Conference organized on Maritime Amrit Kaal Vision 2047 (See 'Corp Brief') PMLA -Bail application can be dismissed as petitioner failed to satisfy conditions for grant of bail : HC (See 'Legal Desk') CSIR, NIScPR organize national workshop to celebrate World Intellectual Property Day (See 'Corp Brief') SEBI Act - Appellants have failed to substantiate their claim of financial distress nor have they brought any new fact or circumstances requiring grant of interim relief : SAT (See 'Legal Desk') ACC delivers lifetime highest annualised PAT (See 'Corp Brief') Trade Mark Act - Marks are visually phonetically and deceptively similar to Plaintiffs' trademarks : HC (See 'Legal Desk') SJVN inaugurates First Multi-purpose Green Hydrogen Pilot Project (See 'Corp Brief') IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC (See 'Legal Desk') REC to extend loan of Rs 1869 Cr for Kiru Hydro Electric Project (See 'Corp Brief') IBC - Corporate Insolvency Resolution Process can be initiated for failure to repay debt due and payable : NCLT (See 'Legal Desk') CCO declares grading of coal and lignite mines (See 'Corp Brief') SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC (See 'Legal Desk') PM addresses Conference on Disaster Resilient Infrastructure (See 'Corp Brief') SARFAESI Act - Award of interest on auction money at rate applicable to fixed deposits is not a correct view and rate of interest deserves to be enhanced: SC (See 'Legal Desk') CCI okays subscription to debentures of Napino Auto by IFC (See 'Corp Brief') Constitution of India - Writ jurisdiction of Court cannot be used by party for collecting evidence and documents against another party, against whom petitioner has pending disputes : HC (See 'Legal Desk') World Energy Congress 2024: Power Secy, Ambassador to Netherlands inaugurate India Pavilion (See 'Corp Brief') PMLA - Considering money trail and involvement of applicant in crime he is not entitled for anticipatory bail : HC (See 'Legal Desk') Competition Act - Informant has neither referred to any particular agreement nor provided any document which suggest existence of anti-competitive agreement : CCI (See 'Legal Desk') CSIR implements new in-house 'Accounts Manager Software' for financial management (See 'Corp Brief') PMLA - Applicant is not entitled for grant of anticipatory bail u/s 45 of PMLA as Court does not find any reasonable ground to believe that applicant is not guilty of crime : HC (See 'Legal Desk') SARFAESI Act - Petition has been filed to overreach recovery proceedings, wherein Petitioners have been found to be liable to pay certain amount so as to circumvent provisions of statutory appeal : HC (See 'Legal Desk') IREDA reports All-Time High Annual Net Profit, NPAs below 1% (See 'Corp Brief') SARFAESI Act - District Magistrate is under statutory obligation to decide application u/s 14 of the SARFAESI Act within thirty days : HC (See 'Legal Desk') IBC - Wilful defaulter proceeding cannot be relatable to recovery of debt but is merely an off-shoot of debt : HC (See 'Legal Desk') Competition Act - Since it is agreement between enterprise and end consumer, same is not covered within ambit of Section 3(4) of Act: CCI (See 'Legal Desk') Govt announces election of 11 members Veterinary Council of India (See 'Corp Brief') Companies Act - Charges of professional misconduct in SCN are proved for which monetary penalty can be imposed : NFRA (See 'Legal Desk') PMLA - Application for anticipatory bail can be rejected as there is failure on part of applicant to appear before trial Court despite service of bailable warrant : HC (See 'Legal Desk') IBC - There is no scope of interference in writ petition since there is no arbitrariness, mala fides or palpably illegality in impugned order : HC (See 'Legal Desk')

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1630 M&A cases pending before NCLT

Published: Mar 14, 2018

By TIOLCORPLAWS News Service

NEW DELHI, March 14, 2018: The MoS for Corporate and Law & Justice, Mr P.P. Chaudhary in Parliament stated that the Company Law Board (CLB) set up under Companies Act stands dissolved with the setting up of National Company Law Tribunal (NCLT). According to him, as on March 12, 2018, only one case u/s 55(3) of the Companies Act, 2013 was pending before the NCLT.

Mr Chaudhary further stated that a total of 9,073 cases were under consideration in NCLT as on January 31, 2018, including 1,630 cases of Merger and Amalgamation, 2,511 cases of insolvency and 4,932 cases under other sections of Companies Act.

All efforts are being taken to dispose off the cases as per the time limits laid down in the Companies Act and the Insolvency and Bankruptcy Code, 2016. Systems and procedures including electronic or Information Technology systems are being used on extensive basis to ensure quick disposal of cases.

 

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