Offences Under IBC Triable By Special Court Where Registered Office Is Located: Madhya Pradesh High Court

The Madhya Pradesh High Court on 9 April held that offences under the Insolvency and Bankruptcy Code, 2016 (IBC) must be tried by the Special Court having jurisdiction over the place where the company's registered office is situated, and not on the basis of the residence of directors or the place of alleged non-compliance. A Single-Judge Bench of Justice Rajesh Kumar Gupta directed the Insolvency and Bankruptcy Board of India to file its complaint against Vinay Bhadauria before the...

Death Of Shareholder Led To AGM Default, NCLT Mumbai Compounds Offence, Cuts Fine To ₹1.16 Lakh

Holding that the default occurred on account of the death of a shareholder, the National Company Law Tribunal (NCLT), Mumbai, has compounded the offence arising from the delay in holding the Annual General Meeting of Dighi Agencies Private Limited for FY 2016–17. A coram of Judicial Member Lakshmi Gurung and Technical Member Hariharan Neelakanta Iyer imposed a total compounding fee of Rs. 1.16 lakh, as against the maximum fine computed by the Registrar of Companies at over Rs. 1.63 crore.The...

Calcutta High Court Quashes ROC-Initiated Criminal Proceedings Against Binani Cements Officials Over Filing Error

The Calcutta High Court on Thursday quashed criminal proceedings initiated by the Registrar of Companies against the Company Secretary and a Director of Binani Cements Ltd. over an error in XBRL filings made with the Registrar, holding that the absence of mens rea and non-compliance with the mandatory procedure under Section 202 CrPC rendered the prosecution unsustainable.Justice Uday Kumar, while dealing with criminal revisional applications filed by Atul Pukhraj Falgunia and Ramkrishna...

Madras High Court Refuses To Fast-Track Karti Chidambaram's NCLT Plea Seeking Defreezing Of Bank Account

The Madras High Court on Thursday refused to direct the National Company Law Tribunal (NCLT), Chennai Bench, to expeditiously dispose of an application filed by Karti P. Chidambaram, son of former Union Minister P. Chidambaram, in PMLA proceedings against him, seeking defreezing of his bank account, holding that such directions would place “unnecessary pressure” on judicial forums. A Division Bench of Justice S.M. Subramaniam and Justice K. Surender said constitutional courts must exercise...

NCLT Bar Body Moves Allahabad HC Against Joint Scrutiny Of Allahabad Bench Filings, Alleges Repeated Defect Objections

The Company Law Tribunal Bar Association, Prayagraj, has moved the Allahabad High Court challenging a public notice dated February 27, 2026 issued by the Registrar of the National Company Law Tribunal (NCLT), Principal Bench, which alters the scrutiny mechanism for filings before the Jaipur and Allahabad Benches. Under the impugned notice, scrutiny of matters filed before the NCLT Jaipur Bench is to be undertaken by the Jaipur registry itself, while scrutiny of matters filed before the...

Karnataka High Court Sets Aside $114,041 Decree, Says Time-Barred Claims Cannot Be Revived By Assignment

The Karnataka High Court has recently set aside a Commercial Court order directing Komtech Plastic Technologies India Pvt. Ltd. to pay USD 114,041 to Zrii Technologies Inc., holding that a time-barred claim cannot be revived through assignment of receivables, while modifying relief granted on equity shares.A Division Bench of Chief Justice Vibhu Bakhru and Justice C.M. Poonacha held that the Commercial Court had erred in treating the dispute as a declaratory suit and in concluding that the claim...

Civil Courts Cannot Decide Shareholder Disputes Requiring Rectification Of Register: Bombay High Court

On 6 April, the Bombay High Court held that only the NCLT can decide disputes over shareholding or rectification of the register of members, and civil courts have no jurisdiction under Section 430 of the Companies Act, 2013. A Bench of Justice R.I. Chagla heard Notices of Motion in a suit filed by the son and ex-wife of a deceased shareholder of Panache Securities Pvt Ltd, who alleged that individuals claiming to act on behalf of the company fraudulently transferred shares, removed a director,...

HSCC MD Not A 'Civil Post' Under Union, CAT Lacks Jurisdiction: Delhi High Court

The Delhi High Court has held that the managing director of HSCC India, a government-owned company, does not hold a civil post under the Union and therefore cannot invoke the jurisdiction of the Central Administrative Tribunal.A bench of Justices Anil Kshetarpal and Amit Mahajan said the position was corporate in nature. “Having meticulously examined the nature of the post held by the Respondent No.1, and upon drawing a clear distinction between an employee of the Union and an employee of an...

Service Of Notice On One Partner Deemed Service On All Under Presidency Towns Insolvency Act: Bombay HC

The Bombay High Court has held that service of an insolvency notice on a firm or any one of its partners amounts to valid service on all partners under the Presidency Towns Insolvency Act, 1909. The court rejected the argument that limitation should be counted from the last date of service on each partner. A single-judge bench of Justice Jitendra Jain was hearing an insolvency petition where the judgment debtors challenged its maintainability under Section 12(1)(c) of the Presidency Towns...

Bombay High Court Allows Raj Kundra's Company To Challenge UK Anti-Suit Injunction In Rajasthan Royals Dispute

The Bombay High Court on Monday granted leave under Clause XII of the Letters Patent to Kuki Investments Limited, a company owned by Raj Kundra, to institute a suit challenging an anti-suit injunction passed by the High Court of England and Wales in a dispute relating to the affairs of IPL franchise Rajasthan Royals. Allowing the petition seeking permission to file the suit against Emerging Media Ventures Ltd. and others, Justice Abhay Ahuja observed that the court was satisfied that grounds...

Calcutta High Court Holds Issue Of Appointing Woman Director Triable In Case Against Rashmi Metaliks

Today, the Calcutta High Court refused to quash criminal proceedings against Rashmi Metaliks Ltd and its directors for alleged non-compliance with the mandatory requirement under Section 149 of the Companies Act to appoint at least one woman director. A Single-Judge Bench of Justice Ajay Kumar Gupta was hearing a criminal revision petition under Section 482 CrPC challenging proceedings pending before the Chief Judicial Magistrate, Alipore, including an order dated 19 September 2015. He...

Extending Vigil Mechanism To Unlisted Companies Is Policy Decision; Delhi High Court Asks MCA To Consider After Consultation

The Delhi High Court has observed that the question of extending the vigil/whistleblower mechanism prescribed under Section 177 of the Companies Act, 2013, to unlisted companies is a matter of legislative policy and cannot be directed by courts through judicial orders.A Division Bench of Justices Prathiba M. Singh and Madhu Jain thus directed the Union Ministry of Corporate Affairs to undertake a stakeholder consultation in this regard, and thereafter take a decision, within a reasonable period,...