NCLT Mumbai Approves First Motion For Demerger Of Dairy Undertaking Of Sarda Dairy Into Chhattisgarh Investments

The National Company Law Tribunal (NCLT) at Mumbai has allowed the first motion application in a scheme providing for the demerger of the dairy undertaking of Sarda Dairy & Food Products Ltd into Chhattisgarh Investments Ltd. The scheme provides for reorganisation of reserves, reduction of share capital and demerger of the dairy undertaking into Chhattisgarh Investments Ltd. The order was passed by a coram of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan on...

NCLT Mumbai Clears First Motion For Merger Of Tech Mahindra's Three Wholly Owned Subsidiaries

The National Company Law Tribunal (NCLT) at Mumbai has allowed the first motion application in a scheme to merge three wholly owned subsidiaries of Tech Mahindra Ltd, namely Zen3 Infosolutions Pvt Ltd, Tech Mahindra Enterprise Services Ltd and Begig Pvt Ltd, with the parent company.The order was delivered on February 12, 2026 in a Company Application filed under Sections 230 to 232 of the Companies Act, 2013. The scheme had earlier been approved by the boards of the four companies on April 24,...

Oppression Petition Not Maintainable Where The Principal Relief Sought Is Winding Up: NCLT Amaravati

The National Company Law Tribunal at Amaravati recently held that a petition alleging oppression and mismanagement cannot be used as a substitute for winding-up proceedings, and that maintainability must be tested on the basis of the pleadings as originally filed. The Tribunal reiterated that a petition inherently defective at inception cannot be cured by subsequently abandoning a substantive prayer. On 11 February, a Bench comprising Judicial Member Kishore Vemulapalli and Technical Member...

NCLT Chandigarh Clears First Motion For Panasonic Life Solutions To Demerge Its White Goods Business

The National Company Law Tribunal (NCLT) at Chandigarh has allowed the first-motion application seeking directions to convene meetings in connection with a composite scheme of demerger proposed by Panasonic Life Solutions India Pvt Ltd and Panasonic India Pvt Ltd. The scheme provides for the demerger of the white goods business of Panasonic Life Solutions India and its vesting in Panasonic India Pvt Ltd. The order was passed by a coram comprising Judicial Member Khetrabasi Biswal and Technical...

Recovery Impact Not Valid Ground To Oppose Transfer Of Winding-Up Proceedings To NCLT: Bombay High Court

The Bombay High Court has recently observed that objections raised by secured creditors and the Official Liquidator to the transfer of winding-up proceedings from the High Court to the National Company Law Tribunal (NCLT) cannot be sustained merely because such a transfer may affect their recovery actions. Justice Arif S. Doctor made the observation while allowing a company application filed by Sahjun Impex Trading Pvt. Ltd. The application sought transfer of a pending winding-up petition...

Coercive Action Against Members Backing Oppression, Mismanagement Cases Undermines Statutory Rights: NCLT Kolkata

The National Company Law Tribunal (NCLT) at Kolkata has granted limited interim protection to the former president of Asansol Club Ltd and another supporting member. It observed that allowing disciplinary or coercive action against members backing oppression and mismanagement proceedings during their pendency could undermine the very object of the Companies Act. A coram comprising Judicial Member Bidisha Banerjee and Technical Member Siddharth Mishra allowed an application seeking waiver of the...

NCLT Ahmedabad Sanctions Merger Of Sanghi Industries With Ambuja Cements

The National Company Law Tribunal (NCLT) at Ahmedabad has approved a cement-sector merger, clearing the amalgamation of Sanghi Industries Limited into Ambuja Cements Limited. A bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma sanctioned the composite scheme of merger under Sections 230 to 232 of the Companies Act, 2013, by an order dated 9 February 2026. The tribunal held that the scheme is “prima facie beneficial to the Companies and will not be in any way...

NCLAT Extends Deadline Till February 17 For Byju's Parent To Subscribe To Aakash Rights Issue Second Tranche

The National Company Law Appellate Tribunal (NCLAT) at Chennai on Monday has extended the time by one week for Think and Learn Pvt Ltd, the parent company of Byju's, to subscribe to the second tranche of Aakash Educational Services' rights issue.A coram of Judicial Member Justice N. Seshasayee and Technical Member Jatindranath Swain passed the direction while allowing an extension of one week, by permitting Think and Learn to subscribe to the second tranche of rights shares until February 17,...

Jindal Poly Tells NCLAT Class Action Order Hit Share Price, Seeks Interim Relief

The National Company Law Appellate Tribunal (National Company Law Appellate Tribunal) on Monday part-heard Jindal Poly Films Limited's plea for interim relief in its appeal against the admission of a shareholder class action, after the company told the tribunal that the NCLT order had adversely affected its share price. The tribunal will continue hearing the appeal tomorrow. The appeal arises from an order passed on February 5 admitting a class action filed by three minority shareholders...

Managing Director Liable For Dishonoured Company Cheques Where He Ran Its Day-to-Day Affairs: Kerala High Court

A Managing Director who was in charge of a company's day-to-day affairs and who signed its cheques can be held vicariously liable for cheque dishonour, the Kerala High Court has held, dismissing a revision plea by a company's former head. Justice M.B. Snehalatha upheld the conviction of V.J. Joseph, the former Managing Director of J and A Foundations Pvt. Ltd., in a cheque dishonour case under Section 138 of the Negotiable Instruments Act. It involved three cheques issued by the company. The...

NCLT Kochi Allows Kitex Group Companies To Proceed With Proposed Demerger

The National Company Law Tribunal (NCLT) at Kochi has cleared the first procedural step in a proposed demerger between the Kitex group. A business undertaking of Kitex Childrenswear Limited is proposed to be transferred to the listed company Kitex Garments Limited. The tribunal has dispensed with several shareholder and creditor meetings while directing votes by public shareholders and unsecured creditors.Part of the Kitex group, Kitex Garments Limited is a Kerala-based exporter of children's...

Company Cannot Cite Its Own Companies Act Breach To Defeat Insolvency Plea Over Unpaid Deposits: NCLAT

The National Company Law Appellate Tribunal (NCLAT)at New Delhi has held that a company cannot evade repayment of deposits by relying on its own violation of the Companies Act, while allowing an appeal against rejection of an insolvency petition.A coram of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra observed that the company was attempting to take advantage of its own wrongdoing in accepting deposits, which is impermissible in law.“..the respondent company is trying to...