NCLT initiates insolvency proceedings against Ahluwalia Contracts
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Last Updated: May 09, 2021, 02:31 PM IST
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Synopsis
The New Delhi-based NCLT bench allowed the insolvency plea filed by A2 Interiors Products Pvt Ltd against Ahluwalia Contracts, claiming default of Rs 14.10 crore, and appointed an interim resolution professional.
PTI
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against construction firm
Ahluwalia Contracts India for defaulting on payments to an operational creditor. The New Delhi-based NCLT bench allowed the insolvency plea filed by A2 Interiors Products Pvt Ltd against Ahluwalia Contracts, claiming default of Rs 14.10 crore, and appointed an interim resolution professional.
Synopsis
Interior designing firm A2 Interiors Products had approached the Delhi-bench of the NCLT claiming that Ahluwalia Contracts, a company behind landmark structures including Hotel ITC hotel in Bengaluru, Leela Hotel in Delhi and the Ranchi airport terminal, failed to clear its dues.
The construction firm, while countering the petition in the tribunal, argued that the application was not maintainable. The demand related to different work orders, which cannot be claimed under one single application
The bankruptcy court has admitted an insolvency resolution plea filed by an operational creditor against Delhi-based listed realty firm
Ahluwalia Contracts India, over a default of more than Rs 14 crore.
In a call with the IRP on Tuesday, homebuyers said they will agree to an extension only on the condition that the resolution applicants submit bona fide proposals and do not delay the resolution in all earnestness.
NOIDA: The interim resolution professional (IRP) holding charge of Jaypee Infratech Limited (JIL) has decided to seek an extension of 30 days beyond the 45 days given by the Supreme Court to the National Company Law Tribunal (NCLT) to select a construction company that will complete 19,500 much-delayed flats at Jaypee’s Wish Town project. In an email, the IRP has sought permission of homebuyers before he files a petition in the Supreme Court.
High Court questions Delhi government logic not to take over 150-bed closed down private hospital
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Last Updated: May 06, 2021, 01:09 PM IST
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Synopsis 150 beds are there. We are struggling to find beds everyday. We are fighting for it everyday and you are saying you will not touch it (hospital). We do not understand the logic here, a bench of Chief Justice D N Patel and Justice Jasmeet Singh said to the Delhi government. The court further said, The water has already gone over our heads. He (petitioner-doctor) is offering his hospital, he is ready to bring in his medical team, what else can you ask for?
Bharat Forge announced that in terms of the resolution plan approved by National Company Law Tribunal, Ahmedabad Bench (NCL T), the company has acquired a Company within the Group named Nouveau Power & Infrastructure (NPIPL) as a SPV to undertake the acquisition of Sanghvi Forging & Engineering.
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