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 Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..