Nclt
Latest news, explainers and analysis on Nclt. Tracking 5 stories on Arth Vani.
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BreakingNCLT Stays Subhash Chandra's Repayment Plan, Bars Asset Sale for Creditor Protection
A special five-member National Company Law Tribunal (NCLT) bench has stayed the approval of a repayment plan proposed by Essel Group founder Subhash Chandra. The tribunal also prohibited Mr. Chandra from selling or transferring any of his assets, a move sought by dissenting creditors. This significant decision reverses an earlier NCLT bench order that had approved the repayment plan.
BreakingNCLT Approves 99.97% Haircut in Subhash Chandra Insolvency Case
The National Company Law Tribunal (NCLT) has cleared a resolution plan for Zee founder Subhash Chandra, allowing him to settle ₹22,006.57 crore in claims for just ₹6.5 crore. This massive haircut stems from his role as a personal guarantor rather than a direct borrower.
NCLT: Creditors Can't Seek More After Debt Resolution Plan Approved
The National Company Law Tribunal (NCLT) has delivered a significant ruling, stating that once a company's debt resolution plan is approved and creditors' dues are settled, they cannot pursue further claims. This decision prevents creditors from seeking additional recoveries, even from group companies or through guarantees, bringing much-needed finality to corporate insolvency cases in India.
Bad Bank NARCL Recovers ₹575 Crore from Agson Global, Boosting Bank Books
India's state-backed 'bad bank', NARCL, has successfully recovered ₹575 crore from aroma manufacturer Agson Global. This marks a significant win for public sector lenders who received nearly ₹200 crore more than their initial security value.
BreakingJAL Shares to Delist on Thursday: 6 Lakh Shareholders to Receive Zero Value
Jaiprakash Associates (JAL) will be removed from the BSE and NSE on June 18 following its acquisition by the Adani Group. Under the court-approved insolvency plan, the existing equity is being completely extinguished, leaving retail investors with no compensation.
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