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NCLAT set asides show cause notice against lenders over liquidation of SARE Realty Projects without bids, ET RealEstate

Sare Realty Projects: The appellate tribunal said there is an "error in the approach" of the National Company Law Tribunal (NCLT) for taking a decision regarding the liquidation of a corporate debtor (CD) and the lenders have to complete all the steps regarding resolution. ....

New Delhi , Sunils Kakkad , Supreme Court , National Company Law Tribunal , National Company Law Appellate Tribunal , New Delhi Bench , Bankruptcy Code , Corporate Debtor , Sare Realty Projects , Insolvency Amp Bankruptcy Code , Are Realty Projects Liquidation ,

NCLAT rejects Jindal Power plea to allow its bid for Tuticorin Coal Terminal

The NCLT allowed it to participate and submit the Resolution Plan to maximise its value. However, it said this opportunity shall be subject to compliance with the provisions contained in CIRP regulations. However, as there was a contradiction in the NCLT order on the one hand, it allowed submission of the resolution plan by JPL for maximisation, but on the other hand, it sought compliance with the CIRP Regulations, and the RP requested clarification from the tribunal. ....

Tamil Nadu , Committee Of Creditors , National Company Law Tribunal , National Company Law Appellate Tribunal , Jindal Power Ltd , Jindal Power , Tuticorin Coal , Mumbai Bench , Tuticorin Coal Terminal , Corporate Insolvency Resolution Process , Resolution Plan , Bankruptcy Code , Corporate Debtor , Coal Terminal , North Cargo Berth , Insolvency Appellate Tribunal ,