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NCLT admits Yashraj Containeurs' voluntary insolvency resolution application

Yashraj Containeurs Ltd has been admitted for voluntary corporate insolvency resolution. Manish Motilal Jaju is appointed as the interim resolution professional. The management will vest in the IRP/RP. The suspended directors and employees must provide all documents and information. Bank of India has no objection to the application.

India , Mumbai , Maharashtra , Kishore-vemulapalli , Jagmohan-singh , Manish-motilal-jaju , Yashraj-containeurs , Nausher-kohli , Aircel-ltd , Ricoh-india-ltd , Yashraj-containeurs-ltd , National-company-law-tribunal

NCLT admits SKIL Infrastructure under corporate insolvency process

Promoted by brothers Nikhil and Bhavesh Gandhi, SKIL Infrastructure was instrumental in building the country's first private-sector seaport at Pipavav in Gujarat. The company also built the country's first railway line under the public-private partnership model, comprising 286 kilometres of rail line connecting the port of Pipavav to the nearest broad gauge station, Surendranagar.

Mumbai , Maharashtra , India , Surendranagar , Gujarat , Purusottam-behera , Kishore-vemulapalli , Jagmohan-singh , Bhavesh-gandhi , Amluckie-investment-company , National-company-law-tribunal , Amluckie-investment

Blade maker Supermax goes into bankruptcy

The operational creditor had approached the tribunal in September last year after Supermax Personal Care defaulted on its dues of ₹1.97 crore.

India , Mumbai , Maharashtra , Kishore-vemulapalli , Kshitiz-gupta , Ashish-pyasi , Jagmohan-singh , National-company-law-tribunal , Max-group , Supermax-group , Supermax-personal-care , Anu-jagmohan-singh

NCLT admits plea to initiate insolvency against Sahara Group entity Sahara Q Shop

The Sahara Group company had entered into a service agreement with the Sigma Supply Chain Solution for handling, storage, maintenance, administration, distribution and arrangement of goods from the Sahara Q Shop at different places across the country.

Mumbai , Maharashtra , India , Subrata-roy , Sandeep-bajaj , Nausher-kohli , Jagmohan-singh , Kishore-vemulapalli , Sigma-supply-chain-solution-pvt-ltd , National-company-law-tribunal , Sahara-group , Sahara-india-pariwar

Bombay Rayon Fashion heads for liquidation

The National Company Law Tribunal (NCLT), while allowing an application to admit the liquidation company, also appointed lenders and resolution professional recommended Truvisory Insolvency Professionals (IPE) as its liquidator.

Mumbai , Maharashtra , India , Bombay , Jagmohan-singh , Kishore-vemulapalli , National-company-law-tribunal , Bombay-rayon-fashion , Truvisory-insolvency-professionals , Bombay-rayon , Anu-jagmohan-singh , Key-managerial-personnel

NCLT admits personal insolvency application against Kishore Biyani, ET Retail

The admission of the application by the National Company Law Tribunal (NCLT) ensures moratorium on transactions of personal assets of the guarantor. But it does not give the resolution professional (RP) the right to take control of the personal assets of the guarantor. Following the ruling, the RP will invite claims from lenders and also validate them.

Mumbai , Maharashtra , India , Jagmohan-singh , Vikram-trivedi , Kishore-biyani-biyanimumbai , Kishore-vemulapalli , Ashish-pyasi , Kishore-biyani , Manilal-kher-ambalal-co , Chain-solutions , Supreme-court

NCLT admits personal insolvency application against Kishore Biyani

The admission of the application by the National Company Law Tribunal (NCLT) ensures moratorium on transactions of personal assets of the guarantor. But it does not give the resolution professional (RP) the right to take control of the personal assets of the guarantor. Following the ruling, the RP will invite claims from lenders and also validate them.

Mumbai , Maharashtra , India , Jagmohan-singh , Vikram-trivedi , Ashish-pyasi , Kishore-biyani , Kishore-vemulapalli , Supreme-court , Axis-trustee-service , National-company-law-tribunal , Chain-solutions

Sarda Energy: Sarda Energy challenges NCLT order on SKS Power bid

The plea, filed in the National Company Law Appellate Tribunal (NCLAT) on Tuesday, has said that the court has erred in questioning the wisdom of the CoC and has sought a direction to the NCLT to consider the plans in its current form.

Nagpur , Maharashtra , India , Mumbai , Baroda , Gujarat , Prabhat-kumar , Kishore-vemulapalli , National-company-law-appellate-tribunal , National-company-law-tribunal , Sarda-energy-minerals , Sarda-energy

SKS Power lenders to review Torrent's resolution proposal next week

Lenders of SKS Power are set to meet next week to review the resolution plan presented by Torrent Power. This comes after the bankruptcy court noted that the decision to sell the power company to Sarda Energy and Minerals was made based on incomplete financial data. Other companies, including Jindal Power Ltd and Vantage Point Asset Management, were also bidding for the power producer. Torrent Power has appealed, stating that its offer included an upfront cash payment of ₹2,000 crore, while Sarda's offer included ₹400 crore as deferred payment.

Mumbai , Maharashtra , India , Prabhat-kumar , Kishore-vemulapalli , Sarda-energy , Jindal-power-ltd , Committee-of-creditors-co , Torrent-power , Vantage-point-asset-management , Adjudicating-authority , Bankruptcy-court

Simpl: National Company Law Tribunal dismisses fintech firm Simpl co-founder's plea

The NCLT has dismissed an application filed by Simpl's co-founder, Nityanand Sharma, seeking the dismissal of an Oppression and Mismanagement petition filed by another co-founder, Chaitra Gowdar Chidanand. Chidanand had sought the tribunal's intervention to declare a resolution passed by the company as null and void, alleging that her shareholding had been deliberately diluted.

United-states , Mumbai , Maharashtra , India , Nausher-kohli , Prabhat-kumar , Sushmita-gandhi , Shyam-kapadia , Kishore-vemulapalli , Nityanand-sharma , Chaitra-gowdar-chidanand , National-company-law-tribunal