+
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
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?