Key Points
GLAS Trust Company, representing lenders owed $1.2 billion, has requested a US bankruptcy judge to prevent Riju Ravindran, the brother of Byju's founder Byju Ravindran, from transferring more than $19 million to Board of Control for Cricket in India (BCCI) to resolve an insolvency case in India, Bloomberg reported...
On August 2, the National Company Law Appellate Tribunal (NCLAT) accepted the settlement deal between Byju Raveendran and BCCI, thus removing Byju's parent Think and Learn from the insolvency resolution process...
The control of the company has been returned to Byju Raveendran, as the NCLAT suspended the National Company Law Tribunal's (NCLT) order that had allowed the company to enter the insolvency resolution process...
You might be interested in
SC allows lenders to hold fresh bids for RCap
21, Mar, 23India Business News: Mumbai: The Supreme Court on Monday refused to stay an order by the National Company Law Appellate Tribunal (NCLAT), allowing lenders of Reliance Capi.
Go First airline gets 90-day breather from NCLT
24, Nov, 23The National Company Law Tribunal (NCLT) on Thursday extended the moratorium for the Wadia-owned airline Go First under the Corporate Insolvency Resolution Proc
NCLT grants GoFirst’s insolvency plea
10, May, 23The National Company Law Tribunal on May 10 admitted Go First’s plea for insolvency and granted protection under a moratorium from recoveries by lessors and lenders.
NCLAT stays NCLT order in Dream 11 case, directs IRP not to take any step till Feb 23
15, Feb, 24The National Company Law Appellate Tribunal (NCLAT) has stayed the NCLT Mumbai bench's order to initiate a Corporate Insolvency Resolution Process (CIRP) against Sporta Technologies, the operator of the fantasy sports platform Dream11. The stay will remain in effect until the next hearing on February 23.
Jet Airways insolvency: Creditors question source of Rs 200 cr deposited by Jalan-Kalrock Consortium
04, Oct, 23The creditors of Jet Airways have raised concerns over the source of Rs 200 crore deposited by the Jalan-Kalrock Consortium, stating that it does not align with the resolution plan. Additional Solicitor General N Venkataraman, representing lenders including SBI, expressed apprehensions about the source of funds and possible money laundering. The consortium claims that a part of the money came from another source while the majority was paid by Murari Lal Jalan. The National Company Law Appellate Tribunal has directed the matter to be listed for the next hearing on October 12.
Zee CEO Punit Goenka moves NCLAT against NCLT order
24, Feb, 23Zee Enterprises’ MD & CEO Puneet Goenka on Thursday moved NCLAT challenging the order of the National Company Law Tribunal (NCLT) which admitted an IndusInd Bank plea for insolvency proceedings against the firm.
Trouble mounts for Byju’s founder & CEO! ED seeks look out circular against Byju Raveendran, says report
22, Feb, 24India Business News: The Directorate of Enforcement (ED) has requested the Bureau of Immigration (BOI) to issue a look out circular (LOC) against Byju Raveendran, the foun
NCLT allows BCCI insolvency plea against Byju’s parent company for defaulting on Rs 158.9 crore
18, Jul, 24Indisputable that firm availed BCCI’s services through sponsorship rights, says NCLT, dismissing opposition to insolvency on grounds that deal involved transfer of some rights only.
Zee shares rise after NCLAT stays NCLT’s order to initiate insolvency proceedings
24, Feb, 23Zee Entertainment's share price rose over 3 per cent after the National Company Law Appellate Tribunal (NCLAT) stayed a corporate insolvency resolution order (CIRP) order passed by National Company Law Tribunal (NCLT) on Thursday
‘Creditors to lead Go Air insolvency’
05, May, 23Established in 2005, the Mumbai-based airline filed for insolvency at the Principal Bench of New Delhi as the company’s registered office is based in the national capital and hence the jurisdiction for insolvency proceedings falls in Delhi.