17 stories found
The National Company Law Tribunal has assembled a five-member panel to adjudicate the complex insolvency proceedings surrounding media tycoon Subhash Chandra. The expanded bench will address creditor claims following significantly lower-than-expected asset recoveries in the Indiabulls restructuring.
Union Bank, Canara Bank, and LIC Housing Finance intend to challenge the National Company Law Tribunal’s recent approval of media executive Subhash Chandra’s insolvency resolution plan. The creditors argue that the proposed repayment terms do not adequately protect their financial interests.
The National Company Law Tribunal has cleared a Rs 6.5 crore settlement payment from media mogul Subhash Chandra, which will help resolve his company's outstanding liabilities of over Rs 22,000 crore following a nearly 99.97% haircut.
India's Supreme Court has issued a warning against the unchecked use of artificial intelligence in courts, emphasizing the catastrophic potential after the National Company Law Tribunal (NCLT) cited fake cases generated by AI.
India's Supreme Court has highlighted the 'grim' state and poor functioning of the National Company Law Tribunals (NCLT), citing staff shortages, inadequate infrastructure, and reliance on contractual employees, stating that a 'war footing' approach is needed.
Vedanta has challenged the National Company Law Tribunal's (NCLT) approval of Adani's bid to acquire Jaiprakash Associates.
The National Company Law Tribunal faces internal disagreements over approving a ₹22,000 crore debt reduction for media mogul Subhash Chandra, potentially requiring a third member to break the deadlock.
The National Company Law Tribunal's ruling significantly lowering Subhash Chandra's financial responsibility in an insolvency case has triggered intense political backlash from the Congress party.
The National Company Law Tribunal (NCLT) has permitted a lessor to withdraw its plea in the SpiceJet insolvency case, while also imposing a fine on both Aviator ML and SpiceJet.
Justice Anupinder Grewal has been named the new president of the National Company Law Tribunal (NCLT), an appointment noted for breaking conventional practices.
The High Court in India has issued a notice in response to a petition challenging the appointment of a judicial member as the acting president in the National Company Law Tribunal (NCLT).
Adani's resolution plan for Jaiprakash Associates has received approval from the National Company Law Tribunal (NCLT), marking a significant development in the corporate restructuring.
State-owned lenders Union Bank and Canara Bank have announced plans to challenge a recent National Company Law Tribunal ruling concerning the Chandra case, signaling continued legal disputes over corporate debt or restructuring.
The National Company Law Tribunal approved a drastic reduction in media executive Subhash Chandra's personal debt from over Rs 22,000 crore to Rs 6.5 crore, marking a pivotal step in his insolvency proceedings.
India's Supreme Court has declared that AI-generated precedents are 'catastrophic' for the justice system, citing a National Company Law Tribunal judgment that referenced several hallucinated legal precedents.
The Supreme Court of India has taken suo motu cognizance of the delays in the approval of resolution plans by the National Company Law Tribunal (NCLT).
India's National Company Law Tribunal (NCLT) has permitted the withdrawal of insolvency proceedings against ATS Heights Private Limited, which were initially admitted on April 22, 2024, and are related to ATS Knightsbridge.