https://thenfapost.com News, Facts and Analysis on Startup, Technology & Business Sat, 12 Aug 2023 14:46:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 The NFA Post News, Facts and Analysis on Startup, Technology & Business clean https://thenfapost.com/2023/08/12/nclt-approves-zee-entertainment-sony-india-merger-dismisses-all-objections/ Sat, 12 Aug 2023 13:56:57 +0000 https://thenfapost.com/?p=293215 In December 2021, Zee Entertainment and Sony Pictures reached an agreement to combine their businesses, and both companies approached the tribunal to seek approval for the merger New Delhi, NFAPost: The National Company Law Tribunal (NCLT) approved the Zee-Sony merger, according to the news agency Reuters. The NCLT had initially reserved its verdict on the […]]]> https://thenfapost.com/2023/05/23/go-first-insolvency-nclat-rules-in-favour-of-airline-upholds-nclt-order/ Tue, 23 May 2023 03:50:44 +0000 https://thenfapost.com/?p=268617 Lessors had appealed against NCLT decision to admit the airline’s insolvency plea and allow it moratorium New Delhi, NFAPost: Go First will retain its aircraft after the National Company Law Appellate Tribunal (NCLAT) dismissed appeals filed by the cash-strapped airline’s lessors. The lessors had appealed against National Company Law Tribunal’s (NCLT) decision on May 10 […]]]> https://thenfapost.com/2023/05/05/dgca-asks-go-first-to-refund-passengers-airline-scraps-flights-till-may-9/ Fri, 05 May 2023 05:34:43 +0000 https://thenfapost.com/?p=262665 -Airline has filed for bankruptcy, blames engine supplier Pratt & Whitney for cash crunch -The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First’s plea seeking voluntary insolvency resolution proceedings New Delhi, NFAPost: The Directorate General of Civil Aviation (DGCA) has asked Go First airline to refund passengers who […]]]> https://thenfapost.com/2023/05/03/go-airlines-india-limited-applies-for-bankruptcy-amid-pratt-whitney-engine-failure/ Wed, 03 May 2023 05:32:52 +0000 https://thenfapost.com/?p=261707 Mumbai, NFAPost: Go Airlines (India) Limited (“GO FIRST”), India’s third largest airline, filed an application with the National Company Law Tribunal (“NCLT”) Delhi for resolution under section 10 of the Insolvency Bankruptcy Code (“IBC”). GO FIRST has had to take this step due to the ever-increasing number of failing engines supplied by Pratt & Whitney’s […]]]> https://thenfapost.com/2022/11/21/jio-gets-nclt-nod-to-acquire-debt-laden-reliance-infratel/ Mon, 21 Nov 2022 13:52:53 +0000 https://thenfapost.com/?p=218229 The tribunal asked Jio to deposit Rs 3,720 crore in the State Bank of India (SBI) escrow account to complete the acquisition of RCOM’s tower and fibre assets Mumbai, NFAPost: The National Company Law Tribunal (NCLT) on Monday gave its approval to Jio for the acquisition of Reliance Infratel (RITL). The tribunal asked Jio to […]]]> https://thenfapost.com/2022/04/25/reliance-retail-drops-future-group-deal-after-secured-lenders-reject-it/ Mon, 25 Apr 2022 11:28:42 +0000 https://thenfapost.com/?p=171380 Kishore Biyani’s retail chain was to sell 19 companies for Rs 24,713 crore as part of an agreement announced in August 2020. Mumbai, NFAPost: Reliance Retail said it will not move on its plan to buy Future Group’s businesses after secured lenders to the Kishore Biyani-led company voted against the deal. “As per these results, […]]]> https://thenfapost.com/2021/06/23/jet-airways-to-hit-the-skies-again-nclt-okays-kalrock-jalan-consortiums-resolution-plan/ Wed, 23 Jun 2021 02:53:00 +0000 https://thenfapost.com/?p=92320 The National Company Law Tribunal (NCLT) has approved the Kalrock-Jalan consortium’s resolution plan for Jet Airways, with riders. The Mumbai bench of the NCLT has given the Directorate General of Civil Aviation (DGCA) and Ministry of Civil Aviation (MCA) 90 days from June 22 to allot slots to the airline. “Based on discussions I have […]]]> https://thenfapost.com/2021/04/09/insolvency-case-temporary-relief-for-oyos-subsidiary/ Fri, 09 Apr 2021 13:52:40 +0000 https://thenfapost.com/?p=69784 The National Company Law Appellate Tribunal has ordered a stay on the formation of committee of creditors (COC) and claimant draws in the insolvency case against Oyo’s subsidiary Oyo Hotels and Homes Pvt Ltd (OHHPL). “The NCLAT provided a stay for the formation of COC in IBC proceedings against OHHPL, a subsidiary of OYO. OHHPL […]]]> https://thenfapost.com/2021/04/07/hyd-based-firm-drags-oyo-to-nclt-for-non-payment-ritesh-denies-charges/ Wed, 07 Apr 2021 13:52:33 +0000 https://thenfapost.com/?p=69047 A Hyderabad-based hospitality company has filed an insolvency plea before the National Company Law Tribunal against the owner of Oyo Rooms, Oravel Stays Pvt Ltd, seeking payment of Rs 16 lakh. OYO, however, has denied owing Rs 16 lakh to the prosecution as they have already paid the sum to them. “A claimant is seeking […]]]>