COMPANY LAW
NCLT Mumbai Clears First Motion In GE Power India–JSW Energy Durgapur Demerger Scheme
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 2 June cleared the first motion application in the proposed demerger of the Durgapur manufacturing business of GE Power India Limited into JSW Energy Limited. A Bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar directed the convening of meetings of shareholders and unsecured creditors of both companies to consider the scheme under Sections 230 to 232 of the Companies Act, 2013. The...
Validity Of Vote Cast On Behalf Of Society At Company's AGM Cannot Be Decided By Who Voted First: Supreme Court
The Supreme Court has recently held that the validity of a vote cast on behalf of a society at a company's annual general meeting cannot be determined merely by who voted first. The Court ruled that voting authority must flow from the society's governing documents and the statutory framework regulating electronic voting. A bench of Justices Vikram Nath and Sandeep Mehta allowed appeals filed by Hindustan Medical Institution, Eastern India Educational Institution and Belle Vue Clinic, all...
NCLT Bengaluru Approves Puresoftware–Happiest Minds Composite Scheme Of Arrangement
The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 29 May sanctioned a Composite Scheme of Arrangement between Puresoftware Technologies, a wholly owned subsidiary, and Happiest Minds Technologies Limited, a listed company. Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held that no impediment existed to approval once the companies addressed concerns raised by statutory authorities. The Bench, however, clarified: “While approving the Scheme, it...
NCLT Indore Restores Struck-Off Company On IT Department's Plea, Affirms Locus As “Creditor” U/S 252(3)
The Indore Bench of the National Company Law Tribunal (NCLT) on 4 May allowed an appeal filed by the Income Tax Department seeking restoration of a struck-off company, holding that the Department qualifies as a “creditor” under Section 252(3) of the Companies Act, 2013 and is entitled to seek revival to pursue pending reassessment proceedings. Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta allowed the appeal and directed restoration of Adaptec Real Estate Pvt. Ltd....
NCLT Bengaluru Clears Scheme Of Amalgamation Between Tritonvalves Climatech And Triton Valves Limited
The Bengaluru National Company Law Tribunal (NCLT) on 29 May 2026 sanctioned a Scheme of Amalgamation between Tritonvalves Climatech Private Limited and Triton Valves Limited after it found no impediment to approval once the companies addressed all concerns raised by statutory authorities. Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada heard the second motion petition seeking approval for the merger of the wholly owned subsidiary with the listed parent company....
IL&FS Fraud Case: NCLAT Restrains Further Action Against Deloitte, SRBC, BSR
The National Company Law Appellate Tribunal (NCLAT) has recently restrained further action against Deloitte Haskins & Sells LLP, SRBC & Co LLP, BSR & Associates LLP and other auditors under Section 339 of the Companies Act, 2013 in the IL&FS matter, pending consideration of their challenge to the maintainability of the proceedings.The order was passed on May 26 by a bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra. "We observe that question of...
Resigned Director Cannot Claim Oppression Solely On Ground Of Subsequent Board Changes: NCLT Kolkata
The National Company Law Tribunal (NCLT), Kolkata Bench, has held that a shareholder who continues to remain a member of a company can maintain a petition alleging oppression and mismanagement even after resigning as a director. However, it clarified that a person who has resigned from the board cannot subsequently complain of oppression merely on the ground that the board's composition changed after their resignation. A Bench of Judicial Member Bidisha Banerjee and Technical Member Siddharth...
Telangana HC Quashes EPF Default Case Against Company's MD, Says Designation Alone Insufficient
The Telangana High Court has quashed criminal proceedings against the Chairman and Managing Director of Sankhya Infotech Limited in a case alleging non-remittance of Employees' Provident Fund (EPF) contributions. The Court held that the material on record did not disclose a prima facie sustainable case against him. Justice N. Tukaramji passed the order while allowing a petition challenging proceedings pending before the XX Metropolitan Magistrate, Cyberabad at Malkajgiri. The Court found that...
NCLT Kochi Restrains Popular Finance Group Companies From Alienating Assets In SFIO-Initiated Winding-Up Pleas
The National Company Law Tribunal (NCLT) at Kochi has restrained Mary Rani Popular Nidhi Limited and other group companies from creating any third-party interest in, transferring, alienating, encumbering, or mortgaging its movable and immovable assets while considering a winding-up petition filed by the Union of India through the Serious Fraud Investigation Office (SFIO). The development comes months after the Kerala High Court closed a plea filed by the MRPN Minority Shareholders Customers...
NCLT New Delhi Rejects Plea To Shift Chennai Bench Case, Finds No Ground For Alleged Bias
On 20 May, the Principal Bench of the National Company Law Tribunal (NCLT) at New Delhi dismissed a transfer application seeking shifting of a pending company petition from the NCLT Chennai Bench-II to another Bench, holding that vague and unsubstantiated allegations of bias cannot justify transfer of proceedings. President Justice Anupinder Singh Grewal reiterated that courts cannot entertain such requests based on dissatisfaction with earlier outcomes, as doing so would encourage bench...
NCLAT Refuses Stay On EOGM For Removal Of Jagran Prakashan Independent Directors
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 26 May declined to stay the Extraordinary General Meeting (EOGM) convened for the removal of independent directors of Jagran Prakashan Limited (JPL) and disposed of the appeal filed by the directors. Judicial Member Justice Yogesh Khanna and Technical Member Ajai Das Mehrotra heard the appeal against the order of the NCLT Allahabad dated 23 April 2026. The Bench observed: “....what appears is the inter mingling of various issues...
Oppression, Mismanagement Disputes Cannot Be Referred To Arbitration: NCLT Chandigarh
The National Company Law Tribunal (NCLT) at Chandigarh has held that oppression and mismanagement disputes of the nature raised before it cannot be referred to arbitration as such matters fall within the tribunal's exclusive statutory jurisdiction and cannot be privately adjudicated. A bench of Judicial Mmeber Khetrabasi Biswal and Technical Member Shishir Agarwal held, "We are of the view that disputes of the nature raised in the present Petition under Sections 241-242 of the Companies Act,...