NCLT Ahmedabad Clears First Motion For Amalgamation Of Adani Electricity Mumbai's Subsidiaries Into It

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the first-stage application for the amalgamation of Pointleap Projects Pvt. Ltd. and Superheights Infraspace Pvt. Ltd., two wholly owned subsidiaries of Adani Electricity Mumbai Ltd Into It.The tribunal dispensed with meetings of shareholders and relevant creditors and directed issuance of notices to statutory authorities. The order was passed on May 8 by a coram of Judicial Member Chitra Hankare and Technical Member...

NCLT Has Exclusive Jurisdiction Over Internal Company Mismanagement Disputes: Bombay High Court

The Bombay High Court on 4 May held that civil courts cannot entertain interim relief claims arising from allegations of internal company mismanagement, as such disputes fall within the jurisdiction of the National Company Law Tribunal (NCLT) under the Companies Act, 2013. Justice Gauri Godse dismissed interim applications filed by Ocean Deity Investment Holdings Ltd. and Mack Star Marketing Pvt. Ltd. against Vikram Homes Pvt. Ltd. in a dispute concerning the sale of commercial units allegedly...

Transactions During Winding-Up Can Be Validated If Beneficial To Creditors: Bombay High Court

The Bombay High Court on 4 May held that transactions entered into during pendency of winding-up proceedings ought to be validated if they benefit the company or its creditors. The Court accordingly rejected the Official Liquidator's plea seeking to declare void a Rs. 27 crore sale of Milestone Interactive Pvt. Ltd.'s property in favour of M.M. Styles Private Limited. Justice Arif S. Doctor validated the transaction executed on 9 September 2016 during pendency of the winding-up proceedings,...

NCLT Chennai Approves Lancor Group Amalgamation, Rejects Objections On Alleged Diversion Of Funds

The Chennai Bench of the National Company Law Tribunal (NCLT) on 27 April held that objections relating to alleged diversion of funds, an ante-dated appointed date, and shareholding structure cannot defeat an otherwise compliant scheme of amalgamation under Section 232 of the Companies Act, 2013, where no prejudice to stakeholders is demonstrated. The Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam approved the amalgamation of Lancor Maintenance and...

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...