NCLT
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,...
Approved Resolution Plan Binds Shareholders, Section 59 Companies Act Cannot Reopen It: NCLT Ahmedabad
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 6 March held that once a resolution plan under the Insolvency and Bankruptcy Code (IBC) is approved, its consequences are binding on all stakeholders, including shareholders, and cannot be reopened through Section 59 proceedings under the Companies Act. A Bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed an appeal by Titus Babu, a shareholder of Sintex Industries Ltd. The NCLT...
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...
NCLT Ahmedabad Dispenses With Shareholder, Creditor Meetings In Alkem Medtech Ortho–Alkem Medtech Amalgamation
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has allowed a company application filed by Alkem Medtech Ortho Pvt. Ltd., clearing the way for its proposed amalgamation with Alkem Medtech Pvt. Ltd. and dispensing with the need to hold meetings of shareholders and creditors. The order was passed on March 27 by Judicial Member Shammi Khan and Technical Member Sanjeev Sharma. Alkem Medtech Ortho, the transferor company, had approached the tribunal under the Companies Act seeking...
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 Ahmedabad Sanctions Fast-Track Amalgamation Of Adani Harbour Services With Adani Ports
On 1 April, the Ahmedabad Bench of the National Company Law Tribunal (NCLT) has sanctioned the scheme of amalgamation of Adani Harbour Services Limited (Transferor Company) with Adani Ports and Special Economic Zone Limited (Transferee Company) under Sections 230–232 of the Companies Act, 2013. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr Velamur G. Venkata Chalapathy held that the scheme is bona fide and serves the interests of shareholders and creditors, noting...
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 Ahmedabad Sanctions Amalgamation Of Global CNC With Windsor Machines
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 19 March, sanctioned the scheme of amalgamation between Global CNC Private Limited (Transferor Company) and Windsor Machines Limited (Transferee Company) under Sections 230 to 232 of the Companies Act, 2013. A Bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held the scheme to be effective from the appointed date of 1 April 2025. They observed:“The Scheme of Amalgamation annexed as Annexure 'G'...
NCLT Ahmedabad Directs Equity Shareholder Meetings For J.B. Chemicals-Torrent Pharmaceuticals Merger
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) directed the companies to convene meetings of equity shareholders of J.B. Chemicals & Pharmaceuticals Ltd. (Transferor Company) and Torrent Pharmaceuticals Ltd. (Transferee Company) in connection with their proposed scheme of amalgamation under Sections 230 to 232 of the Companies Act, 2013. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr Velamur G Venkata Chalapathy delivered the order on 23 March...
NCLT Ahmedabad Sanctions Amalgamation Of Penna Cement Into Ambuja Cements
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 30 March sanctioned the scheme of amalgamation between Penna Cement Industries Ltd. (Transferor Company) and Ambuja Cements Ltd. (Transferee Company) under Sections 230–232 of the Companies Act, 2013. A Bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma approved the scheme, holding that the scheme is fair, reasonable, and in public interest. The Tribunal held: “The objections/observations...
NCLT Chandigarh Confirms UKIBC India's 55.39% Capital Reduction Scheme
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 25 March, approved the petition filed by UK India Business Council India Private Limited seeking a reduction of its share capital under Section 66 of the Companies Act, 2013. A Bench comprising Judicial Member Khetrabasi Biswal and Technical Member Kaushalendra Kumar Singh held: “In view of the submissions made by the Petitioner Company, we are of the considered view that the reduction of share capital of the Petitioner...
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...