NCLT Indore Directs Meetings In HEG Demerger, Bhilwara Energy Merger; Some Meetings Dispensed

The Indore bench of the National Company Law Tribunal (NCLT) has recently issued directions on convening and dispensing with meetings of shareholders and creditors in the proposed Composite Scheme of Arrangement involving HEG Ltd, HEG Graphite Ltd, and Bhilwara Energy Ltd.The order was passed by the bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan GuptaHEG Ltd is a leading company in the manufacturing of graphite electrodes. HEG's shares are listed on the BSE and...

NCLT Mumbai Compounds Companies Act Violations By Wadhwagroup Directors On Payment Of ₹36.10 Lakh

The National Company Law Tribunal (NCLT) at Mumbai has compounded offences by directors of Wadhwagroup Holdings Pvt Ltd, a real estate firm, for failure to file consolidated financial statements and for not charging depreciation on investment properties in accordance with accounting standards. The order was passed by a bench of Judicial Member K. R. Saji Kumar and Technical Member Anil Raj Chellan, held that the admitted defaults warranted compounding subject to payment of a fee The...

Statutory Auditors Cannot Claim Blanket Immunity Under Section 339 Of Companies Act: NCLT Mumbai

The Mumbai National Company Law Tribunal (NCLT) on 24 March, held that statutory auditors cannot claim blanket immunity under Section 339 of the Companies Act if they are found to have facilitated or consciously ignored fraudulent conduct. A Bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar passed the order in proceedings initiated by the Union of India to investigate IL&FS and its group entities, and implead its auditors SRBC & Co LLP and BSR...

No 'Deemed Liability' For Company Directors Under Negotiable Instruments Act: Calcutta High Court

The Calcutta High Court has recently held that there is no deemed liability for a director merely by virtue of his designation, emphasising that specific factual averments in a complaint linking a director to the day-to-day management of the company are a jurisdictional prerequisite under Section 141 of the Negotiable Instruments Act. The court said that silence in a complaint regarding a director's role constitutes a substantive failure to establish a prima facie case. Justice Uday Kumar,...

NCLT Kochi Allows First Motion In Scheme To Merge 51 Malabar Group Companies Into Malabar Gold

The National Company Law Tribunal (NCLT) Kochi on Wednesday allowed the first-motion application in a composite scheme of amalgamation involving the merger of 51 Malabar Group companies into Malabar Gold and Diamonds Limited. The order was passed by Judicial Member Vinay Goel on a joint application filed under Sections 230-232 of the Companies Act seeking directions regarding meetings of shareholders and creditors for approval of the proposed scheme. The tribunal dispensed with meetings in 10...

NCLT Delhi Clears First Motion For Amalgamation Between Equinox India Infraestate And Spero Properties

The Delhi Bench of the National Company Law Tribunal (NCLT) on Wednesday allowed a first-motion application relating to a proposed amalgamation of Equinox India Infraestate Limited with Spero Properties and Services Private Limited. A coram of Judicial Member Jyotsna Sharma and Technical Member Anu Jagmohan Singh, after noting that the equity shareholders, secured creditors, and unsecured creditors of the transferee company had given their written consent, dispensed with the requirement of...

NCLT Mumbai Allows First Motion For Merger Of Tata Group Firm Rujuvalika Investment Into Tata Steel

The National Company Law Tribunal at Mumbai on Wednesday allowed a first-motion application for the proposed merger of Rujuvalika Investment Ltd, a Tata group company, into Tata Steel Ltd. A coram of Judicial Member Ashish Kalia and Technical Member Sanjiv Dutt passed directions for regulatory compliances and issuance of notices to statutory authorities while dealing with the first-motion plea. The scheme, jointly filed by the companies on May 27, 2025 under Sections 230 to 232 of the...

NCLT Mumbai Upholds SFIO's Authority To Act On Behalf Of Union Of India In IL&FS Case, Rejects Locus Challenge

The National Company Law Tribunal (NCLT) at Mumbai has upheld the locus standi of the Serious Fraud Investigation Office (SFIO) to file an application on behalf of the Union of India in proceedings arising out of the IL&FS matter, rejecting objections that the agency lacked authority to institute such proceedings. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the application filed through SFIO was maintainable and could not be rejected on...

Bombay High Court Allows Raj Kundra's Company To Challenge UK Anti-Suit Injunction In Rajasthan Royals Dispute

The Bombay High Court on Monday granted leave under Clause XII of the Letters Patent to Kuki Investments Limited, a company owned by Raj Kundra, to institute a suit challenging an anti-suit injunction passed by the High Court of England and Wales in a dispute relating to the affairs of IPL franchise Rajasthan Royals. Allowing the petition seeking permission to file the suit against Emerging Media Ventures Ltd. and others, Justice Abhay Ahuja observed that the court was satisfied that grounds...

NCLT Kolkata Sanctions Merger Of Group Companies Sresta Natural Bioproducts, Wimco Into ITC

The National Company Law Tribunal (NCLT) at Kolkata has sanctioned a scheme of amalgamation under which Sresta Natural Bioproducts Pvt Ltd, which operates in organic packaged foods, and Wimco Ltd, an inactive group company, are being merged into their parent ITC LimitedA coram of Judicial Member Labh Singh Technical Member Rekha Kantilal Shah passed the order. The scheme was approved by the respective boards of the companies on August 1, 2025. ITC, the transferee company, had earlier acquired...

Corporate Laws (Amendment) Bill 2026: Govt Proposes Decriminalising Minor Comapanies Act Defaults, CSR Changes

The Corporate Laws (Amendment) Bill, 2026, was introduced in the Lok Sabha on Monday, proposing changes to the Companies Act, 2013, and the Limited Liability Partnership Act, 2008, that would remove criminal liability for several procedural violations, revise penalty provisions, and give wider statutory powers to regulators. One of the central proposals in the bill is to move a number of compliance-related offenses out of the criminal framework. At present, certain technical defaults can lead...

Share Capital Increase Without Notice To Family Shareholders Amounted To Oppression In Daruka Papers Case: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that increasing the authorised share capital and issuing rights shares without notice to continuing shareholders in a closely-held family company amounted to oppression, after finding that the company proceeded on the assumption that certain shareholders had resigned even though the validity of their resignation itself was disputed. Disposing of the appeal in a dispute concerning J.B. Daruka Papers Ltd, a bench of Judicial...