New Delhi, Nov 27 (KNN) In a pivotal decision, the National Company Law Appellate Tribunal (NCLAT) Delhi has dismissed the petition seeking to initiate insolvency proceedings against Amazon Wholesale (India). The appellate tribunal upheld the earlier ruling by the National Company Law Tribunal (NCLT), which in March 2023 had rejected the insolvency plea filed by Multiplier…
SolarZero hits a big BlackRock BusinessDesk Read the original article here
Raheja Developers filed an appeal with the National Company Law Appellate Tribunal (NCLAT) to contest the initiation of insolvency proceedings against the company due to defaults related to the non-delivery of its Shilas project in Gurugram. This follows the Principal Bench of the National Company Law Tribunal (NCLT) admitting a petition from over 40 flat…
Highlights Satish Kumar Gupta has been appointed as the liquidator of Jet Airways India Limited. The NCLT has lifted the moratorium imposed on Jet Airways. The NCLT has ordered the liquidation of Jet Airways, following a plea by the Jet Airways Cabin Crew Association. The National Company Law Tribunal, Mumbai has appointed Satish Kumar Gupta…
Xiaodi Hou, the co-founder and former CEO of self-driving truck startup TuSimple, is demanding that the board immediately liquidate the company and return all remaining funds – roughly $450 million – to shareholders “on a pure pro-rata basis, regardless of share class,” according to a letter that TechCrunch has viewed. Hou is also suing TuSimple…
Australia Post is changing the way it negotiates with its small business licensees, after quietly liquidating the advisory forum it has used for more than 20 years. The government-owned postal giant now says it will ‘reinvigorate’ its relationship to thousands of licensed post office (LPO) operators. But some industry representatives fear it won’t do enough…
Chennai: A total of 40,943 cases have been filed with National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, till 30 September, 2024. Of this, 1068 cases under Corporate Insolvency Resolution Process were resolved and have realised Rs 3.55 lakh crore. Of the total 40,943 cases filed with NCLT, 2336 cases were filed…
SolarZero customers told to keep calm and carry on BusinessDesk Read the original article here
The NCLT Kolkata bench of Ms. Bidisha Banerjee (Judicial Member) and Shri Arvind Devanathan (Technical Member) have held that mere possession over assets of the corporate debtor under the SARFAESI Act does not prevent the financial creditor from preferring an application under section 7 of the IBC. Brief Facts The Corporate Debtor Roadwings International Pvt.…
The National Company Law Appellate Tribunal (NCLAT), Chennai bench of Justice Sharad Kumar Sharma (Judicial Member) and Mr Jatindranath Swain (Technical Member) allowed the impleadment application filed by an Operational Creditor, on the ground that its application to initiate CIRP proceedings against the Corporate Debtor were closed due to initiation of CIRP by another creditor.…