NCLAT Allows John Energy to Deposit Rs 2.54 Bn Settlement

28 Mar 2024 CW Team

The National Company Law Appellate Tribunal (NCLAT) has granted permission to John Energy Limited to deposit a settlement amount of Rs 2.54 billion. This decision comes amidst ongoing legal proceedings concerning the company's financial obligations. John Energy Limited, a leading player in the energy sector, had sought approval from NCLAT to deposit the settlement amount as part of resolving its outstanding liabilities.

The settlement amount, once deposited, is intended to address the financial claims against John Energy Limited, thereby paving the way for the resolution of the legal dispute. The decision by NCLAT to permit the deposit reflects a step towards amicable settlement and resolution of the matter.

The approval by NCLAT to deposit the settlement amount underscores the cooperative approach adopted by John Energy Limited to address its financial obligations. It also signifies the company's commitment to fulfilling its responsibilities and resolving legal disputes in a timely and efficient manner.

Furthermore, the decision by NCLAT is expected to provide relief to creditors and other stakeholders involved in the legal proceedings. It offers a pathway for the orderly resolution of financial claims and facilitates the closure of the ongoing litigation against John Energy Limited.

Overall, the NCLAT's decision to permit John Energy Limited to deposit the settlement amount marks a significant development in the resolution of the company's financial liabilities. It reflects a concerted effort towards achieving a fair and equitable resolution of the legal dispute, thereby contributing to the stability and integrity of the energy sector.

Infrastructure Transport

15 Sep 2025

Cabinet Approves Key Highway and Rail Projects in Bihar Region

The Union Cabinet on Wednesday approved the four-laning of the 84.2-km Mokama-Munger section of the Buxar-Bhagalpur high-speed corridor, a key industrial region in poll-bound Bihar. The Cabinet also sanctioned the doubling of the 177-km Bhagalpur-Dumka-Rampurhat railway line, which passes through Bihar, Jharkhand, and West Bengal, at a cost of Rs 31.7 billion.The Rs 44.5 billion highway project will be constructed under the hybrid annuity model, a variant of public-private partnership. The Mokama-Munger stretch was the only remaining two-lane section of the 363-km Buxar-Bhagalpur corridor. Fou..

NGT Issues Notice on Bengaluru Twin Tunnel Project

The National Green Tribunal (NGT) on Wednesday issued notices in response to a petition filed by Bengaluru Praja Vedike and others, challenging the Bengaluru twin tunnel road project. Petitioners claim the project was “hastily announced” and bypassed mandatory environmental impact assessment procedures.Notices have been served to the Karnataka Government, Greater Bengaluru Authority, State Environment Impact Assessment Authority (SEIAA), Bengaluru Smart Infrastructure Ltd (B-SMILE), the Union Ministry of Environment, Forest and Climate Change, and project consultants.The 16.74-km twin-tube..

India’s Residential Sales to Dip Slightly in FY26

Residential sales in India’s seven major cities are projected to decline by up to 3 per cent year-on-year in FY26 to 620–640 million square feet (msf), amid a moderation in sales velocity, according to ratings agency Icra.In FY25, sales stood at 643 msf, down 8 per cent YoY, following a sharp contraction in new launches and moderated demand in the affordable and mid-income segments. This slowdown came after the sector posted a robust compound annual growth rate of 26 per cent in area sales between FY22 and FY24.Icra noted: “Having seen a strong upcycle, the sector entered an equilibrium ..