The National Company Law Tribunal (NCLT) on Thursday refused to stay the extraordinary general meeting (EGM) called by Byju’s on March 29 to increase the authorised share capital required to enable its $200 million rights issue, granting some reprieve to the troubled edtech startup.
The National Company Law Tribunal (NCLT) on Thursday refused to stay the extraordinary general meeting (EGM) called by Byju’s on March 29 to increase the authorised share capital required to enable its $200 million rights issue, granting some reprieve to the troubled edtech startup.
The National Company Law Tribunal (NCLT) in Mumbai has accepted Union Bank of India’s plea to commence insolvency proceedings against Dheeraj Wadhawan, the former promoter of Dewan Housing Finance Ltd (DHFL), due to the company's default of Rs 3,958 crore, for which Wadhawan provided a personal guarantee. Devendra Mehta has been appointed as the resolution professional (RP) to assess lenders' claims and Wadhawan's personal assets.
Responding to a question about the likelihood of an adverse Sebi ruling against Zee CEO Punit Goenka and whether the company has a succession plan in place to deal with this situation, Gopalan said that succession planning in a large company like Zee is a natural step in the functioning of the board, notwithstanding the external factors.
The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday allowed an application filed by the administrator of Reliance Capital and directed Hinduja Group-owned IndusInd International Holdings Ltd (IIHL) to implement the resolution plan for the financial services holding company by May 27. Read on to know more:
IFFCO has moved the NCLT under sections 241 and 242 of the Companies Act 2013, alleging oppression and mismanagement.
Sony Group Corp. reportedly withdrew its agreement to merge with Zee Entertainment Enterprises Ltd. from India's National Company Law Tribunal, officially terminating the $10 billion media giant plan. Sony had earlier sent a termination notice to Zee on Jan. 22, alleging failure to meet merger conditions. The collapse leaves Sony and Zee vulnerable as rivals like Reliance Industries and Walt Disney create a formidable entity in India's media sector.
Byju's key investors -- Prosus, General Atlantic, Sofina and Peak XV -- have moved the National Company Law Tribunal (NCLT) against the embattling edtech major over its rights issue, investor sources said on Friday.
The National Company Law Appellate Tribunal on Wednesday stayed the NCLT Mumbai bench order to initiate a corporate Insolvency Resolution Process (CIRP) against Sporta Technologies, which operates the fantasy sports platform Dream 11. However, it has also directed the Interim Resolution Professional (IRP), appointed by the National Company Law Tribunal (NCLT) after suspending the board of Dream 11, not to take any further steps till the next date of hearing, scheduled for February 23.
The National Company Law Tribunal on Tuesday extended the deadline for another 60 days to complete the resolution process of grounded airline Go First. A two-member bench of the Delhi-based NCLT admitted the plea filed by the resolution professional (RP) of Go First seeking an extension of the timeline to complete the corporate insolvency resolution process (CIRP).
BharatPe co-founder and former managing director Ashneer Grover has filed a plea before NCLT seeking waiver over a petition earlier filed by him alleging oppressive conduct and mismanagement by the board of the fintech firm.
Get updates on your preferred social platform
Follow us for the latest news, insider access to events and more.
