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Future Group gets NCLT nod to meet on sale of biz to RIL

Future Group gets NCLT nod to meet on sale of biz to RIL
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Suchitra Kanuparthi , Chandra Bhan Singh ,

RHI Magnesita's two Indian businesses merge with Orient Refractories Limited


Synopsis
“From the material on record, the Scheme of Amalgamation appears to be fair and reasonable and is not violative of any provisions of law and is not contrary to the public interest,” NCLT bench headed by justices Suchitra Kanuparthi and Rajesh Sharma passed the order dated 5th of May.
Agencies
The proposed amalgamation will lead to simplification of the corporate structure and consolidation of the India businesses of the RHIM group,
The National Company Law Tribunal (NCLT) has approved the scheme of amalgamation of Indian subsidiaries of RHI Magnesita, a global refractory manufacturing company that will make the two subsidiary companies RHI Clasil and RHI India to be merged into the public listed entity ....

Rajesh Sharma , Parmod Sagar , Suchitra Kanuparthi , National Company Law Tribunal , National Company Law Appellate Tribunal , Orient Refractories Limited , Rhi Magnesita , Product Portfolio , ராஜேஷ் ஷர்மா , பார்மோட் சாகர் , சூச்சித்ர கணுபார்த்தி , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , ஆரியெஂட் பயனற்றவை வரையறுக்கப்பட்டவை , ப்ராடக்ட் போர்ட்‌ஃபோலீயோ ,

NCLT admits insolvency proceedings against Tops Security


NCLT admits insolvency proceedings against Tops Security
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Synopsis
​​Punjab National Bank (International) Ltd had on March 16 last year approached the tribunal seeking initiation of corporate insolvency resolution process against Topsgrup after its UK-based subsidiary The Shield Guarding Company allegedly defaulted on dues of over ₹136 crore.
Agencies
Shield Guarding s loans were declared a NPA in November 2015.
The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Topsgrup Services and Solutions, popularly known as Tops Security.
The bench has also appointed chartered accountant Rajendra Karanmal Bhuta as interim resolution professional (IRP) to oversee the company’s day-to-day affairs and revival plans. ....

Rajendra Karanmal Bhuta , Suchitra Kanuparthi , Topsgrup Services , National Company Law Tribunal , Punjab National Bank International Ltd , National Bank , United Kingdom Based , Shield Guarding Company , Chandra Bhan Singh , Tops Security , Topsgrup Services And Solutions , சூச்சித்ர கணுபார்த்தி , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , பஞ்சாப் தேசிய வங்கி சர்வதேச லிமிடெட் , தேசிய வங்கி , ஒன்றுபட்டது கிஂக்டம் அடிப்படையிலானது , கவசம் பாதுகாத்தல் நிறுவனம் , சந்திரா பன் சிங் , டாப்ஸ் பாதுகாப்பு ,