Read more about Tata vs Mistry: Shapoorji Pallonji Group files review petition in SC on Business Standard. In its March 26 judgement, Supreme Court had ruled in favour of the Tata Group
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Cyrus Mistry seeks review of SC verdict in case against Tata Sons
The Shapoorji Pallonji Group has filed a review petition before the Supreme Court seeking review of its March 26 verdict in the dispute between Tata Sons Limited and Cyrus Mistry. The apex court had on March 26 set aside the National Company Law Appellate Tribunal (NCLAT) order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group.
The last month s verdict ended nearly fiye-year old case put an end to the corporate war between Tata Group and the Mistrys.
The top court in its order had said that all the questions of law are liable to be answered in favour of the appellants Tata Group and the appeals filed by the Tata Group are liable to be allowed and those by Shapoorji Pallonji Group are liable to be dismissed.
Shapoorji Pallonji Group files review petition in SC challenging verdict favouring Tata Group ANI | Updated: Apr 26, 2021 07:21 IST
New Delhi [India], April 26 (ANI): Shapoorji Pallonji Group knocked on doors of the Supreme Court on Sunday by filing a review petition before it and challenged the top court s March 26 judgement in which it had ruled in favour of the Tata Group.
Notably, as per rules, the review petition is heard inside the chamber and before the same bench, which had passed the judgment in the case.
The Supreme Court in its judgement on March 26 had upheld the decision of the Tata Sons board in October 2016 to remove Cyrus Mistry its then chairman from office and later the company s board and set aside National Company Law Appellate Tribunal s (NCLAT) earlier order restoring Mistry s appointment as executive chairman of the Tata group.
Aascar Film’s plea to dissolve insolvency proceedings rejected
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Case pertains to non-payment of dues to the tune of ₹116.2 crore
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Case pertains to non-payment of dues to the tune of ₹116.2 crore
The National Company Law Tribunal (NCLT) has rejected a plea by film producer V. Ravichandran to dissolve the insolvency proceedings against Aascar Film Private Limited. It also dismissed another plea, seeking to stay the decision of the committee of lenders to go for liquidation.
In September 2019, the NCLT had ordered insolvency proceedings against Aascar Film in a case filed by Indian Overseas Bank for alleged non-payment of dues of about ₹116.2 crore. The loans were availed for making movie I and commitments under a one-time settlement agreement were not fulfilled, the bank said.
63Moons moves NCLT against Piramal ascribing ₹1 value to DHFL’s ‘recoverable’ assets
April 25, 2021
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63Moons Technologies has dragged Piramal Capital and Housing Finance to the National Company Law Tribunal (NCLT) for ascribing ‘₹1’ value to the assets or transactions of Dewan Housing Finance Corporation (DHFL) that, it says, have a recovery potential of more than ‘₹40,000 crore’.
DHFL, one of India’s largest housing finance companies, is in the midst of insolvency proceedings and Piramal’s Request for Resolution Plan (RFRP) to acquire the company was approved by the committee of creditors (COC) this year.
63Moons, the erstwhile promoter of commodity bourse MCX, has accused Piramal of trying to illegally pocket the money that is likely to be recovered from the debtors of DHFL. 63Moons, which is an admitted financial creditor of DHFL, has also challenged before the NCLT the approvals given by the CoC and the Resolution Professional to Piramal. A hearin