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1-10 results from 36 for query «nclat»

4 June, 2018 4:51 PM Vedanta puts ₹5,320 crore into Electrosteel’s escrow

Billionaire Anil Agarwal-led Vedanta Limited has forayed into steel making by paying ₹5,320 crore to buy out bankrupt Electrosteel Steels under the Insolvency and Bankruptcy Code (IBC), making it the second successful resolution under the Insolvency and Bankruptcy Code. Last month, Tata Steel had bought bankrupt Bhushan Steel for ₹36,400 crore, making 32

29 May, 2018 4:24 PM RCom offers Rs.500 crore to Ericsson, NCLAT for amicable settlement

Swedish telecom gear maker Ericsson is seeking Rs. 11.55 billion ($170.22 million) from RCom and two of its units. Reliance Communications (RCom) has offered ₹500 crore for an out-of-court settlement with Swiss telecom equipment maker Ericsson while its subsidiary Reliance Infratel has reached an amicable settlement with its minority investors led by HSBC Daisy 44

22 May, 2018 4:35 PM NCLAT orders status quo on Essar Steel

The National Company Law Appellate Tribunal (NCLAT) on Tuesday ordered a status quo on the insolvency process for Essar Steel for two months as it admitted petitions of Numetal and ArcelorMittal over bidding eligibility. The tribunal directed the resolution professional (RP), committee of creditors (CoC) and the NCLT not to pass any order in the ongoing 47

22 May, 2018 10:35 AM NCLAT issues notice to Bhushan Steel RP, CoC on L&T's plea; makes Tata Steel party

New Delhi: The National Company Law Appellate Tribunal on Tuesday issued notice to the resolution professional (RP) and Committee of Creditors (CoC) of Bhushan Steel over the plea filed by its operational creditor L&T. NCLAT also impleaded Tata Steel, whose bid for the debt ridden firm has been approved, as party over L&T plea seeking to recover Rs 900 crore 76

18 May, 2018 3:20 PM Electrosteel: ‘Declare Tata bid ineligible’

Renaissance Steel has approached the National Company Law Appellate Tribunal (NCLAT) requesting it to declare “ineligible” Tata Steel’s bid for the debt-ridden Electrosteel Steels under the Insolvency and Bankruptcy Code. An NCLAT bench headed by Chairman Justice S J Mukhopadhyaya has issued a notice to Tata Steel, which was the second-highest bidder 44

9 May, 2018 3:33 PM Eveready gets stay on CCI penalty

Dry cell battery maker Eveready Industries India Ltd. has obtained a stay from the National Company Law Appellate Tribunal, on the ₹171.5 crore penalty awarded by the Competition Commission of India , the company said in a regulatory filing. EIIL preferred an appeal and stay application before the NCLAT against the CCI’s Order dated April 19, 2018, the filing 41

8 May, 2018 3:55 PM Tata Steel moves NCLAT over Liberty House bid for Bhusan Power

Tata Steel has moved the National Company Law Appellate Tribunal (NCLAT) challenging the order of NCLT, which had last month directed the CoC of debt ridden Bhushan Power & Steel to consider the bid of UK-based Liberty House. Tata Steel petition is scheduled to be heard tomorrow before a NCLAT bench headed by Chairman Justice S J Mukhopadhaya. It has challenged 42

1 May, 2018 2:04 PM NCLAT directs status quo in Electrosteel sale case

The National Company Law Appellate Tribunal (NCLAT) directed that status quo be maintained in the case pertaining to the sale of debt ridden Electrosteel Steels to Vedanta. NCLAT direction came over a petition filed by Renaissance Steel which saw its resolution application being rejected by the Committee of Creditors (CoC) of Electrosteel Steels. A two member 48

27 April, 2018 4:24 PM NCLAT to hear Numetal, ArcelorMittal pleas on May 17

Issues notices to RP, credit committee, 2 petitioners; replies to be filed in a week The National Company Law Appellate Tribunal (NCLAT) on Friday agreed to hear on May 17 the cross petitions filed by Essar Steel bidders, Numetal Ltd. and ArcelorMittal India Ltd., challenging eligibility criteria. The NCLAT issued notices to a committee of Essar Steel 49

5 April, 2018 7:58 AM SC allows RCom to sell assets

RCom will soon approach NCLAT against the NCLT order for Tower sale. In a major relief to Anil Ambani led Reliance Communications (RCom), the Supreme Court on Thursday vacated a stay on RCom asset sales in favour of Swiss telecom equipment maker Ericsson granted by the Bombay High Court, paving the way for $3 billion sale of RCom assets to Mukesh Ambani 44