NCLT New Delhi Sanctions Amalgamation Of Indo Bevs With 'Brocode' Maker Indospirit Beverages

The New Delhi Bench of the National Company Law Tribunal (NCLT) on 15 July sanctioned the scheme of amalgamation between Indo Bevs Private Limited and Indospirit Beverages Private Limited, the manufacturer of the carbonated wine brand “Brocode”, observing that the Tribunal does not interfere with commercial decisions approved by shareholders and creditors.A Bench comprising Judicial Member Mahendra Khandelwal and Technical Member Anu Jagmohan Singh approved the scheme under Sections 230-232 of...

NCLT Chennai Directs MPS Limited To Convene Meetings For Amalgamation With ADI BPO Services

The Chennai National Company Law Tribunal (NCLT) on 2 July directed MPS Limited to convene meetings of its equity shareholders and unsecured creditors to consider its proposed scheme of amalgamation with wholly-owned subsidiary ADI BPO Services Limited. A Bench of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam held: “Since the Applicant Company has sought for directions for the meeting of the Unsecured Creditors, this Tribunal orders convening, holding and conducting...

NCLT Delhi Directs Creditor Meetings, Dispenses With Shareholder Meetings In Jakson Limited's Demerger Scheme

The National Company Law Tribunal (NCLT) has dispensed with meetings of the equity shareholders of Jakson Limited and Jakson Infra Projects Limited while directing separate meetings of Jakson Limited's secured and unsecured creditors to consider a proposed scheme for the demerger of the company's businesses into Jakson Infra Projects Limited.A Delhi bench of Judicial Member Jyotsna Sharma and Technical Member Anu Jagmohan Singh passed the order on July 15. Jakson Limited, the demerged company,...

Fresh Cause of Action Cannot Be Introduced Through Amendment To Company Petition: NCLT Kochi

The National Company Law Tribunal at Kochi has held that a fresh and independent cause of action cannot ordinarily be introduced through an amendment to an existing company petition. It observed that permitting such an amendment would defeat the objective of summary proceedings under the Companies Act, 2013 and run contrary to the legislative intent underlying Rule 155 of the National Company Law Tribunal Rules, 2016. A bench of Judicial Member Vinay Goel and Technical Member Ravichandran...

NCLT Mumbai Allows DEXIT Global's ₹203 Crore Preference Share Capital Reduction Under Companies Act

The Mumbai Bench of the National Company Law Tribunal (NCLT) on 9 July approved DEXIT Global Limited's (formerly NSEIT Limited) proposal to reduce its preference share capital under Section 66 of the Companies Act, 2013, holding that the reduction was fair, lawful and not against public interest. A Bench of Judicial Member Ashish Kalia and Technical Member Sanjiv Dutt sanctioned the reduction, allowing the company to cancel preference shares worth up to Rs. 203 crore by returning the...

NCLT Mumbai Waives Membership Threshold For Film Producers' Association Members' Oppression Plea

The Mumbai Bench of the National Company Law Tribunal has allowed members of the Indian Motion Picture Producers' Association (IMPPA) to pursue an oppression and mismanagement petition by waiving the statutory membership requirement. It held that the allegations warranted further examination. The tribunal also found that the alleged refusal to approve publicity material for a member's already registered film, if correct, amounted to an exceptional circumstance justifying the waiver. A bench of...

NCLT Ahmedabad Approves J B Chemicals-Torrent Pharmaceuticals Merger Scheme

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 6 July approved the Scheme of Amalgamation between J.B. Chemicals & Pharmaceuticals Ltd. and Torrent Pharmaceuticals Ltd., observing that the merger was bona fide and in the interest of shareholders and creditors. Judicial Member Chithra Hankare and Technical Member Dr. V.G. Venkata Chalapathy sanctioned the scheme and held that the amalgamation would take effect in accordance with its terms. The Bench observed: “We are of...

NCLT Mumbai Approves Merger Of Wholly-Owned Subsidiary Embellish Houses Into Godrej Properties

The Mumbai Bench of the National Company Law Tribunal (NCLT) has recently sanctioned the scheme for amalgamation of Embellish Houses Private Limited, a wholly owned subsidiary of Godrej Properties Limited, with the listed real estate company after finding the proposal to be fair, reasonable, and in accordance with law. The tribunal fixed November 1, 2025, as the appointed date for the merger.A bench of Technical Member Anil Raj Chellan and Judicial Member K.R. Saji Kumar held that the scheme was...

NCLT Chennai Approves Merger Of India Radiators With Mercantile Ventures

The National Company Law Tribunal (NCLT) at Chennai has approved the Scheme of Amalgamation under which India Radiators Limited will merge with Mercantile Ventures Limited, holding that the scheme would benefit the companies and would not be detrimental to the interests of their shareholders.A bench of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam observed,“After analysing the Scheme in detail, this Tribunal is of the view that the Scheme as contemplated amongst the...

NCLT Mumbai Sanctions Sarda Dairy Demerger Scheme With Chhatisgarh Investments

The Mumbai Bench of the National Company Law Tribunal (NCLT) has sanctioned a composite scheme of arrangement involving the demerger of the dairy manufacturing business of Sarda Dairy & Food Products Ltd into Chhatisgarh Investments Ltd.The Tribunal also approved the reorganisation of reserves and reduction of the equity share capital of the demerged company holding that the scheme was fair, reasonable and not contrary to law or public policy.A Bench of Technical Member Anil Raj Chellan and...

NCLT Mumbai Partly Allows Oppression Plea Against Hotmail Founder, Orders Rectification & Compensation

On 2 July, the Mumbai Bench of the National Company Law Tribunal (NCLT) partly allowed an oppression and mismanagement petition against Hotmail founder Sabeer Bhatia and other respondents in relation to Arzoo.com (India) Pvt Ltd, holding that their acts amounted to oppression in the company's shareholding and financial mismanagement through diversion of company funds. Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar granted relief on certain oppression and financial...

Board Cannot Refuse Valid Requisition For EGM, Cannot Judge Its Legality: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi has held that a company's Board of Directors is bound to convene an Extraordinary General Meeting (EGM) once it receives a valid requisition under the Companies Act. The tribunal observed that the Board cannot examine the legality, correctness, or genuineness of such a requisition before acting on it. A bench of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy held, “The Board cannot assume the role of a court or Tribunal...