NCLT Bengaluru Denies Yulu Bikes Co-Founder Waiver To Pursue Oppression And Mismanagement Plea

The National Company Law Tribunal (NCLT) at Bengaluru has recently dismissed an application filed by Yulu Bikes Private Limited co-founder and former Chief Operating Officer Hemant Gupta seeking waiver of the eligibility requirements to pursue oppression and mismanagement proceedings against the company.A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada observed:“...we note that there do not appear to be any exceptional Circumstances warranting granting of...

NCLT Mumbai Allows First Motion For Demerger Of Thomas Cook India's Resort Business Into Sterling Holiday Resorts

The National Company Law Tribunal (NCLT) at Mumbai has allowed the first motion application filed by Thomas Cook (India) Limited for a composite scheme of arrangement involving the demerger of its resort business into Sterling Holiday Resorts Limited, along with the amalgamation of three wholly owned subsidiaries into Thomas Cook India.A Bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar passed the order on November 4, 2026, permitting the companies to proceed...

NCLT Bengaluru Approves Transfer Of NH Integrated Care's Clinical Services To Narayana Hrudayalaya

The National Company Law Tribunal (NCLT), Bengaluru, on 30 October approved a scheme of arrangement for the transfer of the clinical services undertaking of NH Integrated Care Private Limited to its parent company, Narayana Hrudayalaya Limited, with effect from 1 April 2025. A Bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada allowed the joint petition filed by the two companies seeking approval of the scheme. It held: “…. the Scheme of Arrangement as...

NCLT Mumbai Approves Merger Of Hinduja Leyland Finance Into NDL Ventures

The National Company Law Tribunal at Mumbai has approved the merger of Hinduja Leyland Finance Limited (HLFL) into NDL Ventures Limited through a scheme of merger by absorption under Sections 230-232 of the Companies Act, 2013.A Bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the scheme was fair, reasonable and not contrary to law or public policy."From the material on record, the Scheme appears to be fair and reasonable, does not...

NCLT Mumbai Allows First Motion For Merger Of Jindal Mittal Promoters Into Jindal Mittal Graha Nirman

The National Company Law Tribunal's Mumbai Bench has allowed the first-motion application for the proposed merger by absorption of Jindal Mittal Promoters and Builders Pvt Ltd into Jindal Mittal Graha Nirman Pvt Ltd, directing meetings of certain secured and unsecured creditors to consider the scheme.A Bench comprising Judicial Member Lakshmi Gurung and Technical Member Hariharan Neelakanta Iyer passed the order in an application under Sections 230-232 of the Companies Act, 2013. Both...

Director's Removal Without Mandatory Special Notice Violates Companies Act: NCLT New Delhi

The National Company Law Tribunal (NCLT), New Delhi, on 15 October held that removing a director without complying with the mandatory notice requirement under Section 169 of the Companies Act, 2013, is unlawful. A Bench comprising Judicial Member Bachu Venkat Balram Das and Technical Member Ravindra Chaturvedi allowed a petition filed by Subh Guatam against Krezon Specialities Private Limited and its director. The Tribunal observed: “It is a mandatory requirement under Section 169 of the...

NCLT Bengaluru Says It Cannot Approve Already Implemented Scheme Of Arrangement Ex-Post Facto

The National Company Law Tribunal (NCLT), Bengaluru, on 30 October held that it cannot grant ex-post facto approval to a Scheme of Arrangement under Section 230 of the Companies Act, 2013, after the company has already implemented the proposed arrangement. A Bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada dismissed Crossdomain Solutions Private Limited's petition seeking sanction of a Scheme of Arrangement with its unsecured deposit holders, imposing...

LiveLawBiz Company Law Monthly Digest : October 2026

SUPREME COURTSupreme Court Says Its Requests To Tribunals Are Directions, Pulls Up NCLAT For Not Hearing Matter Despite Earlier RequestThe Supreme Court has reprimanded the National Company Law Appellate Tribunal (NCLAT) for failing to hear a pending appeal despite its earlier request to take up the matter on July 23, 2026, directing the tribunal to explain the delay. A Division Bench of Justices J.B. Pardiwala and K. Vinod Chandran said it was “quite disturbed” by the NCLAT's conduct. It...

Bhushan Power: NCLT Delhi Dismisses Pleas Challenging Government's ₹5,431 Crore Recovery Petition

The National Company Law Tribunal (NCLT) at Delhi has recently held that a change in management or approval of a resolution plan under the Insolvency and Bankruptcy Code, 2016 (IBC), does not end its jurisdiction to examine allegations of past fraud if the effects of the alleged misconduct continue. The tribunal accordingly dismissed eight applications challenging the maintainability of a petition filed by the Union of India through the Serious Fraud Investigation Office (SFIO) over the alleged...

NCLT Bengaluru Dissolves Sezzle Payments After Completion Of Voluntary Liquidation

The National Company Law Tribunal at Bengaluru on Friday ordered the dissolution of Sezzle Payments Private Limited following completion of its voluntary liquidation process under Section 59 of the Insolvency and Bankruptcy Code, 2016. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held:“On examination of the submissions and documents filed with the Petition, it is apparent that the affairs of the Petitioner have been completely wound up and its assets...

NCLT Bengaluru Orders Dissolution Of Chanel India Business Solutions After Voluntary Liquidation

The National Company Law Tribunal at Bengaluru has ordered the dissolution of Chanel India Business Solutions Private Limited after finding that the company's affairs had been completely wound up and its assets entirely liquidated through the voluntary liquidation process.A coram Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held:"On examination of the submissions and documents filed with the Petition, it is apparent that the affairs of the Petitioner have been...

Centre Can File Oppression, Mismanagement Cases Only For Ongoing Public Interest Prejudice: NCLT Mumbai

The National Company Law Tribunal's (NCLT) Mumbai Bench has held that the Central Government can initiate proceedings for oppression and mismanagement under Section 241(2) of the Companies Act, 2013, only when a company's affairs are presently being conducted in a manner prejudicial to public interest. A bench comprising Judicial Member Lakshmi Gurung and Technical Member Hariharan Neelakanta Iyer observed that the use of the words "are being", instead of "have been", indicates that the alleged...