The National Company Law Appellate Tribunal (NCLAT), Chennai, has upheld an order of the Kochi Bench of the National Company Law Tribunal (NCLT) directing two suspended directors of. to jointly and severally repay ₹1.20 crore to the liquidation estate on finding that they fraudulently diverted the said amount via unauthorised accounts. The liquidation proceedings arose…
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has dismissed appeals filed by UCO Bank challenging the rejection of its claim in the Corporate Insolvency Resolution Process (CIRP) and the subsequent approval of the resolution plan. The Tribunal ruled that loans sanctioned by UCO Bank to homebuyers under Tripartite Agreements did not…
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Journalists at Al-Bawaba News on strike at the newspaper’s headquarters via Facebook Managers at Al-Bawaba News informed its journalists on Sunday that it intends to liquidate the company, a managing editor at the website told Mada Masr on condition of anonymity. The notification came as journalists continued the open strike they began at the…
Appeal court upholds Cytonn liquidation to recover Sh11bn assets Business Daily Read the original article here
Insider reports reveal that the company’s Mumbai office has been shuttered since last year, with the bulk of its workforce having departed. In a pivotal ruling, the National Company Law Tribunal (NCLT) Mumbai Bench-VI has placed Planet Marathi Seller Services Private Limited (PMSSPL) into the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy…
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has affirmed the dismissal of appeals filed by the appellants against the rejection of their claims in the corporate insolvency resolution process (CIRP) of Monarch Brookfields LLP. The appellants had challenged orders of the National Company Law Tribunal (NCLT), Mumbai, which refused to admit…