COMPANY LAW
NCLT Kochi Allows First Motion Plea In Kalyan Silks Demerger, Orders Unsecured Creditors' Meeting
The National Company Law Tribunal (NCLT) at Kochi on Monday allowed a first motion joint company application filed in connection with a proposed scheme of arrangement in the nature of a demerger between Thrissur-based textile retailer Kalyan Silks' group companies, Kalyan Silks Trichur Private Limited and Kalyan Silks Private Limited. The Tribunal also directed that a meeting of unsecured creditors of the demerged company be convened to consider the scheme. Judicial Member Vinay Goel passed the...
Companies Act Does Not Mandate Valuation Report For Share Capital Reduction: Supreme Court
The Supreme Court on Tuesday dismissed appeals filed by minority shareholders challenging a reduction of share capital undertaken by Bharti Telecom Ltd, holding that the Companies Act does not require a valuation report from a registered valuer for such a process.A bench of Justices Sanjay Kumar and K. Vinod Chandran said that reduction of share capital under Section 66 can be effected through a “special resolution” passed by shareholders and confirmation by the National Company Law...
NCLT Mumbai Clears Scheme To Merge Asian Paints (Polymers) With Parent Asian Paints Ltd
The National Company Law Tribunal (NCLT) at Mumbai on Tuesday approved a scheme of amalgamation under which Asian Paints (Polymers) Private Limited will merge into Asian Paints Limited, with the transferor company being dissolved without winding up.The order was passed by a coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar. Allowing the merger scheme under the Companies Act, the tribunal observed that the arrangement appeared “fair and reasonable and is not...
Supreme Court Refuses To Interfere With Bharti Telecom Scheme To Cancel 2.84 Crore Shares Held By Minority Shareholders
The Supreme Court on Tuesday declined to interfere with a scheme by Bharti Telecom Ltd., the promoter holding company of Bharti Airtel, to cancel 2.84 crore shares held by minority shareholders through a reduction of share capital.Dismissing appeals filed by minority shareholders, a bench of Justices Sanjay Kumar and K. Vinod Chandran refused to interfere with an April 3, 2025 judgment of the National Company Law Appellate Tribunal (NCLAT), which had upheld the approval of the scheme by the...
Supreme Court Refuses To Interfere With ₹1,950 Crore NSEL Settlement For Traders Hit By 2013 Default
The Supreme Court on Monday refused to interfere with the approval of a Rs 1,950-crore settlement scheme for traders affected by the 2013 default at National Spot Exchange Ltd (NSEL), dismissing an appeal challenging orders of the NCLT and the NCLAT that had cleared the plan.A bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe declined to interfere with the NCLAT's January 15, 2026 decision upholding the NCLT Mumbai's November 28, 2025 order approving the scheme of arrangement...
Compromise Scheme Under Companies Act Can Be Considered Only In Liquidation, Not During CIRP: NCLT Kochi
The National Company Law Tribunal (NCLT) at Kochi on Friday held that a scheme of compromise or arrangement under Section 230 of the Companies Act, 2013 cannot be considered during the corporate insolvency resolution process (CIRP) in the absence of a liquidation order. A coram of Judicial Member Vinay Goel observed that the statutory framework places schemes under Section 230 at the post-liquidation stage and dismissed the application seeking its sanction as premature. The proceedings arise...
NCLT Bengaluru Approves Amalgamation Of Shilpa Therapeutics With Listed Parent Shilpa Medicare
The National Company Law Tribunal (NCLT) at Bengaluru has recently approved the amalgamation of Shilpa Therapeutics Private Limited, a wholly owned subsidiary, into its listed parent Shilpa Medicare Limited, an intra-group merger within the Shilpa group.A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada sanctioned the scheme, holding that there remained no impediment to its approval after consideration of reports filed by statutory authorities.“the...
NCLT Bengaluru Cancels Rights Share Allotment In Sha's Airborne Travels, Orders Register Rectification
The National Company Law Tribunal at Bengaluru on 11 February, set aside the allotment of 59,500 equity shares made in favour of a director of Sha's Airborne Travels Pvt Ltd, holding that the increase in authorised share capital and the subsequent rights issue were illegal and void ab initio. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held that the impugned actions were carried out unilaterally and amounted to unilateral dilution of the promoters'...
NCLT Delhi Sanctions Merger Of Masibus Automation Into Sonepar India
The National Company Law Tribunal (NCLT) at Delhi has approved the amalgamation of Masibus Automation and Instrumentation Pvt. Ltd. with Sonepar India Pvt. Ltd., allowing the latter to absorb its subsidiary as part of a consolidation of operations. The order was passed on March 3, 2026, by Judicial Member Bachu Venkat Balaram Das and Technical Member Reena Sinha Puri of the NCLT's New Delhi Bench. Sonepar India, which moved the petition, told the tribunal that the merger would help streamline...
LiveLawBiz Company Law Monthly Digest: February-2026
SUPREME COURTByju's Parent Moves Supreme Court To Stall Second Tranche Of Aakash ₹240 Crore Rights IssueCase Title: Think and Learn Private Limited (In CIRP), through its Resolution Professional, Shailendra Ajmera, versus Aakash Educational Services Limited and othersCase Number: C.A. NO. 1604-1605/2026Think & Learn Pvt. Ltd., which owns edtech major Byju's, has moved the Supreme Court against a National Company Law Appellate Tribunal (NCLAT) order that allowed Aakash Educational...
NCLAT Modifies NCLT Order Dismissing Company Petition for Non-Joinder of Necessary Party, Allows Impleadment
The National Company Law Appellate Tribunal at Chennai recently modified an order of the NCLT which had dismissed a company petition on the ground of non-joinder of a necessary party.The NCLT Amravati had dismissed a company petition filed by two individuals after observing that the principal relief was sought against Al-Sami Food Exports Pvt Ltd, which had not been made a party. Since the matter had reached the stage of arguments, the tribunal declined to permit addition of the party at that...