NCLT Mumbai Sanctions Filmistan Demerger Scheme; Rental Business To Be Transferred To Arkade Developers

The National Company Law Tribunal (NCLT) at Mumbai has sanctioned a scheme of arrangement under Sections 230–232 of the Companies Act providing for the demerger of the rental business relating to leasehold rights in property of Filmistan Pvt. Ltd. into its parent company Arkade Developers Ltd. A bench comprising Judicial Member K. R. Saji Kumar and Technical Member Anil Raj Chellan observed that the proposed restructuring was, “fair and reasonable and is not violative of any provisions of law...

NCLT Chennai Approves Amalgamation Of Ind Eco Ventures Ltd With Indowind Energy Ltd

The National Company Law Tribunal (NCLT), Chennai, has approved a scheme of amalgamation between Ind Eco Ventures Limited and Indowind Energy Limited, a wholly owned subsidiary of Indowind. A Bench of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy allowed the joint petition filed under Sections 230–232 of the Companies Act, 2013, after considering the reports and observations of statutory authorities, including the Regional Director, Official Liquidator, and...

NCLT New Delhi Orders Shareholder And Creditor Meetings On Dabur–Sesa Amalgamation Scheme

The New Delhi Bench of the National Company Law Tribunal (NCLT) on 12 March, ordered meetings of the equity shareholders and unsecured creditors of Dabur India Limited to consider a Scheme of Amalgamation between Sesa Care Private Limited and Dabur India Limited under Sections 230 and 232 of the Companies Act, 2013. A Bench comprising Judicial Member Bachu Venkat Balaram Das and Technical Member Renna Sinha Puri held: “In view of the aforementioned we direct the following: a. The meeting of...

NCLT Ahmedabad Allows Demerger Of Inox Green Energy Power Evacuation Business Into Inox Renewable Solutions

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) recently sanctioned a demerger scheme between Inox Green Energy Services Limited, a listed company engaged in operations and maintenance of wind turbine generators and the power evacuation business, and Inox Renewable Solutions Limited, which undertakes power evacuation and related EPC activities, allowing the transfer of the power evacuation business into the latter entity.The bench of Judicial Member Shammi Khan and Technical...

NCLT Hyderabad Approves Demerger Of AP-Telangana Automobile Dealership Business Of Automotive Manufacturers

The National Company Law Tribunal at Hyderabad on March 11 approved a scheme of arrangement for the demerger of the Andhra Pradesh and Telangana automobile dealership business of Automotive Manufacturers Private Limited into Automotive Mobility Private Limited.The order was passed by a bench comprising Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri under Section 230 of the Companies Act. Automotive Manufacturers Pvt Ltd, incorporated on 1 December 1948 is engaged in automobile...

S. 424(3) Companies Act | Private Settlement Cannot Be Enforced Through Execution Of Withdrawal Order: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahemdabad has held that Section 424(3) of the Companies Act cannot be invoked to enforce an alleged breach of a private settlement, observing that an order merely recording withdrawal of an insolvency petition does not contain any executable direction. A bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma said, “The order dated 26.08.2019 is a withdrawal order devoid of executable direction. No decree or adjudicated command exists...

NCLT Chennai Approves Merger Of Helios Strategic Systems With Listed Indo-National

The Chennai National Company Law Tribunal (NCLT) on 10 March, approved a Scheme of Amalgamation between Helios Strategic Systems Limited and Indo-National Limited. A Bench of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy allowed the joint petition filed under Sections 230 to 232 of the Companies Act, 2013, holding that: “the scheme as contemplated by the Petitioner companies seems to be prima facie not, in any way detrimental to the interest of the...

NCLT Chennai Approves Merger Of Four Group Companies With India Cements Ltd

The National Company Law Tribunal (NCLT), Chennai Bench, has sanctioned a Scheme of Amalgamation involving four companies of the India Cements group with The India Cements Limited. A coram comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam allowed a joint company petition filed under Sections 230 to 232 of the Companies Act, 2013, seeking approval of the scheme of amalgamation. The scheme provides for the amalgamation of ICL Financial Services Limited, ICL...

Condonation Of Delay In Filing Returns For Company Not Available To Directors: Kerala High Court

The Kerala High Court on Thursday held that condonation of delay in filing annual returns does not wipe out the statutory disqualification incurred by directors for failure to file returns for consecutive financial years. The court observed that the benefit of condonation available to the company cannot be extended to its directors. The court held that the office-bearers of the Aruvipuram Sree Narayana Dharma Paripalana Yogam, including V.K. Natesan, Dr. M.N. Soman, Thushar Vellappally and...

NCLT Kolkata Approves Merger Of Five Group Companies With BirlaNu Limited

The National Company Law Tribunal at Kolkata has sanctioned a scheme of amalgamation under which five companies, Crestia Polytech Pvt Ltd, Aditya Poly Industries Pvt Ltd, Aditya Polytechnic Pvt Ltd, Prabhu Sainath Polymers Pvt Ltd and Topline Industries Pvt Ltd, will merge into BirlaNu Limited. The bench of Judicial Member Bidisha Banerjee and Technical Member Siddharth Mishra approved the scheme, observing, “The Scheme is just, fair and reasonable and is not contrary to any provisions of law...

Calcutta High Court Sets Aside Order Restraining IIBI From Redemption Of ₹221.08 Crore Preference Shares At 20% Value

The Calcutta High Court on March 12 allowed an appeal filed by Industrial Investment Bank of India Limited (IIBI). The court set aside a single judge's order that had confirmed an interim direction requiring the bank to set apart properties worth Rs 2 crore in a dispute relating to a resolution adopted in its 13th Annual General Meeting regarding redemption of preference shares. While allowing IIBI's appeal, the Division Bench of Justices Debangsu Basak and Md. Shabbar Rashidi observed: ...

NCLT Hyderabad Approves Merger Of Six Group Companies Into Triumphant Institute Of Management Education (TIME)

The National Company Law Tribunal (NCLT) at Hyderabad has approved a composite scheme of amalgamation and arrangement under which six group companies will merge into Triumphant Institute of Management Education Pvt Ltd (TIME). The order was passed by a bench comprising Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri while allowing a joint company petition filed by the companies. The scheme had earlier been approved by the boards of the petitioner companies on July 7, 2025. ...