The National Green Tribunal has asked the Delhi Pollution Control Committee (DPCC) to consider replacing 15-year-old diesel generator sets, besides using cleaner fuel for complying with environmental norms.
While disposing of a petition that claimed the continuous running of generators at a
Amtek Auto resolution takes new twist
April 18, 2021
NCLAT has dismissed the petition and has imposed a penalty of ₹1 lakh on DVI
NCLAT has dismissed the petition and has imposed a penalty of ₹1 lakh on DVI×
NCLAT rejects Deccan Value Investors condition on land lease
The three-year-old insolvency case of Amtek Auto has taken yet another interesting twist with the National Company Law Appellate Tribunal (NCLAT) dismissing the petition of the successful resolution applicant, Deccan Value Investors (DVI), and imposing a penalty of ₹1 lakh to be paid in 15 days.
NCLT’s approval
The National Company Law Tribunal (NCLT) of Chandigarh had approved DVI’s ₹2,700-crore resolution plan last July. DVI offered to pay Amtek’s creditors around ₹450 crore in cash upfront.
NCLAT orders KS Oils liquidation; raps NCLT for lapse of 981 days
March 17, 2021
The insolvency resolution was initiated by the NCLT on 2017 - Getty Images/iStockphoto×
‘Delay in resolution defeats purpose of Insolvency Code’
The National Company Law Appellate Tribunal (NCLAT) has directed initiation of liquidation process of leading integrated edible oil company KS Oils Ltd and set aside an National Company Law Tribunal (NCLT) order passed against it.
Terming it “unfortunate”, the appellate tribunal observed that even after the lapse of 981 days and repeated compliance by the Resolution Professional to initiate the liquidation process, the NCLT had not considered it. A two-member NCLAT Bench headed by Acting Chairperson Justice BL Bhat allowed the appeal filed by the Resolution Professional (RP) saying the “fitness of the situation” allows initiation of liquidation of the corporate debtor KS Oils.