NCLT Kochi Restrains Popular Finance Group Companies From Alienating Assets In SFIO-Initiated Winding-Up Pleas

The National Company Law Tribunal (NCLT) at Kochi has restrained Mary Rani Popular Nidhi Limited and other group companies from creating any third-party interest in, transferring, alienating, encumbering, or mortgaging its movable and immovable assets while considering a winding-up petition filed by the Union of India through the Serious Fraud Investigation Office (SFIO). The development comes months after the Kerala High Court closed a plea filed by the MRPN Minority Shareholders Customers...

NCLT New Delhi Rejects Plea To Shift Chennai Bench Case, Finds No Ground For Alleged Bias

On 20 May, the Principal Bench of the National Company Law Tribunal (NCLT) at New Delhi dismissed a transfer application seeking shifting of a pending company petition from the NCLT Chennai Bench-II to another Bench, holding that vague and unsubstantiated allegations of bias cannot justify transfer of proceedings. President Justice Anupinder Singh Grewal reiterated that courts cannot entertain such requests based on dissatisfaction with earlier outcomes, as doing so would encourage bench...

Oppression, Mismanagement Disputes Cannot Be Referred To Arbitration: NCLT Chandigarh

The National Company Law Tribunal (NCLT) at Chandigarh has held that oppression and mismanagement disputes of the nature raised before it cannot be referred to arbitration as such matters fall within the tribunal's exclusive statutory jurisdiction and cannot be privately adjudicated. A bench of Judicial Mmeber Khetrabasi Biswal and Technical Member Shishir Agarwal held, "We are of the view that disputes of the nature raised in the present Petition under Sections 241-242 of the Companies Act,...

NCLT New Delhi Allows First Motion In CDIL–CSPL Demerger Scheme, Orders Creditors' Meeting

On 14 May, the New Delhi Bench of the National Company Law Tribunal (NCLT) passed its first motion order in the joint application filed by Continental Device India Pvt Ltd (CDIL), the demerged company, and CDIL Semiconductors Pvt Ltd (CSPL), the resultant company. Judicial Member Bachu Venkat Balaram Das and Technical Member Ravindra Chaturvedi allowed the application and issued directions for processing the proposed scheme of arrangement. CDIL, incorporated in 1964, manufactures semiconductor...

"Undue Haste": NCLT Hyderabad Stays MBG Commodities EGM To Increase Share Capital Amid Oppression Case

The Hyderabad Bench of the National Company Law Tribunal has stayed an Extraordinary General Meeting proposed by MBG Commodities Pvt Ltd to increase its authorised share capital. The tribunal observed that the company was acting in “undue haste” even as the main oppression and mismanagement petition over its rights issue and capital structure is awaiting orders. A Bench of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri passed the interim order on an application moved by...

NCLT Mumbai Rejects Ex-SNVG Logistics Director's Plea Claiming Forced Share Transfer And Oppression

The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed a petition alleging oppression and mismanagement in the affairs of S.N.V.G. Logistics Private Limited, holding that former director and shareholder Sachin Natrajan failed to establish that his exit from the company and transfer of shares were the result of coercion or intimidation. The tribunal observed: “…..the Petitioner had not filed any complaint in relation to purported threat or intimidation alleged to be caused...

NCLT Bengaluru Sanctions Amalgamation Scheme Of Wholly Owned Subsidiaries Into Kirloskar Electric

The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 30 April 2026 sanctioned the amalgamation of Kelbuzz Trading Company Limited, Luxquisite Parkland Private Limited, SLPKG Estate Holdings Private Limited and SKG Terrra Promenade Private Limited with Kirloskar Electric Company Limited under the Companies Act, 2013.Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada allowed the second motion petition filed by the companies and approved the Scheme of...

NCLT Bengaluru Clears First Motion In Jigsaw Academy-Unext Learning Merger

The National Company Law Tribunal (NCLT) at Bengaluru has allowed the first motion application in the proposed amalgamation of Jigsaw Academy Education Private Limited with Unext Learning Private Limited. A bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada was dealing with the first motion application filed by the companies in relation to the proposed scheme of amalgamation. The companies stated that their respective boards approved the Scheme of...

NCLT Ahmedabad Approves Kunal Plastics-Ecoplast Amalgamation

The Ahmedabad bench of the National Company Law Tribunal has sanctioned the amalgamation of Kunal Plastics Private Limited with Ecoplast Limited, holding that the proposed merger satisfied the requirements of the Companies Act and was bona fide and in the interest of shareholders and creditors.The order was passed on May 14 by Judicial Member Chitra Hankare and Technical Member Dr Velamur G Venkata Chalapathy. The companies had sought approval for the merger with an appointed date of April 1,...

NCLT Mumbai Orders ICAI Action Against Networth Agrotech Auditor Over Backdated Attestation of Financial Statements

The National Company Law Tribunal (NCLT) at Mumbai has recently directed disciplinary action by the Institute of Chartered Accountants of India against former Networth Agrotech India Ltd statutory auditor Dattatray Maruti Khune. It refused, at this stage, to hold that his irregular attestation of the company's backdated financial statements amounted to fraud warranting his removal and debarment. Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the...

NCLT Ahmedabad Sanctions Cello World, Wim Plast, Cello Consumer Products Merger-Demerger Scheme

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has sanctioned a Composite Scheme of Arrangement involving listed houseware and consumer products maker Cello World Limited, Wim Plast Limited, and Cello Consumer Products Private Limited. The bench of Judicial Member Chitra Hankare and Technical Member Dr V.G. Venkata Chalapathy passed the order on May 14, 2026. The joint second motion petition was filed under Sections 230 to 232 of the Companies Act, seeking approval for a...

NCLT Mumbai Approves Cross-Border Merger Of Dubai-Based Group Companies With NMDC Data Centre

The National Company Law Tribunal (NCLT) in Mumbai has approved a cross-border merger under which two Dubai-based group entities will be merged into India's NMDC Data Centre Private Limited. The tribunal held that the scheme was fair, reasonable, and not against public policy. “We have perused the submissions made by the Applicant Companies and the report submitted by all the applicable regulators. From the material on record, the Scheme appears to be fair and reasonable and is not in violation...