Tag
National Company Law Tribunal
7 articles
Recent regulatory filings and tribunal decisions highlight ongoing corporate restructuring and resolution activities in India. The National Company Law Tribunal (NCLT) approved several plans, including a repayment plan for personal guarantor Mrs. Phool Kunwar Bai Patwa and a capital reduction for Royal Securities Ltd and Xerox India, facilitating exits for shareholders and addressing capital reserve deficits. Simultaneously, the NCLT dismissed insolvency petitions against Phyto Biotech and claims by former IL&FS employees, underscoring jurisdictional limitations and time-barring issues. Finally, an auditor issued a disclaimer opinion for Rajeswari Infrastructure due to insufficient audit evidence, revealing material uncertainties and improper classification of liabilities.
Vikas WSP Board Meeting for FY26 Results
Vikas WSP Limited, under corporate insolvency resolution, intimates a suspended board meeting on May 28, 2026.
The meeting agenda includes approval of audited financial results for Q4 and FY ending Ma
NCLT Dismisses IL&FS Ex-Employees' Dues Claims
NCLT Mumbai disposes of applications by three ex-IL&FS employees seeking payment of outstanding post-cut-off date dues.
Tribunal rules it lacks jurisdiction over post 15-Oct-2018 claims, directing emp
NCLT Dismisses Prithvi Finvest's Insolvency Petition Against Phyto Biotech
NCLT Kolkata dismisses insolvency petition filed by NBFC Prithvi Finvest against Phyto Biotech for ₹11.43 crore debt due to being time-barred.
Corporate Debtor Phyto Biotech opposed admission citing l
NCLT Approves Phool Kunwar Bai Patwa Repayment Plan
NCLT Indore approves repayment plan for personal guarantor Mrs. Phool Kunwar Bai Patwa to Patwa Automotive with 49-day delay condoned.
Plan provides 4.22% recovery to Bank of Baroda on ₹37.59 crore cl
Royal Securities NCLT Approves ₹51.36Cr Capital Reduction
NCLT Kolkata approves Royal Securities Ltd's petition to reduce securities premium by ₹51.36 crore to adjust a deficit in capital reserve arising from a past merger.
The reduction is a book entry that
Rajeswari Infrastructure Auditor Issues Disclaimer Opinion
Auditor issues disclaimer of opinion on Rajeswari's Q1 FY26 results due to insufficient audit evidence and material uncertainties.
Company exited CIRP on Jan 13, 2026; monitoring committee now manages
NCLT Approves Xerox India Share Capital Reduction
NCLT Chandigarh approves Xerox India's capital reduction to cancel 1.5 million public shares at ₹74.10 per share.
Reduction provides exit for 10,622 public shareholders holding 3.34% stake in the unli