New Delhi: The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea by capital market regulator Sebi challenging the approval given by NCLT Guwahati to the resolution plan of Assam Company India. A three-member bench headed by NCLAT Chairperson Justice S J Mukhopadhaya also gave a go ahead to the Securities and Exchange Board of India (Sebi) to take steps against promoters, directors or officials of Assam Company IndiaNSE 0.00 % if they are found violating listing laws. <\/p>\n
Sebi had challenged the NCLT order of September 20, 2018, approving the resolution plan of Abu Dhabi-based BRS Ventures Investments for Assam Company. The resolution plan has provisions to delist Assam Company from National Stock Exchange and BSE. <\/p>\n
The appellate tribunal ruled that the Sebi’s appeal was “not maintainable” in the “absence of any violation of the provisions” of the Insolvency & Bankruptcy Code. <\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea by capital market regulator Sebi challenging the approval given by NCLT Guwahati to the resolution plan of Assam Company India. A three-member bench headed by NCLAT Chairperson Justice S J Mukhopadhaya also gave a go ahead to the Securities and Exchange Board of India (Sebi) to take steps against promoters, directors or officials of Assam Company IndiaNSE 0.00 % if they are found violating listing laws. Sebi had challenged the NCLT order of September 20, 2018, approving the resolution plan of Abu Dhabi-based BRS Ventures Investments for […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-289799","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/289799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=289799"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/289799\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=289799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=289799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=289799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}