Ahmedabad: The National Company Law Tribunal (NCLT) has approved the equal distribution of the Gujarat-based Vadilal Group after a prolonged legal battle. Managed by the Gandhi family, the Vadilal Group has encountered internal conflicts over division for quite some time. The NCLT has now delivered its verdict on the demerger of the business, estimated to be valued at 3400 crores. The tribunal pronounced its order in a petition filed by Virendra R. Gandhi, with Vadilal International Pvt. Ltd....Read More

Update on 4 September on the story below: The Gujarat High Court has stayed NCLT order _______________ Ahmedabad: Ahmedabad headquartered Rasna Pvt Ltd, the country's leading beverage company, has suffered a major blow in its application to the National Law Tribunal for non-payment of Rs 71 lakh owed to Raigad-based Bharat Road Carrier Pvt Ltd. The NCLT's Ahmedabad bench has suspended the company's board after giving a verdict to hand over the entire management of the company to an interim r...Read More

Ahmedabad: The Ahmedabad bench of National Company Law Tribunal (NCLT) today cleared steel major ArcelorMittal's Rs 42,000 crore resolution plan for debt ridden Essar Stee'sl takeover. The L N Mittal led ArcelorMittal was trying to acquire bankrupt Essar Steel , which has a 10MTPA steel plant in the western state of Gujarat, since 2017.Committee of Creditors in October last year but was challenged before the National Company Law Appellate Tribunal (NCLAT) which had directed the NCLT Ah...Read More