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News
NCLAT
NCLAT News
Go First
01 Sep 2023
Go First Lessor Receives NCLAT Permission To Inspect Leased Aircraft
Disagreeing with a portion of the NCLT's ruling that restricted the lessor from inspecting the engines, the NCLAT had issued its own directive to schedule an inspection within 10 days.
JetAirways
19 Aug 2023
Jet Airways: Jalan Kalrock Consortium Seek Time To Pay Rs 350 Crore To Lenders
During the proceedings, the Committee of Creditors (CoC) asked the Jalan-Kalrock consortium to pay Rs 350 crore by August 31, as per the schedule. However, the consortium sought an extension in the schedule.
Go First
22 May 2023
Go First Insolvency: Lessors Cannot Take Possession of Aircraft
NCLAT directed aircraft lessors to approach NCLT for any remedy in the Go First insolvency proceedings matters.
Google
29 Mar 2023
NCLAT Upholds Rs 1,337.76 Cr Fine On Tech Giant For Anti-Competitive Practice
Challenging the CCI order, Google said the findings are "patently erroneous and ignore" the reality of competition in India, Google's pro-competitive business model, and the benefits created for all stakeholders.
Google
05 Mar 2023
Google Plans Going SC After NCLAT Refuses To Stay CCI's Rs 1,338-Cr Penalty
On October 20 last year, CCI slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices. In the October ruling, CCI had also ordered the internet major to cease and desist from various unfair business practices.
NCLAT
04 Jan 2023
NCLAT directs Google to pay 10% of Rs 1,337.76 cr penalty; admits appeal
A two-member bench, however, declined to grant any immediate stay the operations of Competition Commission of India (CCI) penalty and said it would pass any order after hearing out other parties.
Yes Bank
10 Sep 2022
Yes Bank faces BIG action over unfair loan transactions, details here
The NCLAT found that more than 99 percent of the sanctioned amount – Rs 147.6 crore by Yes Bank in Mack Star's name. It also overturned the orders of the NCLT's Mumbai bench. The appellate tribunal decision followed a petition filed by Ocean Deity Investment Holdings, which owns 82.17 percent of Mack Star, challenging the NCLT order.
National Company Law Appellate Tribunal
13 Jun 2022
NCLAT rejects Amazon's plea to stay CCI order suspending Future Coupons deal
NCLAT bench in its judgement today upheld the CCI's order of suspension of Amazon Future Coupons deal agreeing with CCI's order that Amazon had not made full disclosures of the information to the Commission.
Supertech Ltd
26 Mar 2022
Noida-based builder Supertech faces second major setback in the last one year
Apart from this, Supertech is also barred from transferring, encumbering, alienating, or disposing of any assets. This is the second major setback for Noida-based developers in the last one year. Supertech Group said it would challenge the order before the National Company Law Appellate Tribunal (NCLAT).
Amazon
25 Feb 2022
CCI does not have powers to keep own order in abeyance: Amazon tells NCLAT
Senior counsel Gopal Subramaniam, representing Amazon, submitted before the appellate tribunal that the jurisdiction and statutory authority of CCI are in question in the appeal filed by the company. Form II pertains to submission of summary of a proposed combination. While listing the matter for Monday, NCLAT also said that it would try to commence day-to-day hearing in the matter.
HCL Technologies
21 Jan 2022
NCLAT stays insolvency proceedings against HCL Tech
A two-member NCLAT bench, while admitting the petition filed by HCL Tech MD and CEO C Vijayakumar stayed the National Company Law Tribunal (NCLT) order of January 17, 2022, to initiate insolvency against the IT major.
NCLAT
25 Dec 2021
NCLAT stays CCI order imposing Rs 873 crore penalty on beer makers
Kingfisher maker United Breweries is faced with a fine of Rs 751.8 crore. NCLAT bench has directed United Breweries to deposit 10 per cent of the penalty amount withing three weeks. The NCLAT has also directed the CCI and the All India Brewers Association to file replies over the notices issued by it.
NCLAT
01 Dec 2021
NCLAT rejects Kotak's plea to set aside insolvency proceedings against MSEL
The NCLT order was challenged by Kotak Mahindra Bank. Kotak Mahindra Bank had contended that four other banks -- ICICI Bank, DBS, IDBI and SBI -- had also advanced loans to MSEL. However, ICICI Bank opposed both the petitions.
ZEEL
08 Oct 2021
ZEEL gets time till October 22 to respond to Invesco’s plea
The NCLT order has come a day after the NCLAT directed it to provide a reasonable time for ZEEL to respond. NCLAT had noted that NCLT hadn’t provided adequate to ZEEL. The NCLT has now asked ZEEL to file its response by October 22.
ZEEL
07 Oct 2021
NCLAT directs NCLT to give reasonable time to ZEEL to respond
NCLAT has directed the NCLT to provide "reasonable and sufficient opportunity" to ZEEL. Invesco's plea seeks convening a meeting of the company's shareholders. The appellate tribunal, however, did not mention how much time should be given to ZEEL to submit its reply.
Jet Airways
03 Sep 2021
PNB urges NCLAT to quash Jet Airways rescue plan, here’s why
Last month, a consortium of London-based Kalrock Capital and a UAE-based businessman had agreed to invest about Rs 1000 crore in Jet Airways. PNB argued in front of the NCLAT that the reduction in the amount was arbitrary and illegal. Additional Solicitor General of India Aman Lekhi said that the tribunal has agreed to hear the case.
Supreme Court
27 Mar 2021
SC sets aside NCLAT order reinstating Cyrus Mistry as Tata Sons chairman
Supreme Court on Friday set aside NCLAT order reinstating Cyrus Mistry as Tata Sons chairman The top court also set aside the appointment of N Chandra as executive chairperson.
NCLAT
08 Mar 2020
NCLAT dismisses DoT's plea in Aircel licence moratorium matter citing delay
The National Company Law Appellate Tribunal (NCLAT) has dismissed the telecom department's plea citing delay in appeal against the NCLT order which held that the spectrum and licence of debt-ridden Aircel cannot be taken away during the insolvency resolution period.
Cyrus Mistry Tata sons case
10 Jan 2020
SC stays NCLAT order restoring Cyrus Mistry as Executive Chairman of Tata Sons
The Supreme Court on Friday (January 10) stayed the National Company Law Appellate Tribunal (NCLAT) order that restored Cyrus Mistry as executive Chairman of Tata group. The apex court also issued a notice to Mistry and summoned him to answer questions raised by Tata's lawyer in a plea filed against the NCLAT order.
Cyrus Mistry
05 Jan 2020
Cyrus Mistry says will not take up chairmanship of Tata Sons
He said that his decision has been made in the interests of the Tata Group, "whose interests are far more important then the interests of any individual".
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