SC upholds NCLT’s order that allowed interim distribution of funds from escrow account of BKEL, ET LegalWorld
The Supreme Court on Monday upheld the National Company Law Appellate Tribunal’s September 19 order that allowed interim distribution of funds from the escrow account of Baleshwar Kharagpur Expressway Ltd. (BKEL), an arm of IL&FS Transportation Networks Ltd. (ITNL). A Bench led by Chief Justice D.Y. Chandrachud rejected the Infrastructure Leasing & Financial Services’ (IL&FS) […]
NCLAT upholds NCLT’s decision allowing government oversight of Delhi Gymkhana Club, ET LegalWorld
The National Company Law Appellate Tribunal (NCLAT) has upheld the National Company Law Tribunal’s (NCLT) April 1, 2022, decision allowing government intervention in the affairs of the Delhi Gymkhana Club. The order resulted in the removal of the Club’s erstwhile management, with a 15-member General Committee appointed by the Union of India now overseeing the […]