NCLT
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...
NCLT Bengaluru Cancels Rights Share Allotment In Sha's Airborne Travels, Orders Register Rectification
The National Company Law Tribunal at Bengaluru on 11 February, set aside the allotment of 59,500 equity shares made in favour of a director of Sha's Airborne Travels Pvt Ltd, holding that the increase in authorised share capital and the subsequent rights issue were illegal and void ab initio. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held that the impugned actions were carried out unilaterally and amounted to unilateral dilution of the promoters'...
NCLT Delhi Sanctions Merger Of Masibus Automation Into Sonepar India
The National Company Law Tribunal (NCLT) at Delhi has approved the amalgamation of Masibus Automation and Instrumentation Pvt. Ltd. with Sonepar India Pvt. Ltd., allowing the latter to absorb its subsidiary as part of a consolidation of operations. The order was passed on March 3, 2026, by Judicial Member Bachu Venkat Balaram Das and Technical Member Reena Sinha Puri of the NCLT's New Delhi Bench. Sonepar India, which moved the petition, told the tribunal that the merger would help streamline...
NCLT Bengaluru Approves First Motion In Aureustech–Happiest Minds Merger
The National Company Law Tribunal (NCLT) at Bengaluru on 13 February allowed the first motion application in the proposed merger of Aureustech Systems Private Limited with Happiest Minds Technologies Limited. A Bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada considered the application filed by the companies seeking directions in relation to the proposed scheme of amalgamation. The Bench also recorded that no investigation proceedings are pending...
NCLT Mumbai Admits P&G Home Products' ₹3.15 Crore Capital Reduction Plan, Directs Notice To Creditors
The National Company Law Tribunal (NCLT) at Mumbai has admitted a plea filed by Procter & Gamble Home Products Pvt Ltd, the Indian home care arm of US-based consumer goods major Procter & Gamble seeking approval for reduction of its Rs. 3.15 crore equity share capital under the Companies Act.A coram of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan after hearing the company, directed it to serve notices on creditors, the Regional Director (Western Region) and the...
NCLT Finds Jawed Akhter's Conduct Oppressive, Structures Exit From Jawed Habib Hair and Beauty
The National Company Law Tribunal (NCLT) at Mumbai has held that acts of financial mismanagement by promoter Jawed Akhter amounted to oppression under the Companies Act, while also finding that attempts by the RBPL group to alter the board structure of Jawed Habib Hair and Beauty Ltd were similarly oppressive. While finding JA's conduct prejudicial to the company's interests, a bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar observed:“We have found the...
NCLT Mumbai Sanctions Merger Between Mirae Asset Sharekhan and Mirae Asset Financial Services
The National Company Law Tribunal at Mumbai has approved the second motion petition for merger between Mirae Asset Sharekhan Financial Services Ltd and Mirae Asset Financial Services (India) Pvt Ltd, consolidating the Mirae Asset Group's NBFC operationsA coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar while sanctioning the merger scheme on February 24 observed:“From material on record, the Scheme appears to be fair and reasonable and is not in violation of...
NCLT Chandigarh Allows First Motion In Jindaljyoti–Kingspan Jindal Amalgamation, Orders Creditor Meetings
The National Company Law Tribunal (NCLT), Chandigarh Bench, has cleared the first step in the proposed scheme of arrangement between Jindaljyoti Prefab Private Limited and Kingspan Jindal Private Limited, waiving the need to hold meetings of equity shareholders of both companies and the unsecured creditor of the transferor company, while directing that meetings of the secured and unsecured creditors of the transferee company be convened. The order was passed by a Bench comprising Judicial...
NCLAT Dismisses Appeal Against Order Allowing Former Promoters To Represent Aquafil Polymers
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently dismissed as infructuous an appeal filed by majority shareholder Dr. Anita Roy against an interim order permitting the former promoters of Aquafil Polymers Company Private Limited to represent the company in pending proceedings. The tribunal held that in view of a subsequent comprehensive order passed in July 2025 appointing an Independent Administrator and directing a forensic audit, no effective relief could now be...
NCLT Ahmedabad Approves Adicon Tiles Demerger Into Asian Granito Subsidiary
The National Company Law Tribunal at Ahmedabad has approved a Composite Scheme of Arrangement involving Asian Granito India Ltd (AGIL), the listed holding company of the Adicon group. A coram comprising Judicial Member Shammi Khan and Technical Member Sanjeev Kumar Sharma allowed the petition under Sections 230 to 232 of the Companies Act, 2013, with an Appointed Date of October 16, 2023.As part of the restructuring, the tiles manufacturing undertaking of Adicon Ceramica Tiles Pvt Ltd will...
NCLT Appoints Interim Administrator To Manage Mangalam Publications Amid Family Dispute
The National Company Law Tribunal at Kochi has recently appointed an Interim Administrator to take over the management of Mangalam Publications (India) Private Limited, publisher of the Malayalam daily Mangalam and several weekly magazines, amid an ongoing family dispute over control of the company.A coram of Judicial Member Vinay Goel observed that the continuing disputes between shareholders and the management were adversely affecting the company's business and the interests of its employees...