Prayagraj: The court functioning of National Company Law Tribunal (NCLT), Allahabad Bench has been deferred from April 12 to April 23, on account of i.
Prayagraj: Keeping in view the alarming situation of Covid-19 pandemic, the Central Administrative Tribunal (CAT), Allahabad bench, including its circuit bench at Nainital, will remain closed and its building here will remain sealed till April 18.
Passing the above directive, head of the department (HoD) of CAT, Allahabad Bench, Justice Vijay Lakshmi said that after this period, the situation would be reviewed and further decisions would be taken accordingly, after consultation with office-bearers of CAT Bar Association.
While taking this unprecedented decision, the HoD further said, “All of us are aware that the cases of Covid-19 are rising day by day and have already reached an alarming situation. Several lawyers have passed away in the last few days only due to Covid. More so, some employees of CAT have also been tested positive recently.”
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NCLT approves Genus Paper & Boards Ltd s resolution plan for NS Papers Ltd
Posted On: 2021-02-24 00:20:19 (Time Zone: Arizona, USA)
The National Company Law Tribunal (Allahabad Bench) ( NCLT ), has issued its written order dated 23.02.2021 (NCLT Order), approving the resolution plan submitted by Genus Paper & Boards Limited (GPBL)( Resolution Plan ), as approved by the Committee of Creditors ( CoC ) of NS Papers Limited, a Company undergoing the Corporate Insolvency Resolution Process (CIRP), pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) and the regulations made thereunder (IBC).
Shares of Genus Paper & Boards Ltd was last trading in BSE at Rs.6.29 as compared to the previous close of Rs. 6.35. The total number of shares traded during the day was 44794 in over 42 trades.
Hindustan Oil Exploration s appeal against resolution plan continues to get rejected by NCLT
IANS
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Hindustan Oil Exploration Company (HOEC)s attempt to contest implementation of the Resolution Plan completed in September was struck down for the third time by NCLTs Allahabad Bench on December 21.
This a series of repeated appeals made by HOEC since 2018 which have been repeatedly dismissed by the NCLAT.
HOEC continued to repeatedly approach the judiciary system to obtain a favourable result that would move JEKPL closer towards liquidation. This would then allow HOEC to gain control of its participating interest in Kharsang Field at no cost through one of its offshore subsidiaries.