All posts tagged: National Company Law Tribunal

Don’t disrupt operations until there is clarity if alternate land will be allotted, Club writes to Centre | Delhi News

Don’t disrupt operations until there is clarity if alternate land will be allotted, Club writes to Centre | Delhi News

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3 min readNew DelhiMay 26, 2026 04:48 AM IST The General Committee overseeing the Delhi Gymkhana Club has urged the Union government not to disrupt its operations until there is clarity on whether an alternate appropriate plot of land will be allotted to it. The committee – constituted by the Centre – also requested that investments made in its facilities be reconsidered along with the fact that relocation will require rebuilding those facilities at a significant cost. In a letter dated May 23, written to the Land and Development Office (L&DO), the Club’s officiating secretary, Rajesh Bhatnagar, requested that the timeline for vacating the premises be reconsidered and sought an urgent meeting with officials from the Ministry of Housing and Urban Affairs. In the letter, the Club said that there should be “no dislocation of the Club and its operations” until certain issues are clarified. These include whether the government is considering allotting an “appropriately located alternate plot of land” for relocation and recognition of the Club’s expenditure over decades on improving infrastructure and facilities …

Jindal Poly challenges NCLT class action suit order| India News

Jindal Poly challenges NCLT class action suit order| India News

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A day after the National Company Law Tribunal (NCLT) admitted a rare class action lawsuit against manufacturing major Jindal Poly Films, the company on Friday moved the National Company Law Appellate Tribunal (NCLAT) challenging the order. Representational image. Senior counsel Abhishek Manu Singhvi, appearing for Jindal Poly Films, sought an urgent hearing of the appeal before an NCLAT bench headed by the chairperson, justice Ashok Bhushan, and technical member Barun Mitra. Singhvi told the appellate tribunal that the matter involved a rare class action suit initiated under Section 245 of the Companies Act by minority shareholders of a prominent listed company. He submitted that the NCLT’s order admitting the suit had already resulted in a fall in the company’s share price and had impacted “45,000 shareholders”. Taking note of the submissions, the NCLAT agreed to hear Jindal Poly Films’ appeal on Monday. On February 5, the NCLT’s Delhi bench, headed by its president, justice Ramalingam Sudhakar, and technical member Ravindra Chaturvedi, admitted the class action suit filed by minority shareholders of Jindal Poly Films. In …

Tata Capital to file draft IPO papers after NCLT nod on merger with Tata Motors Fin | Business News

Tata Capital to file draft IPO papers after NCLT nod on merger with Tata Motors Fin | Business News

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Financial services firm Tata Capital is likely to file preliminary papers with markets regulator Sebi to raise USD 2 billion (over Rs 17,000 crore) through an initial public offering (IPO) only after getting final approval from the NCLT for Tata Motors Finance merger with the company, according to sources. At this size, the company is expected to be valued at around USD 11 billion, they said. The final order is awaited from the National Company Law Tribunal (NCLT), which is expected to be closed by the end of this financial year (FY25), sources said. Story continues below this ad An email sent to Tata Capital regarding the filing of draft papers remained unanswered. Tata Capital, identified as an upper-layer non-banking finance company (NBFC) by the Reserve Bank of India (RBI), already received its board approval to float the initial share sale. The proposed IPO would comprise 2.3 crore equity shares by way of a fresh issue and an offer of sale (OFS) by certain existing shareholders, according to a disclosure made to stock exchanges. Apart …

GoFirst’s last stand with two suitors in the wings: Understanding airline insolvency in India | Latest News India

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Earlier this week, the National Company Law Tribunal (NCLT) extended the moratorium period on Go First’s dues and leased aircraft by another 60 days giving the grounded airline a final chance to get new owners. Go First has two suitors — a consortium of SpiceJet chief Ajay Singh and Busy Bee Airways and Sharjah-based Sky One — who have shown interest in the airline. PREMIUM Go first airlines (Representative Photo) Go First was grounded last May due to financial troubles. Shortly before the crisis hit the 18-year-old airline, it was operating a pared-down fleet of 26 aircraft (of the total 54 aircraft it owned), while the remaining 30 were grounded due to Pratt & Whitney (PW) engine issues. The airline had a market share of 6% on March 23 before it was grounded. A look at the stages of Go First’s insolvency Q. When did Go First file for insolvency? Go First’s insolvency set a precedent in India’s Insolvency and Bankruptcy Code (IBC), where the company itself filed for insolvency in May last year saying …

Plan is to bring Air India up to the same levels as Vistara: CEO Vinod Kannan | Business News

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In less than a decade of existence, Vistara has emerged as the preferred full-service carrier in India, setting a new standard in a tough and price-sensitive market. With the Tata group consolidating its airline business, the brand Vistara will fly into the sunset as the airline merges into the group flagship Air India. According to  Vistara’s Chief Executive Officer VINOD KANNAN, while the brand Vistara may slip into the past, its legacy will live on in the new Air India. In an interaction with SUKALP SHARMA, Kannan talks about various facets of the impending merger, including people integration, and how Vistara’s expertise would be critical in making Air India a world-class airline. Edited excerpts: Q. You have built a formidable and respected brand in Indian aviation. It is going to integrate with a much bigger and older brand (Air India), which has so far not been celebrated for service excellence. How do you see the merger shaping the new Air India brand? In the aviation business, you need scale, and if you look at the …

ZEEL makes another attempt to save $10 billion merger with Sony Group

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Making a last-ditch attempt to make the deal a reality, the shareholders of Zee Entertainment Enterprises Limited (ZEEL) have filed another petition in the National Company Law Tribunal (NCLT), seeking the enforcement of the now-cancelled merger with Sony Group. Sony called off its merger with ZEEL last week (Reuters) The petition was filed before a Mumbai bench of NCLT, which further directed Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks. The next hearing for the case has been kept on March 12. HT has launched it’s new Cricket page. Click here to know more! This comes a week after Sony Group sent a notice to ZEEL, terminating the merger between the two entities on January 21. The mega-merger worth $10 billion was called off, and Sony Group sought USD 90 million for breach of conditions besides initiating arbitration from ZEEL. The latest NCLT notice came on a petition filed by Mad Men Film Ventures, a shareholder of ZEEL. Mad Men Film Ventures earlier sent an application requesting …