The Supreme Court on Tuesday expressed concern over delays by the National Company Law Tribunal (NCLT) in approving resolution plans for the revival of financially ailing companies under the Insolvency and Bankruptcy Code.
Earlier, Reliance had stated that the reorganisation will help the consumer brands business grow faster with a sharper focus and its own management.
The NCLT's Mumbai bench passed the order recently based on a petition filed by Invent Assets Securitisation & Reconstruction Pvt Ltd, which is RHFL's financial creditor.
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the merger of Adani Cementation with Ambuja Cements, clearing the way for the Adani Group to streamline its cement operations under a single entity.
Earlier on June 25, the Mumbai bench of the NCLT had asked Reliance Retail to convene a meeting for approval of the internal restructuring process, under which its consumer business is transferred as a going concern.
It also seeks to declare that the removal of R.P. Mittal and Sarla Mittal from directorship in the EOGM is legal and valid.
Domestic equities got spooked post the hawkish commentary from RBI, says Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial…
The Raigad Police FIR in the Nitin Chandrakant Desai suicide case has accused the Edelweiss ARC officials of intimidating the ace art director with threats of Section 138 (cheque bouncing), EOW, NCLT and DRT and attempting to ‘grab’ his sprawling N.D. Art World Pvt. Ltd. studio in Khalapur.
The government said on Monday that the Directorate General of Civil Aviation (DGCA) has received applications from lessors for de-registration…
In addition, the airline sought direction to appoint an insolvency resolution process (IRP) for the betterment of Go First.
