New Delhi: The National Company Law Appellate Tribunal (NCLAT) will hear a plea made by Jalan Kalrock Consortium (JKC), the successor to Jet Airways management, on May 22. JKC is seeking directions to prevent the State Bank of India (SBI) from invoking its bank guarantee of Rs 175 crore, media reports said.
The Interim Resolution Professional (IRP) of Go First Abilash Lal has informed the National Company Law Tribunal (NCLT) that the financially strained airline has incurred disproportionate liabilities due to the grounding of its aircraft, Moneycontrol reported.
'Absolutely no question of filing for insolvency': SpiceJet CEO Ajay Singh on insolvency rumours
New Delhi: Budget airline SpiceJet has said that it is implementing measures to restore its grounded fleet by utilizing the $50 million received from the government's Emergency Credit Line Guarantee Scheme (ECLGS) along with internal cash accruals. The company aims to dispel any rumors of insolvency.
Go First may start services soon after NCLT approves insolvency plea: Report
Mumbai: Cash-strapped budget carrier Go First may resume regular flights soon as it plans to go business as usual after the National Company Law Tribunal (NCLT) gave its nod to the company’s insolvency plea, paving the way for the airline’s revival.
NCLT approves merger of HDFC and HDFC Bank
The National Company Law Tribunal (NCLT) gave its approval for the merger of HDFC and HDFC Bank, which is considered to be the largest merger in corporate history.
Future Enterprises declared insolvent, to be auctioned off
Mumbai: After Future Retail, another Kishore Biyani-owned company, Future Enterprises, has been admitted to insolvency resolution and will be auctioned off in order to collect outstanding debts, a report in the media said.
NCLT allows Jet Airways ownership transfer to Jalan Kalrock Consortium: Report
New Delhi: The National Company Law Tribunal (NCLT) has given nod to transfer the ownership of grounded Jet Airways to the Jalan Kalrock Consortium (JKC), which had won the bid to revive the carrier in 2021, media reported.
Reliance Jio gets NCLT's nod to acquire Reliance Infratel
Mumbai/IBNS: Reliance Jio Monday secured approval of the National Company Law Tribunal (NCLT) to acquire debt-laden Reliance Infratel in a bankruptcy resolution that lingered for two years, media reports said.
Gail to acquire debt-ridden JBF Petrochemicals as lenders approve transaction
New Delhi: India's leading gas trading, transmission, and petrochemicals company Gail Ltd has received the letter of intent from lenders, paving the way for the public sector firm to acquire the debt-ridden JBF Petrochemicals through the insolvency route, media reports said.
NTPC acquires Jhabua Power Limited through Corporate Insolvency Resolution route
Mumbai: State-run integrated power generation company NTPC has successfully acquired Jhabua Power Limited (JPL) through Corporate Insolvency Resolution Process initiated by National Company Law Tribunal, Kolkata, (NCLT).
Vedanta, Adani Ports, JSW Infra, Jindal Power submit EOIs for Karaikal Port auction
The upcoming auction of Karaikal Port, which is undergoing insolvency procedure under the National Company Law Tribunal (NCLT), is likely to see the participation of Vedanta, Adani Ports and Special Economic Zone, JSW Infrastructure, Jindal Power, and a consortium of RKG Fund and Sagacious Capital, media reports said.
ZEE-Sony receives merger approval from BSE, NSE
Mumbai/IBNS: Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Friday granted approval to Zee Entertainment Enterprises Ltd (ZEEL) regarding its proposed merger with Culver Max Entertainment Pvt. Ltd. (previously Sony Pictures Networks India Private Limited).
NCLT allows insolvency proceedings against Future Retail
The Mumbai bench of the National Company Law Tribunal (NCLT) allowed a consortium of lenders, led by Bank of India, to initiate insolvency proceedings against debt-laden Future Retail, media reports said.
Pawan Hans sale put on hold after NCLT order against winning consortium member
New Delhi: Government has put on hold the sale of Pawan Hans as it is scrutinizing the legal aspects of an NCLT order on Alamas Global, which is one of the members of the winning consortium, according to reports.
Jalan-Kalrock Consortium appoints Sanjiv Kapoor CEO of Jet Airways
Mumbai: Sanjiv Kapoor, who has headed revenue and strategy departments at SpiceJet and Vistara, will be the new CEO of Jet Airways, as the company plans to restart operations in the coming summer.