CompanyLaw/ LLP/MSME
NCLT Kochi Restores Winding-Up Petition After 3-Year Delay, Notes Provisional Liquidator Already Appointed
The National Company Law Tribunal (NCLT) at Kochi restored a winding-up petition dismissed for non-prosecution despite a delay of over three years, noting that a Provisional Liquidator had already been appointed and the company's affairs were under the tribunal's supervision.A coram of Judicial Member Vinay Goel held that dismissal without adjudication on merits could create uncertainty regarding the status of the company and its assets.“This Tribunal is guided by the principles of natural...
Indemnity Bond Not Required When Succession Certificate Is Filed Under IEPF Rules: Gujarat High Court
The Gujarat High Court on 9 March held that where a claimant has already furnished a valid succession certificate under the Investor Education and Protection Fund (IEPF) Rules for transfer of shares, an indemnity bond cannot be insisted upon. Justice Hemant M Prachchhak observed that the requirement to furnish an indemnity bond arises only in the absence of documents such as a succession certificate, and authorities cannot impose additional conditions not contemplated under the Rules. He noted:...
NCLT Approves Adani Group Scheme To Consolidate Its Green Hydrogen, Renewable Energy Businesses
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on Monday sanctioned a composite scheme of arrangement involving multiple Adani Group entities for consolidation of their green hydrogen and renewable energy businesses within Adani Enterprises Ltd. and Adani New Industries Ltd. under a unified corporate structure The order was delivered by Judicial Member Shammi Khan and Technical Member Sanjeev Sharma on March 16, 2026, approving the amalgamation of Adani Green Technology Ltd....
NCLT Chennai Approves Amalgamation Of Ind Eco Ventures Ltd With Indowind Energy Ltd
The National Company Law Tribunal (NCLT), Chennai, has approved a scheme of amalgamation between Ind Eco Ventures Limited and Indowind Energy Limited, a wholly owned subsidiary of Indowind. A Bench of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy allowed the joint petition filed under Sections 230–232 of the Companies Act, 2013, after considering the reports and observations of statutory authorities, including the Regional Director, Official Liquidator, and...
NCLT Chennai Approves Merger Of Helios Strategic Systems With Listed Indo-National
The Chennai National Company Law Tribunal (NCLT) on 10 March, approved a Scheme of Amalgamation between Helios Strategic Systems Limited and Indo-National Limited. A Bench of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy allowed the joint petition filed under Sections 230 to 232 of the Companies Act, 2013, holding that: “the scheme as contemplated by the Petitioner companies seems to be prima facie not, in any way detrimental to the interest of the...
NCLT Chennai Approves Merger Of Four Group Companies With India Cements Ltd
The National Company Law Tribunal (NCLT), Chennai Bench, has sanctioned a Scheme of Amalgamation involving four companies of the India Cements group with The India Cements Limited. A coram comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam allowed a joint company petition filed under Sections 230 to 232 of the Companies Act, 2013, seeking approval of the scheme of amalgamation. The scheme provides for the amalgamation of ICL Financial Services Limited, ICL...
Condonation Of Delay In Filing Returns For Company Not Available To Directors: Kerala High Court
The Kerala High Court on Thursday held that condonation of delay in filing annual returns does not wipe out the statutory disqualification incurred by directors for failure to file returns for consecutive financial years. The court observed that the benefit of condonation available to the company cannot be extended to its directors. The court held that the office-bearers of the Aruvipuram Sree Narayana Dharma Paripalana Yogam, including V.K. Natesan, Dr. M.N. Soman, Thushar Vellappally and...
Special Resolution Under Companies Act Needed Only For Sale Of Undertakings, Not Individual Assets: NCLAT
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Monday held that shareholder approval through a special resolution under Section 180(1)(a) of the Companies Act, 2013, is required only when a company sells an "undertaking." The provision does not apply when a company disposes of an individual asset. Section 180 of the Companies Act restricts certain powers of a company's board of directors. It requires prior approval of shareholders through a special resolution when a company...
NCLT Kochi Allows First Motion Plea In Kalyan Silks Demerger, Orders Unsecured Creditors' Meeting
The National Company Law Tribunal (NCLT) at Kochi on Monday allowed a first motion joint company application filed in connection with a proposed scheme of arrangement in the nature of a demerger between Thrissur-based textile retailer Kalyan Silks' group companies, Kalyan Silks Trichur Private Limited and Kalyan Silks Private Limited. The Tribunal also directed that a meeting of unsecured creditors of the demerged company be convened to consider the scheme. Judicial Member Vinay Goel passed the...
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...