Delhi High Court Refuses To Quash Criminal Case Against Supertech Directors Over Hill Town Project

The Delhi High Court has refused to quash criminal proceedings against directors of real estate company Supertech Limited over allegations of cheating, criminal breach of trust and criminal conspiracy linked to its Hill Town project in Sohna, Haryana.Justice Madhu Jain was dealing with three connected petitions arising from an FIR registered by the Economic Offences Wing over alleged non-delivery of flats, discontinuation of pre-EMI payments and alleged diversion and utilisation of funds...

Challenge To One Respondent's Maintainability Cannot Dismiss Entire Company Petition: NCLT Guwahati

The National Company Law Tribunal (NCLT) at Guwahati has held that a party cannot seek dismissal of an entire company petition when its pleadings only challenge the maintainability of proceedings against one particular respondent. A Bench of Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh dismissed an application filed by Meghmellar Estates and Services Private Limited and its directors, who challenged the maintainability of a company petition alleging oppression...

Company Can Be Prosecuted For Criminal Offences Without Identifying Guilty Natural Person: Supreme Court

The Supreme Court on Monday held that identification of a natural person is not a prerequisite, at the threshold stage, for prosecuting a corporate entity for an offence involving mens rea.A Division Bench comprising Justices J.B. Pardiwala and Manoj Misra made the observation while dismissing an appeal filed by Sanofi India Limited against the Karnataka High Court's refusal to quash criminal proceedings arising from a CBI chargesheet.“All that is required, at this stage, is that an offence be...

NCLT Guwahati Dismisses Department's Sapphire Suppliers Restoration Plea, Says NCLAT Appeal Pending

The National Company Law Tribunal (NCLT) at Guwahati has dismissed the Income Tax Department's petition seeking restoration of Sapphire Suppliers Private Limited, holding that the issue was already pending before the National Company Law Appellate Tribunal (NCLAT) and that proceeding with the petition could lead to conflicting decisions and multiplicity of proceedings. A Bench of Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh held that the petition should not be...

Companies Act Sec. 131 Doesn't Bar 3rd Party Impleadment Under NCLT's Inherent Powers: NCLT Bengaluru

The National Company Law Tribunal (NCLT) at Bengaluru has held that the absence of an express provision for impleading third parties under Section 131 of the Companies Act, 2013 does not curtail its inherent powers under Rule 11 of the NCLT Rules, 2016 to permit the participation of persons necessary for effective adjudication. Section 131 permits a company to revise its financial statements or Board's report when they do not comply with the provisions of the Act.A Bench of Judicial Member Sunil...

LiveLawBiz Company Law Monthly Digest: August 2026

SUPREME COURTSupreme Court Dismisses NSEL Plea For Joint Trial In Two CBI Cases Over 2013 Payment CrisisThe Supreme Court on Wednesday dismissed National Spot Exchange Ltd.'s (NSEL) challenge to the Bombay High Court's March 27, 2026 judgment. The Bombay High Court had refused to direct a joint trial in two CBI cases arising from the alleged 2013 NSEL payment crisis.Case Title : National Spot Exchange Limited vs The Central Bureau of Investigation Bank Securities and Fraud Cell Case Number : ...

Official Liquidator Gets 3 Years From Winding Up Order To File Claim: Kerala High Court

The Kerala High Court on 31 August held that a claim instituted by an Official Liquidator under Section 446 of the Companies Act, 1956, in respect of a legally enforceable claim is governed by the three year limitation period under Article 137 of the Limitation Act, 1963, reckoned from the date of the winding up order, with the benefit of the additional one year period under Section 458A of the Companies Act. Justice Harisankar V Menon rejected the respondent, Miny Zachariah's objection that...

NCLT Chennai Approves TVS Holdings Scheme For 46 Bonus Preference Shares Per Equity Share

The National Company Law Tribunal (NCLT) at Chennai on 18 August sanctioned a Scheme of Arrangement proposed by TVS Holdings Limited to issue 46 bonus preference shares to its equity shareholders for every one equity share held by them. A Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam approved the Scheme, observing that it appeared to be beneficial to the shareholders and would not be detrimental to their interests. It held: “...this Tribunal is of...

NCLT Bengaluru Approves Merger Of Aureustech Systems With Happiest Minds Technologies

On 10 August, the National Company Law Tribunal (NCLT) at Bengaluru sanctioned the Scheme of Amalgamation between Aureustech Systems Private Limited and Happiest Minds Technologies Limited, with 1 April 2026 as the appointed date. A Bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada approved the Scheme. They observed: “The requisite undertakings have been furnished and certification completed. Perceptibly the concerned Statutory Authorities are...

Delhi High Court Upholds Restoration Of Shareholding After 964 Shares Allotted During Restraint Order

The Delhi High Court has upheld an order directing restoration of the shareholding pattern of Moral Properties Private Limited after its Board allotted 964 fresh shares while a restraint order concerning the company's properties was in force.Justice Manoj Kumar Ohri dismissed an appeal against the order passed by the Additional District Judge, South District, Saket Courts, which found that the allotment violated the restraint order and directed restoration of the earlier shareholding pattern.The...

Shareholder With Less Than 10% Holding Can Pursue Oppression Petition With NCLT Exemption: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi has clarified that a shareholder holding less than 10% of a company's share capital is not barred from filing an oppression and mismanagement petition, subject to obtaining the requisite exemption from the tribunal.A coram of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy made the observation while dismissing two applications challenging the maintainability of an oppression and mismanagement plea against Vettathu Nadu...

Pending Civil, Criminal Cases No Bar To LLP Investigation If Independent Probe Warranted: NCLT Jaipur

The Jaipur National Company Law Tribunal (NCLT), has held that the mere pendency of civil and criminal proceedings between parties cannot prevent an investigation into the affairs of a Limited Liability Partnership (LLP) if the material on record indicates circumstances requiring independent scrutiny. A Bench of Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar directed an investigation into the affairs of RKM Merchandise LLP under Section 43 of the Limited Liability Partnership...