of her tenure. Therefore, the Bench is being re-constituted to take up the matters listed before Dr. Deepti Mukesh and Shri Ajai Das Mehrotra. The re-constituted NCLT Ahmedabad …

Ahmedabad Judicial Nclt Bench Member Judicial Member Nclt Ahmedabad
Once Bidder Accepts Corporate Debtor In Slump Sale, Can't Request For Conversion Of Sale Into Sale As A Going Concern: NCLT Ahmedabad
2 years, 4 months ago

Once Bidder Accepts Corporate Debtor In Slump Sale, Can't Request For Conversion Of Sale Into Sale As A Going Concern: NCLT Ahmedabad

Live Law  

The National Company Law Tribunal, Ahmedabad Bench, comprising of Shri Madan B Gosavi and Shri Kaushalendra Kumar Singh, while adjudicating a petition filed in State Bank of India & Anr. However, when no prospective buyers turned up to purchase the Corporate Debtor as a going concern, the Liquidator published a fresh notice dated 20.07.2021 declaring the slump sale of the …

Corporate Sale Corporate Debtor Nclt Going Bench Request
NCLT Ahmedabad Denies Approval Of Resolution Plan For Being Unimplementable
2 years, 5 months ago

NCLT Ahmedabad Denies Approval Of Resolution Plan For Being Unimplementable

Live Law  

The National Company Law Tribunal, Ahmedabad Bench, comprising of Justice Madan B. Gosavi and Shri Kaushalendra Kumar Singh, while adjudicating an application filed in IFCI Ltd. v Anil Mega Food Park Pvt. The Resolution Professional had invited the Expression of Interest / Resolution Plan from prospective resolution applicants for the Corporate Debtor. Consequently, the Resolution Professional had moved an application …

Corporate Resolution Professional Resolution Plan Road Bench Pvt Unit
Insolvency Law In Review – September 2020
4 years, 2 months ago

Insolvency Law In Review – September 2020

Live Law  

The enactment of the Insolvency and Bankruptcy Code 2016 has had significant ramifications on the corporate insolvency landscape. In SREI Equipment Finance Limited v. Rajeev Anand & Ors, the Supreme Court held that an admission made in a counter affidavit of the Corporate Debtor, in a prior S.7 application, can be relied upon by the creditor in future S.7 applications …

Law Supreme Court Corporate Insolvency Resolution Application Order
NCLT Notifies Transfer Of 3 Members With Immediate Effect [Read Notification]
4 years, 7 months ago

NCLT Notifies Transfer Of 3 Members With Immediate Effect [Read Notification]

Live Law  

The National Company Law Tribunal on Tuesday notified the transfer of three of its Members with immediate effect. HP Chaturvedi, Member - NCLT Ahmedabad to NCLT Mumbai 2. MB Gosavi, Member - NCLT Kolkata to NCLT Ahmedabad 3. Rajasekhar VK, Member - NCLT Mumbai to NCLT Kolkata The members are expected to move to their new stations of posting after …

Transfer Judicial Nclt Members Immediate Effect Member Nclt Kolkata
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 …

Ahmedabad Insolvency Company Nclt Nclat Offshore Insolvency Proceedings
ArcelorMittal nears India foray as NCLT clears Essar Steel takeover
5 years, 10 months ago

ArcelorMittal nears India foray as NCLT clears Essar Steel takeover

Live Mint  

After over a year of legal wrangles with bidders, courts and banks, the Ahmedabad bench of National Company Law Tribunal on Friday approved ArcelorMittal’s resolution plan for debt-laden Essar Steel Ltd. ArcelorMittal, in a joint venture with Japan’s Nippon Steel & Sumitomo Metal Corp., has offered an upfront cash settlement of ₹42,000 crore to lenders and a ₹8,000 crore capital …

India Steel Company Crore Nclt Plant Offer
NCLAT extends deadline for NCLT Ahmedabad to decide on Essar Steel insolvency case by Feb 19
5 years, 10 months ago

NCLAT extends deadline for NCLT Ahmedabad to decide on Essar Steel insolvency case by Feb 19

The Hindu  

The National Company Law Appellate Tribunal on Tuesday granted a week more time to NCLT Ahmedabad to decide over the ₹42,000 crore resolution plan submitted by ArcelorMittal for the debt ridden Essar Steel. During the hearing, the NCLAT was informed that Ahmedabad Bench has completed hearing on operational creditors plea and is scheduled to hear suspended Essar directors later in …

Steel Nclt Nclat Essar Essar Steel Nclt Ahmedabad
NCLT to decide on Essar Steel shareholders’ proposal by 31 January
6 years ago

NCLT to decide on Essar Steel shareholders’ proposal by 31 January

Live Mint  

Ahmedabad: The Ahmedabad bench of the National Company Law Tribunal said Monday it will pronounce before 31 January its order on a petition filed by Essar Steel shareholders for submission of its proposal to settle dues worth ₹ 54,389 crore. The pronouncement comes after observations made by the National Company Law Appellate Tribunal, which had last week asked NCLT Ahmedabad …

Ahmedabad Proposal Steel Nclt Arcelormittal Essar 31 January