COMPANY LAW
NCLT Mumbai Approves First Motion For Amalgamation Of SafeSend, SurePrep With Thomson Reuters
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 4 May allowed the first motion application seeking approval of a scheme of amalgamation involving SafeSend Technologies Private Limited and SurePrep (India) Private Limited with Thomson Reuters International Services Private Limited. A Bench of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan passed the order on 4 May 2026 in a joint application filed under Sections 230 to 232 of the Companies Act, 2013. The...
NCLT Mumbai Admits Puma Energy India Plea For ₹11.35 Crore Share Capital Reduction
The Mumbai Bench of the National Company Law Tribunal (NCLT), on 4 May admitted a company petition under Section 66 of the Companies Act, 2013 filed by Puma Energy India Pvt. Ltd., allowing it to proceed with a proposed reduction of equity share capital by Rs. 11.35 crore through cancellation of shares, subject to statutory compliances and creditor safeguards.A Bench comprising Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan passed the order. Puma Energy...
NCLT Mumbai Allows First Motion In Flexim Flow–Emerson Merger, Orders Shareholders' Meeting
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 4 May allowed the first motion application seeking approval of a merger scheme between Flexim Flow India Private Limited and Emerson Process Management (India) Private Limited, while holding that shareholder approval could not be dispensed with as consent affidavits were not received from all equity shareholders of the transferee company. Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan passed the order in an...
Litigants Cannot Blame Previous Counsel For Own Inaction: NCLT Kochi Refuses To Recall Ex Parte Order
The National Company Law Tribunal (NCLT) at Kochi has refused to recall an ex parte order passed against individuals accused of oppression and mismanagement in Green Hearts Private Limited, finding that they failed to diligently contest the proceedings despite repeated opportunities. “The litigant is under a bounden duty to remain vigilant and diligent in pursuing his/their cause and the proceedings arising therefrom,” Judicial Member Vinay Goel observed. "The Applicant has sought to shift the...
NCLT Mumbai Allows First Motion For Merger Of Docon Technologies With PharmEasy Parent API Holdings
The National Company Law Tribunal's Mumbai Bench on Thursday (May 7) allowed the first motion application in the proposed amalgamation of Docon Technologies Private Limited with API Holdings Limited, the parent entity of digital healthcare and pharmacy platform PharmEasy. A Bench of Judicial Member Lakshmi Gurung and Technical Member Charanjeet Singh Gulati passed the order while dealing with the scheme application filed under Sections 230 to 232 and other applicable provisions of the Companies...
Supreme Court Affirms Investor's Right To Maintain Oppression Plea Despite No Entry In Register Of Members
The Supreme Court has recently held that an investor can, in certain cases, maintain oppression and mismanagement proceedings under the Companies Act, 1956 even if his name was never entered in the company's register of members, particularly where the company had consistently recognised and treated him as a stakeholder. “A conjoint reading of Sections 397, 398 and 399 indicates that the expression “member” cannot be construed in isolation or confined to the technical formulation contained in...
High Courts Cannot Bypass Statutory Remedy Through Writ Jurisdiction: NCLAT Chennai
The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 April held that High Courts should not ordinarily exercise writ jurisdiction under Article 226 when a statutory appellate remedy exists under the Companies Act framework. A Bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain also held that litigants cannot seek exclusion of time under Section 14 of the Limitation Act, 1963 when they approach the wrong forum without acting in...
NCLT Ahmedabad Removes Vision Elevators MD Over Forged Resignation Of Director, Illegal Share Transfer
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has held that the removal of Suryakanta Kothari as director of Vision Elevators Pvt. Ltd. through a forged resignation letter and the transfer of her shares without consent amounted to oppression. It also removed Managing Director Jigneshbhai Shivlal Siparia from his position for the conduct.A bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma found that the resignation letter dated April 20, 2023 and the...
Supreme Court Stays ₹5 Lakh Cost Imposed To Set Aside NBWs In Adarsh Housing SFIO Case
The Supreme Court recently (April 27) issued notice on a petition filed by Meenakshi Modi, an accused in an SFIO case linked to the Adarsh Build Estate housing fraud, to examine the validity of a Rs 5 lakh cost imposed by the Punjab and Haryana High Court while setting aside non-bailable warrants against her. The court stayed the condition till next hearing in August. A bench of Justices Sanjay Kumar and K. Vinod Chandran limited the notice to this aspect and directed Modi to appear...
NCLT Ahmedabad Sanctions Suzlon Energy Scheme To Set Off ₹18,418 Crore Losses By Reorganising Reserves
The Ahmedabad bench of the National Company Law Tribunal has approved Suzlon Energy Limited's plan to set off accumulated losses of about Rs.18,418 crore by reorganising its reserves.The order was passed on April 29, 2026 by Judicial Member Chitra Hankare and Technical Member Dr V.G. Venkata Chalapathy. Suzlon Energy Limited had proposed a scheme of arrangement to reorganise and reclassify its reserves to offset negative retained earnings and improve its financial position. The appointed date...
NCLT Ahmedabad Rejects Registrar Of Companies' Plea to Condon 4215-Day Delay In Restoring Struck-Off Company
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has recently rejected a plea by the Registrar of Companies, Gujarat, to condone a delay of 4215 days in seeking restoration of Maharshi Management Services Pvt. Ltd. to the register of companies. The tribunal held that the delay was not properly explained and no sufficient cause was made out. “Reason for long delay are not satisfactorily explained. No sufficient reason for condonation of delay.” The bench of Judicial Member...
Calcutta High Court Quashes LOC Against Ex-Elder Pharma Employee In ₹1,300 Crore SFIO Probe
The Calcutta High Court has quashed a Look Out Circular against Debanjan Hazra, a former Elder Pharmaceuticals employee living in China since 2013, holding that it violated his right to personal liberty under Article 21.Earlier, a single judge of the Calcutta High Court had refused to quash the Look Out Circular. A Division Bench of Justices Shampa Sarkar and Ajay Kumar Gupta, in appeal, held the LOC was based on “speculative apprehension” and was “arbitrary and disproportionate,”...