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The National Company Law Tribunal (NCLT), Mumbai on Tuesday allowed Kirloskar Industries (KIL) – a company promoted by Atul Kirloskar and Rahul Kirloskar - to sell a part of their shares in Kirloskar Brothers (KBL), a company promoted by Sanjay Kirloskar. The tribunal also came down heavily on both sections of family for the stalemate and expressed concerns over the impact of such family feud on thousands of public investors....

NCLT allows Kirloskar Industries to sell shares of Kirloskar Brothers The National Company Law Tribunal (NCLT), Mumbai on Tuesday allowed Kirloskar Industries (KIL) – a company promoted by Atul Kirloskar and Rahul Kirloskar – to sell a part of their shares in K…

The National Company Law Tribunal (NCLT) on May 22 issued notices to Think and Learn Pvt Ltd, the parent company of Byju’s, in three cases over non-payment of dues to operational creditors. Byju’s is in involved in litigation with at least seven vendors in NCLT amid an acute financial crisis. The hearing in all three cases, filed by publishing company McGraw Hill…...

NCLT issues 3 notices to Byju’s over non-payment of dues, next hearing on July 3 The National Company Law Tribunal (NCLT) on May 22 issued notices to Think and Learn Pvt Ltd, the parent company of Byju’s, in three cases over non-payment of dues to operational creditors. Byju’s …

The National Company Law Tribunal (NCLT) in Bengaluru issued notice in an insolvency plea filed by mobile phone manufacturer Oppo against embattled ed-tech company Byju's. The plea is now likely to come up for hearing again in the last week of May, as the tribunal will go on a summer break from May 3. Apart from Oppo, two new insolvency pleas have been filed against Byju's in the last one week....

NCLT issues notice in Oppo’s insolvency plea against Byju’s The National Company Law Tribunal (NCLT) in Bengaluru issued notice in an insolvency plea filed by mobile phone manufacturer Oppo against embattled ed-tech company Byju’s. The plea is now lik…

A group of minority shareholders led by investor Manu Rishi Guptha have filed a class action suit on Saturday with the National Company Law Tribunal against ICICI Securities on the delisting plan, sources said. More than 100 shareholders are a part of the class action suit. As per section 245 of the Company Act 2013 such a suit may be filed (where one or several persons join together and sue on behalf of a larger group of person) if they are of the opinion that the management or conduct of the affairs of the company are being conducted in a manner prejudicial to the interests of the company or its members or depositors....

MC Exclusive: Minority shareholders file class action suit against ICICI Securities on delisting concerns A group of minority shareholders led by investor Manu Rishi Guptha have filed a class action suit on Saturday with the National Company Law Tribunal against ICICI Securities on the delisting plan, …

The National Company Law Tribunal (NCLT) in Bengaluru on April 24 imposed a cost of Rs 20,000 on embattled ed-tech company Byju's for not filing its response to an insolvency plea filed by Surfer Technology despite being given several chances to do so. We will consider your response only after you deposit the cost," the NCLT bench told Byju's lawyers. The tribunal had issued a notice to the cash-strapped ed-tech firm in Surfer's plea in February and Byju's had sought time to file a response twice before it decided to levy the cost....

NCLT levies Rs 20,000 cost on Byju’s for not filing response to Surfer Tech plea The National Company Law Tribunal (NCLT) in Bengaluru on April 24 imposed a cost of Rs 20,000 on embattled ed-tech company Byju’s for not filing its response to an insolvency plea filed by Su…

The National Company Law Tribunal (NCLT) in Delhi on April 22 admitted Indiabulls Housing Finance's (IBHF) personal insolvency plea against Zee Entertainment Enterprises Limited (ZEEL) chairman emeritus Subhash Chandra over guarantees given to a company called Vivek Infracon. The tribunal also rejected pleas by IDBI Trusteeship and Axis Bank against Chandra being admitted to personal insolvency. As a result of Chandra being admitted to moratorium, no litigation can be initiated against him....

NCLT admits Indiabulls’ personal insolvency plea against Zee’s Subhash Chandra The National Company Law Tribunal (NCLT) in Delhi on April 22 admitted  Indiabulls Housing Finance’s (IBHF)  personal insolvency plea against Zee Entertainment Enterprises Limited (…

The National Company Law Tribunal (NCLT) on April 18 asked embattled edtech firm Byju's to settle its dispute with France-based Teleperformance Business Services in a week's time. However, if the dispute is not settled by then, the tribunal would hear the case on merits and pass an order accordingly. The case will now come up for hearing on April 30....

NCLT asks Byju’s to settle dispute with Teleperformance within a week The National Company Law Tribunal (NCLT) on April 18 asked embattled edtech firm Byju’s to settle its dispute with France-based Teleperformance Business Services in a week’s time. …

Legal experts have opined that Zee Entertainment Enterprises Limited (ZEEL) was right in withdrawing its plea at the National Company Law Tribunal (NCLT) to enforce its merger with Sony. If ZEEL had lost before the NCLT, it would have impacted before the arbitration (a case seeking a $90-million termination fee is pending before the Singapore International Arbitration Centre) . In all probability, they ought to have kept the proceedings before the arbitrator rather than approaching NCLT....

ZEEL took the right decision to withdraw plea to enforce merger with Sony, say legal experts Legal experts have opined that Zee Entertainment Enterprises Limited (ZEEL) was right in withdrawing its plea at the National Company Law Tribunal (NCLT) to enforce its merger with Sony. If ZEEL ha…

Alterna Aircraft BV Limited, an Ireland-based aircraft lessor on March 18 withdrew its insolvency plea against low-cost airline SpiceJet at the National Company Law Tribunal (NCLT). The lessor plans to fight the same at an appropriate forum. The NCLT thus permitted it to withdraw the plea and gave it the liberty to move the plea at the forum it thinks fit....

Alterna Aircraft withdraws insolvency plea against SpiceJet in NCLT Alterna Aircraft BV Limited, an Ireland-based aircraft lessor on March 18 withdrew its insolvency plea against low-cost airline SpiceJet at the National Company Law Tribunal (NCLT). The lessor plan…

Four investors of embattled edtech firm Byju's have filed pleas in the Supreme Court requesting they be heard before the court decides on a plea likely to be filed against a National Company Law Tribunal (NCLT) order. MIH Edtech Investments BV, Peak XV Partners Investments, Sofina SA and General Atlantic Singapore TL Pte Ltd filed separate caveats in the apex court on March 4....

Byju’s investors file caveats in SC expecting challenge to NCLT’s rights issue order Four investors of embattled edtech firm Byju’s have filed pleas in the Supreme Court requesting they be heard before the court decides on a plea likely to be filed against a National Company …

IFFCO has moved the NCLT against Swan Energy Ltd (SEL) and their joint venture Triumph Offshore to restrain their JV firm from passing any resolution without its approval and issuing any share/security to the lenders against loans. Seeking an injunction against any such proposal, IFFCO, in its petition filed before the Ahmedabad bench of the NCLT, alleged that Triumph Offshore is pre-paying the debt, which may result in dilution of its shareholding in the joint venture firm and is detrimental to its interest....

IFFCO moves NCLT against Triumph Offshore, Swan Energy IFFCO has moved the NCLT against Swan Energy Ltd (SEL) and their joint venture Triumph Offshore to restrain their JV firm from passing any resolution without its approval and issuing any share/secu…

Sony Pictures Networks India on Thursday withdrew the merger application it had filed with the National Company Law Tribunal (NCLT) for the merger of its business with Zee Entertainment Enterprises Ltd (ZEEL), sources aware of the development told Moneycontrol. Sony had terminated its two year-long merger talks with Zee on 22 January, putting an end to the process that would have created a $10 billion media behemoth....

Sony formally withdraws Zee merger application from NCLT Sony Pictures Networks India on Thursday withdrew the merger application it had filed with the National Company Law Tribunal (NCLT) for the merger of its business with Zee Entertainment Enterprises…