NCLT Mumbai Rejects Ex-SNVG Logistics Director's Plea Claiming Forced Share Transfer And Oppression

The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed a petition alleging oppression and mismanagement in the affairs of S.N.V.G. Logistics Private Limited, holding that former director and shareholder Sachin Natrajan failed to establish that his exit from the company and transfer of shares were the result of coercion or intimidation. The tribunal observed: “…..the Petitioner had not filed any complaint in relation to purported threat or intimidation alleged to be caused...

Treating Returns Of Allotment Penalty Provision To Exclude Adjudicating Officer's Discretion Unconstitutional: Bombay HC

The Bombay High Court has held that penalties for defective filings relating to the issuance of securities cannot be imposed through a mechanical computation exercise without examining the nature, gravity, and impact of the default. It also called arbitrary the multiplication of penalties based solely on the number of directors on a company's board, while modifying a ₹64 lakh penalty imposed on a Nidhi company and its directors. Justice Somasekhar Sundaresan, hearing a petition by N.S.J.L...

Andhra Pradesh High Court Dismisses BGR Energy Appeal, Rules Solvency Cannot Defeat Winding-Up Petition

The Andhra Pradesh High Court at Amaravati on 7 May held that commercial solvency alone cannot defeat a winding-up petition when the debt is admitted and no bona fide dispute exists. The Court reiterated that the existence of a genuine dispute determines maintainability under Section 433(e) of the Companies Act, 1956. A Division Bench comprising Justices Battu Devanand and Subhendu Samanta dismissed the appeal filed by BGR Energy Systems Ltd. and upheld the Single Judge's order dated 13 April...

NCLT Bengaluru Sanctions Amalgamation Scheme Of Wholly Owned Subsidiaries Into Kirloskar Electric

The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 30 April 2026 sanctioned the amalgamation of Kelbuzz Trading Company Limited, Luxquisite Parkland Private Limited, SLPKG Estate Holdings Private Limited and SKG Terrra Promenade Private Limited with Kirloskar Electric Company Limited under the Companies Act, 2013.Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada allowed the second motion petition filed by the companies and approved the Scheme of...

NCLT Bengaluru Clears First Motion In Jigsaw Academy-Unext Learning Merger

The National Company Law Tribunal (NCLT) at Bengaluru has allowed the first motion application in the proposed amalgamation of Jigsaw Academy Education Private Limited with Unext Learning Private Limited. A bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada was dealing with the first motion application filed by the companies in relation to the proposed scheme of amalgamation. The companies stated that their respective boards approved the Scheme of...

NCLAT Dismisses Former Stone Age Director's Appeal Over Removal, Refuses New Arguments At Appellate Stage

The National Company Law Appellate Tribunal (NCLAT) in Delhi has dismissed an appeal by a former Stone Age Pvt Ltd director, holding that it cannot act as a court of first instance to decide her argument that her removal from directorship was illegal because the company's Articles of Association did not require a whole-time director to seek reappointment. “Qua the argument the Article of Association of Respondent No.1 nor the provisions of Companies Act, 1956 contemplate any requirement for a...

NCLT Ahmedabad Approves Kunal Plastics-Ecoplast Amalgamation

The Ahmedabad bench of the National Company Law Tribunal has sanctioned the amalgamation of Kunal Plastics Private Limited with Ecoplast Limited, holding that the proposed merger satisfied the requirements of the Companies Act and was bona fide and in the interest of shareholders and creditors.The order was passed on May 14 by Judicial Member Chitra Hankare and Technical Member Dr Velamur G Venkata Chalapathy. The companies had sought approval for the merger with an appointed date of April 1,...

NCLT Mumbai Orders ICAI Action Against Networth Agrotech Auditor Over Backdated Attestation of Financial Statements

The National Company Law Tribunal (NCLT) at Mumbai has recently directed disciplinary action by the Institute of Chartered Accountants of India against former Networth Agrotech India Ltd statutory auditor Dattatray Maruti Khune. It refused, at this stage, to hold that his irregular attestation of the company's backdated financial statements amounted to fraud warranting his removal and debarment. Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the...

NCLT Ahmedabad Sanctions Cello World, Wim Plast, Cello Consumer Products Merger-Demerger Scheme

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has sanctioned a Composite Scheme of Arrangement involving listed houseware and consumer products maker Cello World Limited, Wim Plast Limited, and Cello Consumer Products Private Limited. The bench of Judicial Member Chitra Hankare and Technical Member Dr V.G. Venkata Chalapathy passed the order on May 14, 2026. The joint second motion petition was filed under Sections 230 to 232 of the Companies Act, seeking approval for a...

MP High Court Sends Bharat Commerce Asset Sale Dispute Back To Company Court To Consider Post-Auction Higher Bid

The Madhya Pradesh High Court has sent back for fresh consideration a dispute over the sale of assets of Bharat Commerce and Industries Ltd., finding that the Company Judge did not consider a bidder's arguments for entertaining a higher post-auction offer. “Upon perusal of the said impugned order, we find that the aforesaid contentions were not considered by the company judge.” A Division Bench of Justice Vijay Kumar Shukla and Justice Alok Awasthi passed the order on April 23 in an...

Time Awaiting MCA Nod Cannot Extend Limitation For Companies Act Prosecution Where Law Mandates No Sanction: MP High Court

The Madhya Pradesh High Court at Gwalior has recently held that where the law does not require prior government sanction to prosecute, authorities cannot rely on time spent awaiting administrative instructions to extend the two-year limitation period for filing a criminal complaint. Justice Rajesh Kumar Gupta observed, “Administrative approvals, departmental communications, or internal procedures cannot override the mandate of Sections 468 and 469 Cr.P.C. Unless the statute specifically...

NCLT Mumbai Approves Cross-Border Merger Of Dubai-Based Group Companies With NMDC Data Centre

The National Company Law Tribunal (NCLT) in Mumbai has approved a cross-border merger under which two Dubai-based group entities will be merged into India's NMDC Data Centre Private Limited. The tribunal held that the scheme was fair, reasonable, and not against public policy. “We have perused the submissions made by the Applicant Companies and the report submitted by all the applicable regulators. From the material on record, the Scheme appears to be fair and reasonable and is not in violation...