'Criminal Prosecution Cannot Be A Frolicsome Act': Karnataka HC Quashes Fraud Case Against Ex-Vihaan Director

The Karnataka High Court has recently quashed criminal proceedings against chartered accountant M.N. Gunasheela, a former director of Vihaan Direct Selling (India) Pvt Ltd, in connection with a complaint concerning the affairs of the company. The Court also quashed a Look Out Circular issued against him. Justice M. Nagaprasanna held that the complaint did not disclose any specific role attributable to Gunasheela. The Court also noted that the company's business operations commenced after he...

NCLT Indore Restores Mandovi Marine Pvt. Ltd. Despite Non-Filing Since 1991

The Indore Bench of the National Company Law Tribunal (NCLT) on 2 June, allowed restoration of Mandovi Marine Pvt. Ltd. under Section 252(3) of the Companies Act, 2013, despite the company's prolonged failure to file statutory returns and balance sheets since 1991. Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta held that restoration was just and equitable in the circumstances of the case and allowed the petition filed by shareholders Dileep Naik and Bharati Dilip...

Delhi HC Refuses To Quash Case Against Aryan Energy, Says Coal Beneficiation Issue Must Go To Trial

On 1 June, the Delhi High Court refused to quash criminal proceedings against Aryan Energy Pvt Ltd., holding that whether coal beneficiation amounts to “manufacturing” under the Companies Act, 2013 requires evidence and cannot be decided at the stage of quashing. Justice Neena Bansal Krishna held that the company's claims involve disputed questions of fact that must be decided at trial. She observed: “In light of the aforesaid discussion, it cannot be said that per se Beneficiation of Coal is...

No Impleadment Of Company Secretary In O&M Case Merely For Filing Statutory Forms: NCLT Guwahati

On 1 June, the Guwahati Bench of the National Company Law Tribunal (NCLT) held that a practising Company Secretary cannot be made a party in oppression and mismanagement proceedings under Sections 241 and 242 of the Companies Act, 2013 merely for certifying or filing statutory forms in the course of professional work, unless there are specific allegations of collusion or direct involvement in the company's affairs. Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh...

NCLT Mumbai Sanctions Merger Of Oliver Engineering, Adicca Energy Solutions With Kirloskar Ferrous Industries

The Mumbai Bench of the National Company Law Tribunal (NCLT) on 2 June sanctioned a Scheme of Amalgamation providing for the merger of Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited with Kirloskar Ferrous Industries Limited (KFIL) under Sections 230 to 232 of the Companies Act, 2013. A Bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar allowed the scheme, observing: “Finding the scheme fair, reasonable and not contrary...

NCLT Bengaluru Approves Amalgamation Of Blue Planet Foods And Red Apple Kitchen Consultancy

The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 29 May, approved a Scheme of Amalgamation between Blue Planet Foods Private Limited and Red Apple Kitchen Consultancy Private Limited with effect from 1 April 2024. Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada sanctioned the Scheme, holding that the arrangement satisfied the requirements under Sections 230 to 232 of the Companies Act, 2013 and warranted sanction subject to statutory...

NCLT Approves Merger Of Buildtech Products India With Thermax, Terms Scheme Fair And Reasonable

On 2 June, the Mumbai National Company Law Tribunal (NCLT) sanctioned the merger by absorption of Buildtech Products India Private Limited with Thermax Limited under Sections 230 to 232 of the Companies Act, 2013. A Bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the scheme is fair, reasonable, and not contrary to public policy. It observed: “From the material on record, the Scheme appears to be fair and reasonable and is not in violation...

NCLT Mumbai Clears First Motion In GE Power India–JSW Energy Durgapur Demerger Scheme

The Mumbai Bench of the National Company Law Tribunal (NCLT) on 2 June cleared the first motion application in the proposed demerger of the Durgapur manufacturing business of GE Power India Limited into JSW Energy Limited. A Bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar directed the convening of meetings of shareholders and unsecured creditors of both companies to consider the scheme under Sections 230 to 232 of the Companies Act, 2013. The...

Validity Of Vote Cast On Behalf Of Society At Company's AGM Cannot Be Decided By Who Voted First: Supreme Court

The Supreme Court has recently held that the validity of a vote cast on behalf of a society at a company's annual general meeting cannot be determined merely by who voted first. The Court ruled that voting authority must flow from the society's governing documents and the statutory framework regulating electronic voting. A bench of Justices Vikram Nath and Sandeep Mehta allowed appeals filed by Hindustan Medical Institution, Eastern India Educational Institution and Belle Vue Clinic, all...

NCLT Bengaluru Approves Puresoftware–Happiest Minds Composite Scheme Of Arrangement

The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 29 May sanctioned a Composite Scheme of Arrangement between Puresoftware Technologies, a wholly owned subsidiary, and Happiest Minds Technologies Limited, a listed company. Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held that no impediment existed to approval once the companies addressed concerns raised by statutory authorities. The Bench, however, clarified: “While approving the Scheme, it...

NCLT Indore Restores Struck-Off Company On IT Department's Plea, Affirms Locus As “Creditor” U/S 252(3)

The Indore Bench of the National Company Law Tribunal (NCLT) on 4 May allowed an appeal filed by the Income Tax Department seeking restoration of a struck-off company, holding that the Department qualifies as a “creditor” under Section 252(3) of the Companies Act, 2013 and is entitled to seek revival to pursue pending reassessment proceedings. Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta allowed the appeal and directed restoration of Adaptec Real Estate Pvt. Ltd....

NCLT Bengaluru Clears Scheme Of Amalgamation Between Tritonvalves Climatech And Triton Valves Limited

The Bengaluru National Company Law Tribunal (NCLT) on 29 May 2026 sanctioned a Scheme of Amalgamation between Tritonvalves Climatech Private Limited and Triton Valves Limited after it found no impediment to approval once the companies addressed all concerns raised by statutory authorities. Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada heard the second motion petition seeking approval for the merger of the wholly owned subsidiary with the listed parent company....