🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
NCLAT upholds Adani Goodhomes’ resolution plan for Radius Estates
Livemint
·
1y ago
Medial
Adani Goodhomes' resolution plan to acquire bankrupt real estate company Radius Estates has been upheld by the National Company Law Appellate Tribunal (NCLAT). The decision rejects challenges from creditors and debenture holders who claimed collusion between the resolution professional and HDFC Ltd. Adani Goodhomes, a subsidiary of Adani Infrastructure and Developers, offered approximately ₹76 crore to creditors, resulting in a 96% haircut, and promised to complete the Mumbai residential project at no additional cost to homeowners. The bid had previously received approval from over two-thirds of the company's creditors and the NCLAT's ruling affirms the earlier decision by the Mumbai bench of the National Company Law Tribunal.
View Source
Related News
NCLAT upholds NCLT order approving Sarda Energy’s bid for SKS Power | Mint
Livemint
·
11m ago
Medial
- The National Company Law Appellate Tribunal upheld the resolution plan of Sarda Energy and Mining Ltd for bankrupt SKS Power Generation (Chhattisgarh). - Other resolution applicants, including Torrent Power, Jindal Power, and Vantage Point Asset Management, challenged the approved resolution plan but their plea was dismissed. - In October 2023, the NCLT had directed lenders of SKS Power Generation to reconsider SEML's resolution plan. - The plan faced subsequent challenges and was brought before the NCLAT, which overturned the earlier NCLT decision and granted SEML the ability to seek final approval. - On 13 August, the NCLAT ruled in favor of Sarda Energy, rejecting objections against the resolution plan. - The insolvency proceedings for SKS Power Generation began in April 2022 after lenders filed claims amounting to ₹1,890 crore.
View Source
NCLAT issues notice to Adani Power on plea contesting acquisition of Lanco Power | Company Business News
Livemint
·
9m ago
Medial
The National Company Law Appellate Tribunal (NCLAT) has issued a notice to Adani Power Ltd in response to a plea challenging its approved resolution plan to acquire Lanco Amarkantak Power Limited (LAPL). The appeal was filed by Indian Bank's stressed asset management division, alleging that its claim was improperly rejected by the resolution professional. Despite the challenge, NCLAT declined to impose an interim stay on the plan and only sought responses from the parties involved. Adani Power aims to enhance its power generation capacity through the acquisition.
View Source
NCLAT sets aside plea filed against NCLT order approving sale of Reliance Broadcast Network
Livemint
·
8m ago
Medial
The National Company Law Appellate Tribunal (NCLAT) has dismissed appeals against the National Company Law Tribunal (NCLT) order approving bids of Sapphire Media for Reliance Broadcast Network Ltd. The NCLAT upheld the NCLT's approval of Sapphire Media's resolution plan for Reliance Broadcast, which operates FM radio business under the brand Big 92.7 FM. The unsuccessful resolution applicants had challenged the process adopted by the resolution professional but the NCLAT found no irregularities and dismissed the appeals. The resolution plan of Sapphire Media was approved by the Committee of Creditors and forwarded to the NCLT, which approved it.
View Source
Hindustan National Glass: NCLAT decides against change of RP, directs NCLT to decide on bids
Economic Times
·
1m ago
Medial
The insolvency appellate tribunal, NCLAT, overturned the NCLT's decision to replace the resolution professional for Hindusthan National Glass Industries (HNG). NCLAT instructed NCLT to proceed with bid approvals per the Supreme Court's directions. The Supreme Court had set aside NCLT's previous orders, as AGI Greenpac's resolution plan lacked necessary CCI approval. The court required HNG's creditors to reevaluate resolutions, particularly considering Independent Sugar Corporation. NCLAT allowed NCLT to finalize Insolvency Resolution Process.
View Source
NCLT approves Sarda Energy’s resolution plan for SKS Power | Mint
Livemint
·
1y ago
Medial
The National Company Law Tribunal (NCLT) has approved Sarda Energy and Mining's (SEML) resolution plan for SKS Power Generation in Chhattisgarh. SEML's plan was initially remanded for reconsideration in October 2023 but was later challenged at the National Company Law Appellate Tribunal (NCLAT), which overturned the decision. The final approval allows SEML to proceed with the resolution plan, which will cover nearly all dues owed to the committee of creditors. SKS Power's insolvency proceedings began in April 2022 with claims totaling ₹1,890 crore.
View Source
Supreme Court to hear Jet Airways lenders' plea against NCLAT order on Friday
Livemint
·
1y ago
Medial
The Supreme Court has postponed the hearing on Jet Airways' lenders' plea against the approval of the resolution plan proposed by the Jalan-Kalrock consortium. The lenders, led by the State Bank of India, argued that the decision of the National Company Law Appellate Tribunal (NCLAT) deviated from a previous Supreme Court ruling. The NCLAT allowed JKC to adjust a performance bank guarantee of ₹150 crore towards its obligation. The tribunal had directed the transfer of Jet Airways to JKC within 90 days. The outcome of the case remains uncertain as lenders seek to contest the resolution plan.
View Source
Torrent Power challenges NCLT nod to Sarda Energy’s resolution plan for SKS Power | Mint
Livemint
·
1y ago
Medial
Torrent Power has filed a petition with the National Company Law Appellate Tribunal (NCLAT) challenging the approval of Sarda Energy and Mining's (SEML) resolution plan for SKS Power Generation. The Mumbai bench of the National Company Law Tribunal (NCLT) had recently approved SEML's bid, rejecting objections raised by Torrent Power. Torrent Power claimed that the selection process was discriminatory and that it had proposed the highest upfront payment. The petition will be heard by a three-member bench of the NCLAT on August 20.
View Source
Max Estates takes over Delhi One project in Noida
VCCircle
·
4m ago
Medial
Max Estates Ltd has taken over the stalled Delhi One project in Noida after receiving approvals from corporate dispute resolution authorities. The project, now fully owned by Max Estates, involves a Rs 1,400 crore investment to settle liabilities and develop 2.5 million square feet of ultra-luxury residences and premium office spaces. Expected to generate over Rs 2,000 crore in sales, the revival aligns with Max Estates’ focus on premium real estate in the Delhi-NCR region.
View Source
At long last, Jet Airways revival in sight
Livemint
·
1y ago
Medial
Jet Airways has been given a lifeline as an appellate tribunal has directed its lenders to hand over the company to the Jalan-Kalrock consortium within 90 days. The National Company Law Appellate Tribunal (NCLAT) upheld the resolution plan for the grounded airline, which has been non-operational since 2019. The consortium will need to obtain an air operator's certificate to complete the handover process. The tribunal has also instructed the lenders to create security on three Dubai-based properties offered by the consortium. The lenders are expected to challenge the NCLAT order in the Supreme Court.
View Source
RCap resolution: NCLAT seeks Hinduja’s reply on lenders’ plea to forfeit equity | Mint
Livemint
·
11m ago
Medial
The National Company Law Appellate Tribunal (NCLAT) has issued notice to IndusInd International Holdings Ltd (IIHL), a Hinduja Group company, regarding a plea filed by lenders of Reliance Capital seeking forfeiture of ₹2,750 crore of equity if IIHL fails to implement the resolution plan. The lenders are also seeking interest payment on the debt component of ₹7,300 crore. The matter will be heard on 30th September. The lenders have been at odds with Hinduja Group over the implementation of the plan, which involves IIHL taking over Reliance Capital for ₹9,861 crore.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
