Tag: NCLT

NCLT considers insolvency arguments made against Mumbai Metro One

April 16, 2024April 16, 2024 Santhi No Comments

The Mumbai bench of the National Company Law Tribunal (NCLT) has resolved two distinct bankruptcy cases brought against Reliance Infrastructure (RInfra) and its subsidiary Mumbai Metro One (MMOPL), providing a significant reprieve. A debt settlement agreement negotiated between Mumbai Metro and the lenders resulted in the dismissal of the petitions brought by State Bank of…

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Hinduja Group begins rebranding Reliance capital & its subsidiaries

March 27, 2024 Santhi No Comments

In anticipation of final regulatory approvals, the Hinduja Group has begun the process of rebranding Reliance Capital (RCap) and its operating companies, following the debt-ridden firm’s successful bid. In line with the group’s plan to concentrate solely on the insurance operations of the acquired company, RCap, the holding company, would become IndusInd Insurance Holding Company…

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Hinduja: The RCap lenders’ deadline is untenable

March 15, 2024April 16, 2024 Santhi No Comments

The Hinduja Group has declared that it is not “tenable” and has rejected lenders’ demands that the Reliance Capital (RCap) resolution plan be implemented by March 31. This includes the release of payment. According to a letter from IndusInd International Holdings (IIHL) to the administrator, implementing the resolution plan—especially one as large and complex as…

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NCLT grants the RCap administrator a 90-day window to request a correction

March 14, 2024April 16, 2024 Santhi No Comments

The administrator of Reliance Capital (RCap) filed an appeal with the National Company Law Tribunal (NCLT) on Wednesday, requesting a correction during the allotted 90 days for the resolution plan’s implementation. The appeal was granted. It will cause the resolution process, which began in November 2021, to conclude more quickly. The debt-ridden company’s winning bidder,…

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Tata Motors demerger: Must you purchase Tata Group stock?

March 5, 2024April 26, 2024 Santhi No Comments

Tata Motors demerger: The division of Tata Motors Ltd. into two distinct listed companies, PV, which includes India PV, EV, JLR, and related investments, and CV and its related investments, may improve attention to their respective businesses. According to Emkay Global, the action appears to be a logical continuation of the separate reporting of the…

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Sony challenges Zee’s appeal in the NCLT

March 2, 2024May 2, 2024 Santhi No Comments

In the National Company Law Tribunal (NCLT) in Mumbai, Culver Max, an Indian subsidiary of the Sony Group, has contested the maintainability of Zee Entertainment’s argument regarding merger enforcement. According to media reports on Friday, the NCLT will hear Sony’s plea as well as additional applications pertaining to the Sony-Zee merger case on March 12….

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Reliance and Disney agree to combine their media businesses

February 26, 2024May 18, 2024 Santhi No Comments

A major agreement for the massive media merger between Walt Disney and Reliance Industries, owned by Mukesh Ambani, has been signed, according to a Bloomberg report. The Economic Times reported that the merger might be formally announced as early as this week, despite neither party having made an official announcement. As per the Bloomberg report,…

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Zee forms a panel to support investor assurance

February 24, 2024May 20, 2024 Santhi No Comments

In an attempt to win back the trust of shareholders, Zee Entertainment Enterprises (Zee) on Friday announced the formation of an independent advisory committee consisting of three members, led by retired Allahabad High Court judge Satish Chandra. Independent directors of the company Uttam Agarwal and P V Ramana Murthy will also be on the committee….

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Byju’s urged by Karnataka Labor to settle dues for ex-employees

February 17, 2024 adminbusinessuncover No Comments

The Karnataka government called troubled education technology major Byju’s and a few former workers to a conciliation meeting on Friday. This comes after ex-employees voiced concerns about outstanding debts. Byju’s urged by Karnataka Labor to settle dues for ex-employees. Several emails were sent to the Karnataka labor department by former workers who claimed they were…

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Pritika Auto industries shares up 5% after NCLT demerger.

December 6, 2023December 6, 2023 adminbusinessuncover No Comments

The National Company Law Tribunal’s Chandigarh bench has approved the agreement between Pritika Industries and Pritika Auto Industries through an order. After the company received approval for the demerger from the Chandigarh bench of the National Company Law Tribunal (NCLT), shares of Pritika Auto Industries Ltd. increased by more than 5% on Wednesday during trading….

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