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Supreme court halts ArcelorMittal payment to buy Essar Steel

Friday, April 12, 2019, 9:09 PM

The Supreme Court on Friday restrained steel manufacturing giant Arcelor Mittal from acquiring Essar Steel India and ordered status quo on the March 8 order of the National Company Law Tribunal (NCLT) approving Arcelor's bid for Essar. The Arcelor's acquisition of Essar would have allowed Arcelor owner Lakshmi Mittal to begin its operations in the Indian steel market.
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NCLAT Refuses To Allow Release Of Income Tax Refunds For RCom

Saturday, March 16, 2019, 10:24 AM

The National Company Law Appellate Tribunal (NCLAT) refused to allow release of Rs.260 crore of Income Tax refunds to help Reliance Communications (RCom) pay Ericsson. Chairman Anil Ambani faces a 3-month jail term if RCom doesn't clear Ericsson's dues of Rs.550 crore with interest by March 19. RCom had already deposited Rs.118 crore with the Supreme Court registry.
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NCLAT reserves order on plea against CCI nod to Walmart-Flipkart deal

Saturday, January 26, 2019, 9:33 AM

The NCLAT has reserved its judgement over the petition filed by traders' body CAIT against fair trade regulator CCI's nod to Walmart's USD 16-billion acquisition of Flipkart. A two-member bench of the appellate tribunal headed by Justice S J Mukhopadhaya concluded its hearing on Thursday after taking note of submissions made by both sides. "Hearing concluded. Judgment Reserved," said the NCLAT.

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