NCLT Grants 936-Day Exclusion in Lok Housing Resolution

24 Nov 2023 CW Team

The National Company Law Tribunal (NCLT) has made a landmark decision by permitting a 936-day exclusion in the resolution process of Lok Housing. This ruling stands as a significant development in company law proceedings, marking an exception that has not been granted to any company thus far.

The exclusion of 936 days is expected to have far-reaching implications for Lok Housing's resolution, providing the company with additional time for the intricacies involved in the resolution process. This decision showcases the flexibility and adaptability of legal proceedings in accommodating unique circumstances for the benefit of companies undergoing resolution.

NCLT's ruling reflects a nuanced approach to insolvency cases, recognising the complexity and time sensitivity involved in the resolution of companies. As Lok Housing navigates its resolution journey, the decision to allow this exclusion serves as a precedent that acknowledges the diverse challenges companies may face during the resolution process, further shaping the landscape of corporate insolvency proceedings in India.

Infrastructure Transport

01 Sep 2025

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..