Mumbai: The new board of IL&FS Group on Wednesday submitted the progress report to the National Company Law Tribunal, Mumbai (NCLT). According to the company, a “Report on Progress and Way Forward” has been submitted with the Ministry of Corporate Affairs, which filed the same with the NCLT. “The report[Read More…]
Tag: National Company Law Tribunal
Mumbai: L&T’s ex-worker alleges mismanagement of employee fund
Uday Dixit, a former employee of Larsen and Toubro (L&T) filed a petition before the National Company Law Tribunal (NCLT) against chief A M Naik, alleging the company committed fraud on shareholders and its employees. The petitioner Dixit sought action against the company and its major, Naik, accusing oppression and[Read More…]
Tribunal dismisses Cyrus Mistry’s plea against removal as Tata Sons chairperson
The National Company Law Tribunal (NCLT) on Monday dismissed a petition filed by Cyrus Mistry challenging his dismissal as chairman of Tata Sons. “We have not found any merit in the petition,” the law tribunal said. “The management is more accountable to shareholders,” it said while ruling in favour of[Read More…]
Arrange Rs 2,000 cr before next hearing, SC tells Jaypee
The Supreme Court on Monday told Jaypee Associates to keep Rs 2,000 crore ready before its next hearing as it refused to permit it a part deposit of Rs 400 crore by Friday. A bench of Chief Justice Dipak Misra, Justice AM Khanwilkar and Justice DY Chandracud asked the real[Read More…]