NCLT Kochi Restrains Popular Finance Group Companies From Alienating Assets In SFIO-Initiated Winding-Up Pleas

The National Company Law Tribunal (NCLT) at Kochi has restrained Mary Rani Popular Nidhi Limited and other group companies from creating any third-party interest in, transferring, alienating, encumbering, or mortgaging its movable and immovable assets while considering a winding-up petition filed by the Union of India through the Serious Fraud Investigation Office (SFIO). The development comes months after the Kerala High Court closed a plea filed by the MRPN Minority Shareholders Customers...

NCLT New Delhi Rejects Plea To Shift Chennai Bench Case, Finds No Ground For Alleged Bias

On 20 May, the Principal Bench of the National Company Law Tribunal (NCLT) at New Delhi dismissed a transfer application seeking shifting of a pending company petition from the NCLT Chennai Bench-II to another Bench, holding that vague and unsubstantiated allegations of bias cannot justify transfer of proceedings. President Justice Anupinder Singh Grewal reiterated that courts cannot entertain such requests based on dissatisfaction with earlier outcomes, as doing so would encourage bench...

NCLAT Refuses Stay On EOGM For Removal Of Jagran Prakashan Independent Directors

The New Delhi National Company Law Appellate Tribunal (NCLAT) on 26 May declined to stay the Extraordinary General Meeting (EOGM) convened for the removal of independent directors of Jagran Prakashan Limited (JPL) and disposed of the appeal filed by the directors. Judicial Member Justice Yogesh Khanna and Technical Member Ajai Das Mehrotra heard the appeal against the order of the NCLT Allahabad dated 23 April 2026. The Bench observed: “....what appears is the inter mingling of various issues...

Oppression, Mismanagement Disputes Cannot Be Referred To Arbitration: NCLT Chandigarh

The National Company Law Tribunal (NCLT) at Chandigarh has held that oppression and mismanagement disputes of the nature raised before it cannot be referred to arbitration as such matters fall within the tribunal's exclusive statutory jurisdiction and cannot be privately adjudicated. A bench of Judicial Mmeber Khetrabasi Biswal and Technical Member Shishir Agarwal held, "We are of the view that disputes of the nature raised in the present Petition under Sections 241-242 of the Companies Act,...

Supreme Court Sets Aside HC Ruling In Birla Corp AGM Vote Dispute; Says Majority Trustees Can Authorise Voting

The Supreme Court on Tuesday set aside a Calcutta High Court ruling that had held that once an e-vote is cast in the Annual General Meeting (AGM) of Birla Corporation Ltd., it could not subsequently be invalidated through later communications. The High Court had also held that the first vote cast on behalf of the societies must prevail. A Bench of Justices Vikram Nath and Sandeep Mehta held that the Division Bench erred in concluding that trustees could bind the societies only if all trustees...

NCLT New Delhi Allows First Motion In CDIL–CSPL Demerger Scheme, Orders Creditors' Meeting

On 14 May, the New Delhi Bench of the National Company Law Tribunal (NCLT) passed its first motion order in the joint application filed by Continental Device India Pvt Ltd (CDIL), the demerged company, and CDIL Semiconductors Pvt Ltd (CSPL), the resultant company. Judicial Member Bachu Venkat Balaram Das and Technical Member Ravindra Chaturvedi allowed the application and issued directions for processing the proposed scheme of arrangement. CDIL, incorporated in 1964, manufactures semiconductor...

Pending Company Winding-Up Cases Before HC Transferable To NCLT Unless At Irreversible Stage: Calcutta HC

The Calcutta High Court has held that pending company winding-up petitions before High Courts can be transferred to the National Company Law Tribunal even after admission, a winding-up order, and appointment of an Official Liquidator, so long as the proceedings have not reached an irreversible stage.Relying on Supreme Court rulings on transfer of winding-up proceedings, a Division Bench of Justice Debangsu Basak and Justice Shabbar Rashidi observed: “Post admission of a winding up petition,...

Supreme Court Issues Notice In Plea Challenging HC Order Barring Registered Office Shift Pending NCLAT Appeals

On Friday, 22 May, the Supreme Court issued notice on a plea filed by Hindusthan National Glass & Industries Ltd, a corporate debtor, challenging the Calcutta High Court judgment dated 15 May 2026. The judgement had held that the company could not shift its registered office from Kolkata to Mumbai while appeals against its insolvency resolution plan remained pending before the NCLAT.A Division Bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe, while issuing notice, declined to...

Delhi High Court Stays MCA Penalty Orders Against Microsoft CEO Satya Nadella, LinkedIn

The Delhi High Court recently stayed orders imposing penalties on Microsoft CEO Satya Nadella, LinkedIn chief executive Ryan Roslansky, LinkedIn Technology Information Pvt. Ltd., and several of its current and former directors over alleged violations of significant beneficial ownership disclosure norms under company law. A Bench of Justice Anish Dayal issued notice in the matter and stayed the impugned orders till the next date of hearing. “Having appreciated the submissions advanced on behalf...

Only Central Government Can Order SFIO Probes, Not Company Tribunals: NCLAT

The National Company Law Appellate Tribunal (NCLAT) in Delhi has recently reiterated that company tribunals cannot directly order a Serious Fraud Investigation Office probe, ruling that the power to direct such an investigation rests with the Central Government. A bench of Judicial Member Justice Mohd. Faiz Alam Khan and Technical Member Naresh Salecha relying on its own earlier decision observed, "The procedure for investigation in the affairs of the company has been provided under Section...

MP Sudheer Gupta To Head Joint Parliamentary Committee On Corporate Laws (Amendment) Bill

Lok Sabha Speaker Om Birla on Monday constituted a 31-member Joint Parliamentary Committee to examine the Corporate Laws (Amendment) Bill, 2026, appointing BJP MP Sudheer Gupta as its chairperson. The committee comprises 21 members from Lok Sabha and 10 members from Rajya Sabha.The Bill was introduced in the Lok Sabha by Finance and Corporate Affairs Minister Nirmala Sitharaman on March 23, 2026 and was subsequently referred by the Speaker to the JPC for clause by clause examination, stakeholder...

"Undue Haste": NCLT Hyderabad Stays MBG Commodities EGM To Increase Share Capital Amid Oppression Case

The Hyderabad Bench of the National Company Law Tribunal has stayed an Extraordinary General Meeting proposed by MBG Commodities Pvt Ltd to increase its authorised share capital. The tribunal observed that the company was acting in “undue haste” even as the main oppression and mismanagement petition over its rights issue and capital structure is awaiting orders. A Bench of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri passed the interim order on an application moved by...