NCLT Chennai Allows First Motion In Apollo Hospitals Scheme, Orders Stakeholder Meetings

The National Company Law Tribunal (NCLT) at Chennai has recently directed meetings of equity shareholders as well as secured and unsecured creditors, while dispensing with such meetings in certain cases, in a composite scheme of arrangement involving Apollo group companies. A coram of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy was dealing with a joint application filed by Apollo Hospitals Enterprise Limited, Apollo Healthco Limited, Keimed Private Limited,...

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...

Impleadment Not Allowed Without Pleadings Or Relief Against Proposed Parties: NCLT Kochi

The National Company Law Tribunal (NCLT) Kochi has held that additional parties cannot be impleaded in company law proceedings in the absence of foundational pleadings and specific reliefs against them, underscoring that such a move would impermissibly expand the scope of the dispute. A coram of Judicial Member Vinay Goel said, “this Adjudicating Authority is of the considered opinion that an application for impleadment cannot be allowed in the absence of any proposed amendment to the pleadings...

Restoring Struck-Off Company For Pending Tax Proceedings Won't Remove Directors' Disqualification: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad has clarified that restoring a struck-off company does not automatically lift the bar on its directors from serving on the boards of other companies. A coram of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma said, “It is clarified that restoration of the Company shall not automatically remove disqualification of directors under Section 164(2) of the Companies Act, 2013 and such consequences shall be governed independently...

NCLT Chennai Sanctions Cultfit Group Restructuring Scheme

The National Company Law Tribunal (NCLT) at Chennai has recently approved a composite scheme of arrangement involving Cultfit group companies, which run a fitness and wellness platform offering gym memberships, training programmes and digital health services. A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam passed the order. The petition was filed by Cultfit Healthcare Private Limited, Curefit Services Private Limited, and Curefit Healthcare Private Limited...

NCLT Chennai Compounds AGM Delays By Seal Infotech, Imposes ₹17.61 Lakh Penalty On Company, Directors

The National Company Law Tribunal (NCLT) at Chennai has recently compounded delays of up to 587 days in holding Annual General Meetings by Seal Infotech Private Limited, taking a lenient view and imposing penalties aggregating to Rs 17.61 lakh. A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam passed the order. The tribunal was dealing with three petitions filed by the company and its directors seeking compounding of offences for failure to hold Annual...

Share Capital Reduction A 'Domestic Decision', Minority Shareholders Can't Veto It: NCLT Chennai

The National Company Law Tribunal (NCLT) at Chennai has approved a scheme of reduction of share capital for Ocean Healthcare Private Limited, holding that the reduction of share capital under Section 66 of the Companies Act is a “Domestic decision” of the company, with minority shareholders not having a “Veto Right”. A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam passed the order. Referring to precedents, the Bench observed: "It is imperative to take note...

NCLT Kochi Allows First Motion In Scheme To Merge 51 Malabar Group Companies Into Malabar Gold

The National Company Law Tribunal (NCLT) Kochi on Wednesday allowed the first-motion application in a composite scheme of amalgamation involving the merger of 51 Malabar Group companies into Malabar Gold and Diamonds Limited. The order was passed by Judicial Member Vinay Goel on a joint application filed under Sections 230-232 of the Companies Act seeking directions regarding meetings of shareholders and creditors for approval of the proposed scheme. The tribunal dispensed with meetings in 10...

NCLT Mumbai Allows BASF India's First Motion In Demerger Scheme, Dispenses With Meetings Of Shareholders, Creditors

The National Company Law Tribunal (NCLT) at Mumbai on Friday allowed a plea filed by BASF India Ltd and BASF Agricultural Solutions India Ltd seeking directions in relation to a proposed demerger of the agricultural solutions business. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar was dealing with an application under Sections 230 to 232 of the Companies Act seeking dispensation of meetings of shareholders and creditors. The scheme was approved by the...

NCLT Chennai Allows First-Motion Application In Veranda Learning Amalgamation-Demerger Scheme

The Chennai Bench of the National Company Law Tribunal on 18 March allowed the first motion application for a composite scheme of amalgamation and demerger involving Veranda Learning Solutions Ltd, J.K. Shah Commerce Education Ltd, and Veranda XL Learning Solutions Pvt Ltd. A Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam considered a batch of applications filed under Sections 230–232 of the Companies Act, 2013, relating to the composite scheme. It...

NCLT Chennai Directs TVS Holdings' Shareholders' Meeting for Surplus Reserve Scheme

On 18 March, the National Company Law Tribunal, Chennai directed TVS Holdings Ltd to hold a meeting of its equity shareholders to approve a plan for using surplus reserves. It also dispensed meetings for unsecured creditors and debenture holders as they had already given their consent. A Bench of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam heard the company's application under Sections 230–232 of the Companies Act, 2013, which sought approval for a scheme to...

NCLT Ahmedabad Sanctions Prima Plastics Demerger Of Rotational Moulding Business Into Subsidiary

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has recently sanctioned a Scheme of Arrangement providing for the demerger of the Rotational Moulding Business of Prima Plastics Limited into its wholly owned subsidiary, Prima Innovation Limited. The order was passed by Judicial Member Shammi Khan and Technical Member Sanjeev Sharma on March 16, 2026. The appointed date is July 1, 2024. Prima Plastics Limited is listed on BSE Limited, while Prima Innovation Limited is its...