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Business Standard
18-07-2025
- Business
- Business Standard
Reliance Infrastructure receives NCLAT breather from insolvency proceedings
The National Company Law Appellate Tribunal (NCLAT) Delhi bench on Friday stayed insolvency proceedings against Reliance Infrastructure. A bench of the National Company Law Tribunal (NCLT) had directed the initiation of insolvency proceedings against the company on a plea by IDBI Trusteeship, alleging a default of around ₹90 crore by the Anil Ambani-led company. Reliance Infrastructure, however, told the appellate tribunal that all outstanding dues, including interest, had been fully paid. Taking note of the submission, the NCLAT granted IDBI Trusteeship time to reconcile the payments with its records and posted the matter for hearing on August 27. "In continuation of our earlier letters dated June 4, 2025, and June 6, 2025, and pursuant to Regulation 30 of the Listing Regulations, we wish to inform that in the appeal filed by the Company, the Hon'ble National Company Law Appellate Tribunal, New Delhi (NCLAT), today in furtherance of the order dated June 4, 2025, wherein the order dated May 30, 2025, was suspended, has been pleased to stay the order dated May 30, 2025, and the Corporate Insolvency Resolution Process against the Company. The next date in the matter is August 27, 2025. The order of the Hon'ble NCLAT shall follow upon receipt of the same. We request you to take the same on record," Reliance Infrastructure told the stock exchanges.
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Business Standard
18-07-2025
- Business
- Business Standard
NCLAT stays insolvency proceedings against Reliance Infrastructure
The National Company Law Appellate Tribunal (NCLAT) Delhi bench on Friday stayed insolvency proceedings against Reliance Infrastructure. A bench of the National Company Law Tribunal (NCLT) had directed the initiation of insolvency proceedings against the company on a plea by IDBI Trusteeship, alleging a default of around ₹90 crore by the Anil Ambani-led company. Reliance Infrastructure, however, told the appellate tribunal that all outstanding dues, including interest, had been fully paid. Taking note of the submission, the NCLAT granted IDBI Trusteeship time to reconcile the payments with its records and posted the matter for hearing on August 27. "In continuation of our earlier letters dated June 4, 2025, and June 6, 2025, and pursuant to Regulation 30 of the Listing Regulations, we wish to inform that in the appeal filed by the Company, the Hon'ble National Company Law Appellate Tribunal, New Delhi (NCLAT), today in furtherance of the order dated June 4, 2025, wherein the order dated May 30, 2025, was suspended, has been pleased to stay the order dated May 30, 2025, and the Corporate Insolvency Resolution Process against the Company. The next date in the matter is August 27, 2025. The order of the Hon'ble NCLAT shall follow upon receipt of the same. We request you to take the same on record," Reliance Infrastructure told the stock exchanges.
Time of India
04-06-2025
- Business
- Time of India
Asset freeze: NCLAT denies relief to Gensol
NEW DELHI: National Company Law Appellate Tribunal (NCLAT) on Wednesday declined to stay NCLT order directing to freeze assets of Gensol, its promoters, and related entities. It has directed two Gensol Group entities - BluSmart Premium Feet and Matrix Gas and Renewable - to approach Ahmedabad bench of the National Company Law Tribunal NCLT with their plea, where the matter has been listed for hearing on June 12. Passing an order on plea filed by the ministry of corporate affairs, a vacation bench of NCLT had on May 28 directed to freeze assets of Gensol, its promoters, and related entities. agencies Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
04-06-2025
- Business
- Time of India
Anil Ambani's Reliance Infra says NCLAT suspends NCLT order admitting co into insolvency; shares edge up over 10%
In a major relief to Reliance Infrastructure , the National Company Law Appellate Tribunal ( NCLAT ) on Wednesday suspended the National Company Law Tribunal's ( NCLT ) order that had admitted the company into the Corporate Insolvency Resolution Process (CIRP). Shares of the Anil Ambani-owned company skyrocketed, trading at Rs 378.35 apiece on the BSE up 10.64 per cent as 3.10 PM on Wednesday. In a regulatory filing to the stock exchanges, the company said, 'In the appeal filed, the Hon'ble National Company Law Appellate Tribunal, New Delhi (NCLAT), today has suspended the Order dated May 30, 2025 passed by National Company Law Tribunal, Mumbai in case no. C.P. (IB)/624(MB)2022, admitting the Company into Corporate Insolvency Resolution Process.' Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo (More to come)
Time of India
19-05-2025
- Business
- Time of India
NCLAT upholds insolvency order for Future Ideas Company Limited
National Company Law Appellate Tribunal ( NCLAT ) on Monday upheld NCLT's order admitting Future Ideas Company Limited (FICL), part of the Future Group, into insolvency over dues of ₹122.83 crore. National Company Law Tribunal (NCLT), Mumbai, admitted FICL into insolvency last month in an insolvency petition filed by Axis Trustee Services , representing Franklin Templeton Asset Management (India) Pvt Ltd as its debenture trustee. A debenture trustee is a body representing the interests of debenture holders while holding debentures for them. The debt arose from non-convertible debentures issued by FICL in 2018, according to terms agreed under Debenture Trust-cum-Mortgage Deed (DTMD).
