COMPANY LAW
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'...
NCLT Delhi Sanctions Merger Of Masibus Automation Into Sonepar India
The National Company Law Tribunal (NCLT) at Delhi has approved the amalgamation of Masibus Automation and Instrumentation Pvt. Ltd. with Sonepar India Pvt. Ltd., allowing the latter to absorb its subsidiary as part of a consolidation of operations. The order was passed on March 3, 2026, by Judicial Member Bachu Venkat Balaram Das and Technical Member Reena Sinha Puri of the NCLT's New Delhi Bench. Sonepar India, which moved the petition, told the tribunal that the merger would help streamline...
LiveLawBiz Company Law Monthly Digest: February-2026
SUPREME COURTByju's Parent Moves Supreme Court To Stall Second Tranche Of Aakash ₹240 Crore Rights IssueCase Title: Think and Learn Private Limited (In CIRP), through its Resolution Professional, Shailendra Ajmera, versus Aakash Educational Services Limited and othersCase Number: C.A. NO. 1604-1605/2026Think & Learn Pvt. Ltd., which owns edtech major Byju's, has moved the Supreme Court against a National Company Law Appellate Tribunal (NCLAT) order that allowed Aakash Educational...
NCLAT Modifies NCLT Order Dismissing Company Petition for Non-Joinder of Necessary Party, Allows Impleadment
The National Company Law Appellate Tribunal at Chennai recently modified an order of the NCLT which had dismissed a company petition on the ground of non-joinder of a necessary party.The NCLT Amravati had dismissed a company petition filed by two individuals after observing that the principal relief was sought against Al-Sami Food Exports Pvt Ltd, which had not been made a party. Since the matter had reached the stage of arguments, the tribunal declined to permit addition of the party at that...
Supreme Court Makes Absolute Interim Protection To Deepak Garg In Rs 1596 Crore SRS Fraud Case
The Supreme Court on Thursday made absolute the interim protection it had earlier granted to Deepak Garg, a Director of SRS Finance Ltd and SRS Shining Ornaments Ltd, during the pendency of his special leave petitions challenging the Punjab and Haryana High Court's refusal of anticipatory bail in the alleged Rs 1,596 crore SRS Group financial fraud case. A Bench of Justices Vikram Nath and Sandeep Mehta said, “Taking into consideration the facts and circumstances of the case and upon hearing...
NCLT Bengaluru Approves First Motion In Aureustech–Happiest Minds Merger
The National Company Law Tribunal (NCLT) at Bengaluru on 13 February allowed the first motion application in the proposed merger of Aureustech Systems Private Limited with Happiest Minds Technologies Limited. A Bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada considered the application filed by the companies seeking directions in relation to the proposed scheme of amalgamation. The Bench also recorded that no investigation proceedings are pending...
NCLAT Dismisses Jindal Poly Films' Appeal Challenging Maintainability Of Minority Shareholders' Class Action Suit
The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed an appeal filed by Jindal Poly Films Limited challenging an order of the National Company Law Tribunal that had allowed a class action petition under Section 245 of the Companies Act, 2013 to proceed against the company. The appeal was heard by a bench comprising Judicial Member Justice Yogesh Khanna and Technical Member Ajai Das Mehrotra, which declined to interfere with the NCLT's findings and...
NCLT Mumbai Admits P&G Home Products' ₹3.15 Crore Capital Reduction Plan, Directs Notice To Creditors
The National Company Law Tribunal (NCLT) at Mumbai has admitted a plea filed by Procter & Gamble Home Products Pvt Ltd, the Indian home care arm of US-based consumer goods major Procter & Gamble seeking approval for reduction of its Rs. 3.15 crore equity share capital under the Companies Act.A coram of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan after hearing the company, directed it to serve notices on creditors, the Regional Director (Western Region) and the...