COMPANY LAW
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. ...
NCLT Cuttack Approves Merger Of Godawari Energy Into Parent Godawari Power And Ispat
The National Company Law Tribunal (NCLT) at Cuttack has allowed the merger of Godawari Energy Limited with its parent company, Godawari Power and Ispat Limited, under the Companies Act. A bench of Acting President Deep Chandra Joshi and Technical Member Banwari Lal Meena sanctioned the scheme of amalgamation, observing, “Based on the above facts, and submissions made by the Ld. Counsel and after considering the entire facts and circumstances of the aforesaid company Petition and on perusal of...
Special Resolution Under Companies Act Needed Only For Sale Of Undertakings, Not Individual Assets: NCLAT
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Monday held that shareholder approval through a special resolution under Section 180(1)(a) of the Companies Act, 2013, is required only when a company sells an "undertaking." The provision does not apply when a company disposes of an individual asset. Section 180 of the Companies Act restricts certain powers of a company's board of directors. It requires prior approval of shareholders through a special resolution when a company...
NCLT Kochi Allows First Motion Plea In Kalyan Silks Demerger, Orders Unsecured Creditors' Meeting
The National Company Law Tribunal (NCLT) at Kochi on Monday allowed a first motion joint company application filed in connection with a proposed scheme of arrangement in the nature of a demerger between Thrissur-based textile retailer Kalyan Silks' group companies, Kalyan Silks Trichur Private Limited and Kalyan Silks Private Limited. The Tribunal also directed that a meeting of unsecured creditors of the demerged company be convened to consider the scheme. Judicial Member Vinay Goel passed the...
Companies Act Does Not Mandate Valuation Report For Share Capital Reduction: Supreme Court
The Supreme Court on Tuesday dismissed appeals filed by minority shareholders challenging a reduction of share capital undertaken by Bharti Telecom Ltd, holding that the Companies Act does not require a valuation report from a registered valuer for such a process.A bench of Justices Sanjay Kumar and K. Vinod Chandran said that reduction of share capital under Section 66 can be effected through a “special resolution” passed by shareholders and confirmation by the National Company Law...
NCLT Mumbai Clears Scheme To Merge Asian Paints (Polymers) With Parent Asian Paints Ltd
The National Company Law Tribunal (NCLT) at Mumbai on Tuesday approved a scheme of amalgamation under which Asian Paints (Polymers) Private Limited will merge into Asian Paints Limited, with the transferor company being dissolved without winding up.The order was passed by a coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar. Allowing the merger scheme under the Companies Act, the tribunal observed that the arrangement appeared “fair and reasonable and is not...
Supreme Court Refuses To Interfere With Bharti Telecom Scheme To Cancel 2.84 Crore Shares Held By Minority Shareholders
The Supreme Court on Tuesday declined to interfere with a scheme by Bharti Telecom Ltd., the promoter holding company of Bharti Airtel, to cancel 2.84 crore shares held by minority shareholders through a reduction of share capital.Dismissing appeals filed by minority shareholders, a bench of Justices Sanjay Kumar and K. Vinod Chandran refused to interfere with an April 3, 2025 judgment of the National Company Law Appellate Tribunal (NCLAT), which had upheld the approval of the scheme by the...
Supreme Court Refuses To Interfere With ₹1,950 Crore NSEL Settlement For Traders Hit By 2013 Default
The Supreme Court on Monday refused to interfere with the approval of a Rs 1,950-crore settlement scheme for traders affected by the 2013 default at National Spot Exchange Ltd (NSEL), dismissing an appeal challenging orders of the NCLT and the NCLAT that had cleared the plan.A bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe declined to interfere with the NCLAT's January 15, 2026 decision upholding the NCLT Mumbai's November 28, 2025 order approving the scheme of arrangement...
Compromise Scheme Under Companies Act Can Be Considered Only In Liquidation, Not During CIRP: NCLT Kochi
The National Company Law Tribunal (NCLT) at Kochi on Friday held that a scheme of compromise or arrangement under Section 230 of the Companies Act, 2013 cannot be considered during the corporate insolvency resolution process (CIRP) in the absence of a liquidation order. A coram of Judicial Member Vinay Goel observed that the statutory framework places schemes under Section 230 at the post-liquidation stage and dismissed the application seeking its sanction as premature. The proceedings arise...
NCLT Bengaluru Approves Amalgamation Of Shilpa Therapeutics With Listed Parent Shilpa Medicare
The National Company Law Tribunal (NCLT) at Bengaluru has recently approved the amalgamation of Shilpa Therapeutics Private Limited, a wholly owned subsidiary, into its listed parent Shilpa Medicare Limited, an intra-group merger within the Shilpa group.A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada sanctioned the scheme, holding that there remained no impediment to its approval after consideration of reports filed by statutory authorities.“the...
NCLT Bengaluru Cancels Rights Share Allotment In Sha's Airborne Travels, Orders Register Rectification
The National Company Law Tribunal at Bengaluru on 11 February, set aside the allotment of 59,500 equity shares made in favour of a director of Sha's Airborne Travels Pvt Ltd, holding that the increase in authorised share capital and the subsequent rights issue were illegal and void ab initio. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held that the impugned actions were carried out unilaterally and amounted to unilateral dilution of the promoters'...