NCLAT Allows John Energy to Deposit Rs 2.54 Bn Settlement
POWER & RENEWABLE ENERGY

NCLAT Allows John Energy to Deposit Rs 2.54 Bn Settlement

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.

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.

Next Story
Infrastructure Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?