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...

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...