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104-year-old PSU Bridge and Roof escapes insolvency after NCLAT quashes NCLT order

The creditor, Chevrox Constructions, informed the appellate tribunal that it had received the entire debt amount from the government company, Bridge and Roof. In light of this, the NCLT order was set aside. ....

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NCLT Kolkata admits 104-year-old government company into insolvency process

The Kolkata bench also clarified that even though Bridge and Roof was a government-owned company, it fell under the purview of the IBC. ....

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Birla Tyres Insolvency Case: NCLAT dismisses Kesoram's appeal in Birla Tyres insolvency case

Kesoram Industries appeal against the National Company Law Appellate Tribunal s Kolkata ruling rejected its claim of being a financial creditor of Birla Tyres Ltd. The tribunal ruled that Kesoram failed to prove the transaction was a deposit or loan, and therefore, the adjudicating authority did not commit any error in rejecting the appellant s application. ....

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NCLT approves NARCL's resolution plan for two Srei group firms

The National Company Law Tribunal s Kolkata bench has approved National Asset Reconstruction Company Ltd s resolution plan. ....

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NCLT approves NARCL's resolution plan for two Srei group firms

The NCLT has orally pronounced an order on August 11 approving the resolution plan submitted by NARCL with respect to the corporate insolvency resolution process of the companies, SIFL said in the regulatory filing on Friday. "A detailed disclosure shall be made upon the written order being made available which shall inter alia contain the details on the treatment of existing securities of the corporate debtors under the approved resolution plan, as required under the Listing Regulations and the Guidance," it said. ....

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