NCLAT News

A bench comprising Justices JB Pardiwala and R Mahadevan refused to interfere with the NCLAT's April 17 order.

On March 27, the NCLT had directed all parties to maintain the status quo regarding Aakash’s shareholding until the next hearing.

They had challenged the order passed by the Bengaluru bench of the National Company Law Tribunal (NCLT), which had on February 10, 2025 directed to place their settlement offer before the new Committee of Creditors (CoC), in which US-based Glas Trust, the trustee for lenders to which Byju's owes $1.2 billion, is a member.

IDBI vs ZEEL Case: In May 2023, the Mumbai arm of the bankruptcy court dismissed IDBI Bank's petition against ZEEL, ruling that the alleged default fell within the protected period under Section 10A IBC. 

The NCLAT bench, led by Justice Ashok Bhushan, said such a ban could disrupt WhatsApp's business model in the country. WhatsApp has more than 500 million monthly active users in India.

Meta has now informed the NCLAT that the CCI order has wide ramifications for the industry as a whole and therefore, an urgent hearing in the matter will be required. 

A bench of Chief Justice D Y Chandrachud, and Justices J B Pardiwala and Manoj Misra also reversed the order of the NCLAT approving Byju's Rs 158.9 crore dues settlement with the Board of Control for Cricket in India (BCCI) and directed the cricket board to deposit the settlement amount of Rs 158.9 crore with a committee of creditors.

Byju’s Insolvency Case: The NCLAT order came with a rider that in case of failure of timely payment of the dues on the specific dates submitted in the undertaking, the insolvency proceedings would be revived automatically. 

In an email to employees, Byju Raveendran expressed that each legal hurdle has prolonged the company’s journey toward recovery.

The appellate court maintained that the lenders failed to provide any evidence to substantiate their claims.

Disagreeing with a portion of the NCLT's ruling that restricted the lessor from inspecting the engines, the NCLAT had issued its own directive to schedule an inspection within 10 days.

During the proceedings, the Committee of Creditors (CoC) asked the Jalan-Kalrock consortium to pay Rs 350 crore by August 31, as per the schedule. However, the consortium sought an extension in the schedule.

NCLAT directed aircraft lessors to approach NCLT for any remedy in the Go First insolvency proceedings matters.

Challenging the CCI order, Google said the findings are "patently erroneous and ignore" the reality of competition in India, Google's pro-competitive business model, and the benefits created for all stakeholders.

On October 20 last year, CCI slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices. In the October ruling, CCI had also ordered the internet major to cease and desist from various unfair business practices.

A two-member bench, however, declined to grant any immediate stay the operations of Competition Commission of India (CCI) penalty and said it would pass any order after hearing out other parties.

The NCLAT found that more than 99 percent of the sanctioned amount – Rs 147.6 crore by Yes Bank in Mack Star's name. It also overturned the orders of the NCLT's Mumbai bench. The appellate tribunal decision followed a petition filed by Ocean Deity Investment Holdings, which owns 82.17 percent of Mack Star, challenging the NCLT order.

NCLAT bench in its judgement today upheld the CCI's order of suspension of Amazon Future Coupons deal agreeing with CCI's order that Amazon had not made full disclosures of the information to the Commission.

Apart from this, Supertech is also barred from transferring, encumbering, alienating, or disposing of any assets. This is the second major setback for Noida-based developers in the last one year. Supertech Group said it would challenge the order before the National Company Law Appellate Tribunal (NCLAT).

Senior counsel Gopal Subramaniam, representing Amazon, submitted before the appellate tribunal that the jurisdiction and statutory authority of CCI are in question in the appeal filed by the company. Form II pertains to submission of summary of a proposed combination. While listing the matter for Monday, NCLAT also said that it would try to commence day-to-day hearing in the matter.