Free Press Journal
  • Daiichi seeks stay on insolvency plea against RHC

    New Delhi : Daiichi Sankyo has moved the National Company Law Tribunal (NCLT) to stay the insolvency proceedings against RHC Holding initiated by HDFC Bank. A two member bench NCLT has asked both – RHC Holding and its lender HDFC Bank to file reply over the move within a week. The tribunal has directed to list the matter on Oct 4 for next hearing. Daiichi, which has filed an intervention application in

  • ICICI files insolvency plea against Jaiprakash

    New Delhi : Private sector lender ICICI Bank has filed insolvency petition against Jaiprakash Associates before the National Company Law Tribunal (NCLT).

  • IDBI moves NCLT against Rel Naval to recover loan

    New Delhi : IDBI Bank has moved NCLT against Reliance Naval and Engineering to recover its dues from the company. The company has been informed that IDBI Bank, a lender of the company, has filed an application before the National Company Law Tribunal (NCLT), Ahmedabad, seeking debt resolution under the Insolvency and Bankruptcy Code (IBC), Reliance Naval and Engineering said on Thursday.

  • Ex-staffer drags L&T to NCLT

    Mumbai : A shareholder and former employee of Larsen and Toubro (L&T) has approached the NCLT alleging oppression and mismanagement of employee welfare fund and assets of the company. However, L&T refuted the claims, terming them as “frivolous” and “baseless”.

  • Banks to drag 11 power cos to NCLT

    Mumbai: Failing to find resolutions for stressed power sector companies, lenders have decided to refer 11 companies, including Prayagraj Power Generation, GMR Chhattisgarh Energy and Jaiprakash Power Venture, to the NCLT, sources said.

  • NCLT issues notices to Malvinder, Godhvani

    New Delhi : The National Company Law Tribunal (NCLT) on Thursday issued notices to Malvinder Mohan Singh, ex-Religare chief Sunil Godhwani and others, and also directed to maintain status quo over the shareholdings and composition of RHC Holdings board after the plea of younger brother Shivinder Singh.

  • Shivinder moves NCLT against brother Malvinder, ex-Religare chief Godhwani

    New Delhi : Former Fortis Healthcare promoter Shivinder Singh said on Tuesday he has moved the National Company Law Tribunal (NCLT) against elder brother Malvinder and ex-Religare chief Sunil Godhwani, while dissociating from his brother as business partner.

  • Higher provisioning to push Public Sector Banks into red

    Mumbai : Elevated provisioning for stressed loans may keep most public sector banks in the red in the current financial year and may also prompt the government to announce capital infusion within the next two months, according to rating agency Icra.

  • Bankers burning midnight oil to resolve Rs 3.8 trillion NPAs before deadline

    Mumbai: With the six-month deadline set by Reserve Bank of India to finalise resolution plans for around 70 large stressed accounts worth over Rs 3.8 trillion ending on Monday, banks are burning the midnight oil to avoid bankruptcy proceedings against these defaulters who are mostly power producers.

  • PNB posts Rs. 940 crore loss in Q1

    New Delhi: Fraud-stricken Punjab National Bank (PNB) on Tuesday posted a net loss of Rs. 940 crore for the quarter ended June 30, against a net profit of Rs 343.40 crore for the same quarter last year.

  • SC to hear Jaypee home buyers’ plea on Mon

    New Delhi : The Supreme Court on Friday listed for final hearing on July 16 the pleas of hassled home buyers registered with Jaiprakash Associates (JAL) saying that it would exclusively deal with their grievances and the “capability” of realty firm to refund money to them.

  • Tata-Mistry feud: Chairman doesn’t enjoy a free hand, says NCLT

    Mumbai : The National Company Law Tribunal (NCLT), which upheld the removal of Cyrus Mistry as chairman of Tata Sons, said an executive chairman does not enjoy a free hand and that he also cannot assume that majority shareholders and the board would be at his “beck and call”.

  • Tata-Mistry case: NCLT order deferred to July 9

    Mumbai: The National Company Law Tribunal (NCLT) today deferred to July 9 its judgement on a petition filed by Cyrus Mistry challenging his ouster as chairman of the Tata Sons group.

  • Verdict on Tata-Mistry battle on July 4

    Mumbai : The city bench of the National Company Law Tribunal (NCLT) will deliver its judgement on July 4 that may bring the curtains down on the two-year-old bitter feud between Tata Sons and its dismissed chairman Cyrus Mistry.

  • SBI drags Jai Balaji to NCLT over dues

    Mumbai : After having narrowly escaped bankruptcy in October, Jai Balaji Industries is, once again, facing insolvency as the State Bank of India filed a winding-up plea against the company to recover dues worth nearly Rs 900 crore, a source said.

  • 65 accounts referred for resolution

    Kolkata: Allahabad Bank has refereed 65 accounts of stressed assets involving an amount of about Rs 12,566 crore to National Company Law Tribunal (NCLT) for resolution under Insolvency and Bankruptcy Code (IBC) during last fiscal. The bank said in its annual report that it was focusing on recovery and rebalancing loan book with emphasis on small, micro, agriculture and retail advances. The number of wilful defaulters declared by the bank was 257.

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    Jaiprakash Associates to challenge NCLT order

    New Delhi : Crisis-ridden Jaiprakash Associates (JAL) has decided to appeal against the NCLT order that directed the company to return nearly 760 acre land to its subsidiary Jaypee Infratech, while declaring the transfer of the land as “fraudulent” and “undervalued”.