The National Company Law Tribunal (NCLT)-Mumbai on Tuesday issued a notice to real estate giant Shapoorji Pallonji & Co. Pvt. Ltd (SPCPL), seeking its response to an insolvency plea over an alleged default of ₹2.72 crore. Chennai-based Intertouch Metal Buildings Pvt. Ltd, a roofing and cladding firm, has pleaded that it hasn’t received payments for … Read more
New Delhi, Feb 9 (PTI) In a rare move, NCLT has recalled and set aside its own order directing insolvency proceedings against realty firm Logix Infrastructure in July 2023, saying the plea was initiated with “fraudulent and mala fide intentions” and a collusive petition was filed by the financial creditor. NCLT said “there is a … Read more
2025-01-31 13:44:00 : The National Corporation’s Law Court (NCLAT) requires busy Busy Bee Airways to bid first. This is a bidder that first approaches the airline’s lender and negotiates an agreement to acquire the continuous problem of the airline. This is after the busy Bee Airways told NClat, it can still be obtained first, and … Read more
2025-01-29 15:26:00 : The National Corporation’s Law Court (NCLT) ordered the temporary resolution professionals (IRP) of BJYU on Wednesday. The bankruptcy court also instructed India’s bankruptcy and bankruptcy committee (IBBI) to discipline IRP to IRP, and dissolved the creditors committee (COC) composed of IRP. NCLT’s Bangalore substitutes passed the order through Byju’s lenders, Glass Trust … Read more