On November 7, the Supreme Court will rule on the five-year Jet Airways ownership dispute between Jalan Kalrock Consortium and creditors led by SBI. JKC claims ownership while creditors request liquidation. Chief Justice DY Chandrachud will deliver the decision before his retirement on November 10, indicating potential impacts on India’s aviation sector.
Today, On 6th September, The Supreme Court agreed to hear a plea about insolvency proceedings against ed-tech company Byju’s. This case involves the company’s financial challenges and its settlement of dues with the BCCI. Both parties are seeking an expedited hearing, and the court has stayed a previous NCLAT judgment concerning the case. The case revolves around a sponsorship agreement default with the BCCI.
Today, On 21st August, The Supreme Court ruled that asking for physical copies of documents after e-filing undermines the purpose of digital filing. This came up during a case at the National Consumer Disputes Redressal Commission (NCDRC). The court emphasized the need for effective digital filing and urged swift resolution of related issues. The progress in digital filing will be updated at the next hearing.
![[Byju's Insolvency Case] Resolution Professional (RP) Are Creating 'Chaos': Creditor To NCLT](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/08/image-44.png?resize=447%2C367&ssl=1)
The NCLAT Chennai expected to announce its decision on Byju Raveendran’s appeal against insolvency proceedings on August 2. This ruling will impact the disputed Rs.158 crore settlement between Raveendran and the BCCI. The case revolves around the initiation of insolvency proceedings against Byju’s parent company, and the source of funds used for the settlement is under scrutiny.
Yesterday, On 9th May, The Jet Airways lenders are dissatisfied with the resolution plan, citing concerns about its effectiveness. The National Company Law Appellate Tribunal’s decision to transfer ownership to the successful bidder, Jalan Kalrock Consortium (JKC), within 90 days has incurred objections. JKC’s ability to fulfill financial obligations and revive the airline is under scrutiny amidst legal disputes.
Today,26th April, The Delhi High Court ruled in favor of aircraft lessors, mandating the de-registration of leased planes and prohibiting Go First Airlines from operating them. The court also imposed restrictions on the airline’s Resolution Professional and directed them to maintain transparency. This decision addresses the complexities of insolvency proceedings in the aviation industry amidst contractual disputes.
In a significant development, Justice Rakesh Kumar, a judicial member of the National Company Law Appellate Tribunal (NCLAT), tendered his resignation following the Supreme Court’s issuance of a contempt notice against him. The notice was issued due to Kumar’s judgment that seemingly defied an interim order passed by the Apex Court. During the hearing of […]
