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...

Supreme Court Makes Absolute Interim Protection To Deepak Garg In Rs 1596 Crore SRS Fraud Case

The Supreme Court on Thursday made absolute the interim protection it had earlier granted to Deepak Garg, a Director of SRS Finance Ltd and SRS Shining Ornaments Ltd, during the pendency of his special leave petitions challenging the Punjab and Haryana High Court's refusal of anticipatory bail in the alleged Rs 1,596 crore SRS Group financial fraud case. A Bench of Justices Vikram Nath and Sandeep Mehta said, “Taking into consideration the facts and circumstances of the case and upon hearing...

NCLT Bengaluru Approves First Motion In Aureustech–Happiest Minds Merger

The National Company Law Tribunal (NCLT) at Bengaluru on 13 February allowed the first motion application in the proposed merger of Aureustech Systems Private Limited with Happiest Minds Technologies Limited. A Bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada considered the application filed by the companies seeking directions in relation to the proposed scheme of amalgamation. The Bench also recorded that no investigation proceedings are pending...

NCLAT Dismisses Jindal Poly Films' Appeal Challenging Maintainability Of Minority Shareholders' Class Action Suit

The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed an appeal filed by Jindal Poly Films Limited challenging an order of the National Company Law Tribunal that had allowed a class action petition under Section 245 of the Companies Act, 2013 to proceed against the company. The appeal was heard by a bench comprising Judicial Member Justice Yogesh Khanna and Technical Member Ajai Das Mehrotra, which declined to interfere with the NCLT's findings and...

NCLT Mumbai Admits P&G Home Products' ₹3.15 Crore Capital Reduction Plan, Directs Notice To Creditors

The National Company Law Tribunal (NCLT) at Mumbai has admitted a plea filed by Procter & Gamble Home Products Pvt Ltd, the Indian home care arm of US-based consumer goods major Procter & Gamble seeking approval for reduction of its Rs. 3.15 crore equity share capital under the Companies Act.A coram of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan after hearing the company, directed it to serve notices on creditors, the Regional Director (Western Region) and the...

NCLT Finds Jawed Akhter's Conduct Oppressive, Structures Exit From Jawed Habib Hair and Beauty

The National Company Law Tribunal (NCLT) at Mumbai has held that acts of financial mismanagement by promoter Jawed Akhter amounted to oppression under the Companies Act, while also finding that attempts by the RBPL group to alter the board structure of Jawed Habib Hair and Beauty Ltd were similarly oppressive. While finding JA's conduct prejudicial to the company's interests, a bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar observed:“We have found the...

NCLT Mumbai Sanctions Merger Between Mirae Asset Sharekhan and Mirae Asset Financial Services

The National Company Law Tribunal at Mumbai has approved the second motion petition for merger between Mirae Asset Sharekhan Financial Services Ltd and Mirae Asset Financial Services (India) Pvt Ltd, consolidating the Mirae Asset Group's NBFC operationsA coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar while sanctioning the merger scheme on February 24 observed:“From material on record, the Scheme appears to be fair and reasonable and is not in violation of...

MCA Announces One-Time Relief For Delayed Annual Returns And Financial Statements, Cuts Additional Fees To 10%

Companies that have defaulted on filing annual returns and financial statements will get a limited window to regularise their records after the Ministry of Corporate Affairs (MCA) on Tuesday notified the Companies Compliance Facilitation Scheme, 2026 (CCFS-2026). The Scheme will be in force from April 15 to July 15, 2026. Under existing provisions, companies are required to pay an additional fee of Rs.100 per day for delay in filing annual returns and financial statements, without any upper...

NCLT Chandigarh Allows First Motion In Jindaljyoti–Kingspan Jindal Amalgamation, Orders Creditor Meetings

The National Company Law Tribunal (NCLT), Chandigarh Bench, has cleared the first step in the proposed scheme of arrangement between Jindaljyoti Prefab Private Limited and Kingspan Jindal Private Limited, waiving the need to hold meetings of equity shareholders of both companies and the unsecured creditor of the transferor company, while directing that meetings of the secured and unsecured creditors of the transferee company be convened. The order was passed by a Bench comprising Judicial...

NCLAT Dismisses Appeal Against Order Allowing Former Promoters To Represent Aquafil Polymers

The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently dismissed as infructuous an appeal filed by majority shareholder Dr. Anita Roy against an interim order permitting the former promoters of Aquafil Polymers Company Private Limited to represent the company in pending proceedings. The tribunal held that in view of a subsequent comprehensive order passed in July 2025 appointing an Independent Administrator and directing a forensic audit, no effective relief could now be...

NCLT Ahmedabad Approves Adicon Tiles Demerger Into Asian Granito Subsidiary

The National Company Law Tribunal at Ahmedabad has approved a Composite Scheme of Arrangement involving Asian Granito India Ltd (AGIL), the listed holding company of the Adicon group. A coram comprising Judicial Member Shammi Khan and Technical Member Sanjeev Kumar Sharma allowed the petition under Sections 230 to 232 of the Companies Act, 2013, with an Appointed Date of October 16, 2023.As part of the restructuring, the tiles manufacturing undertaking of Adicon Ceramica Tiles Pvt Ltd will...

NCLT Appoints Interim Administrator To Manage Mangalam Publications Amid Family Dispute

The National Company Law Tribunal at Kochi has recently appointed an Interim Administrator to take over the management of Mangalam Publications (India) Private Limited, publisher of the Malayalam daily Mangalam and several weekly magazines, amid an ongoing family dispute over control of the company.A coram of Judicial Member Vinay Goel observed that the continuing disputes between shareholders and the management were adversely affecting the company's business and the interests of its employees...