Tag: Nclt

New Delhi: The Supreme Court on Friday restrained steel manufacturing giant ArcelorMittal from acquiring Essar Steel India and ordered status quo on the March 8 order of the National Company Law Tribunal (NCLT) approving Arcelor’s bid for Essar. The Arcelor’s acquisition of Essar would have allowed Arcelor owner Lakshmi Mittal to begin its operations in […]

New Delhi: The Chandigarh bench of National Company Law Tribunal (NCLT) has approved the proposed merger of telecom infrastructure companies Bharti Infratel and Indus Towers. “National Company Law Tribunal (NCLT), Chandigarh Bench, vide its order dated May 31, 2019, has sanctioned the scheme of amalgamation and arrangement between Indus Towers Limited (transferor company) and Bharti […]

Mumbai: State Bank of India-led consortium of lenders Monday decided to send the grounded Jet Airways to the National Company Law of Tribunal (NCLT) as they have not yet received any concrete proposal for the airline. The decision was taken after a meeting of the lenders. “After due deliberations, the lenders have decided to seek […]

Mumbai: The National Company Law Tribunal (NCLT) has approved the sale of IL&FS’s education business, Schoolnet India Ltd, to Lexington Equity Holdings Ltd (LEHL). As per the deal, LEHL will service the entire debt of Schoolnet and will pay equity of around Rs 7.39 crore to IL&FS, the parent company. LEHL already holds a 26.13 […]