NCLT Mumbai Directs Piramal Finance Shareholder Vote On Merger Of Three Subsidiaries Into It

The Mumbai bench of the National Company Law Tribunal (NCLT) has cleared the first leg of a scheme to merge three Piramal group subsidiaries into Piramal Finance Limited. However, it directed the listed NBFC to convene a meeting of its equity shareholders, saying they should be given an opportunity to consider the implications of the amalgamation after noting that the transferor companies appeared to have negative net worth. A bench of Judicial Member Sushil Mahadeorao Kochey and Technical...

NCLT Chennai Dismisses Oppression Plea Against Aum Consultancy, Calls Dispute Contractual

The Chennai Bench of the National Company Law Tribunal (NCLT) on 6 May dismissed a petition filed by H. Ramesh against Aum Consultancy Private Limited alleging oppression and mismanagement in the affairs of the company. Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam held that the disputes raised were contractual in nature and did not disclose any continuing oppressive conduct under Sections 241 and 242 of the Companies Act. The Bench observed: “The requirement under...

NCLT Mumbai Allows First Motion Plea In Vidarbha Industries-Adani Power Merger

The National Company Law Tribunal (NCLT) at Mumbai bench on Tuesday (May 12) allowed a first-motion company scheme application for the amalgamation of Vidarbha Industries Power Limited into Adani Power Limited under Sections 230 to 232 of the Companies Act, 2013. A bench of Judicial Member Nilesh Sharma and Technical Member Charanjeet Singh Gulati passed the order. The tribunal noted that Vidarbha Industries Power is a wholly owned subsidiary of Adani Power. It recorded that no shares would be...

NCLT Mumbai Approves Arrka Infosec-Persistent Systems Merger, Says Scheme Fair, Not Against Public Policy

The Mumbai Bench of the National Company Law Tribunal has approved the amalgamation of Arrka Infosec Private Limited, an information technology and IT-enabled services company, with Persistent Systems Limited, a listed technology company. The tribunal observed that the scheme “appears to be fair and reasonable” and is “not contrary to public policy.” The order was passed by a bench of Judicial Member Prabhat Kumar and Technical Member Sushil Mahadeorao Kochey. As a result, Arrka Infosec, a...

NCLT Ahmedabad Allows Ex-Adani Power Director To Compound Companies Act Offences On ₹9.75 Lakh Payment

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has allowed former Adani Power Whole Time Director Vneet S. Jain to compound allegations that included failure to disclose related-party transactions and other accounting irregularities in Adani Power's financial statements. “The material on record does not indicate any direct prejudice to the interests of the shareholders, creditors or the public,” the tribunal observed. Judicial Member Shammi Khan and Technical Member Sanjeev...

NCLT Chennai Sanctions Amalgamation of Sundaram Auto Components With TVS Motor Company

The Chennai Bench of the National Company Law Tribunal (NCLT) on 6 May approved a Scheme of Arrangement providing for the amalgamation of Sundaram Auto Components Limited (transferor company) with its holding company, TVS Motor Company Limited (transferee company). Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam passing the order sanctioning the scheme between the two companies, observed: “In the absence of any other objections having been placed on record before this...

NCLT Chennai Directs Meetings On Dr. Agarwal's Eye Hospital–Health Care Amalgamation Scheme

The Chennai Bench of the National Company Law Tribunal on 5 May allowed the first motion application for the proposed amalgamation of Dr. Agarwal's Eye Hospital Limited (AEHL) with Dr. Agarwal's Health Care Limited (AHCL) and directed convening of meetings of shareholders and creditors of both companies. A Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam passed the order on an application filed by the companies under Sections 230 to 232 of the Companies...

NCLT Kochi Allows MFAR Enterprises To Issue Fresh Preference Shares Under Section 55(3) Companies Act

The National Company Law Tribunal (NCLT) at Kochi on 8 May held that Section 55(3) of the Companies Act, 2013 operates as an independent remedial mechanism where a company is unable to redeem existing preference shares, and permitted issuance of further redeemable preference shares in substitution of unredeemed shares. A Bench of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy allowed MFAR Enterprises Private Limited's petition seeking permission to issue further...

NCLT Ahmedabad Clears First Motion For Amalgamation Of Adani Electricity Mumbai's Subsidiaries Into It

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the first-stage application for the amalgamation of Pointleap Projects Pvt. Ltd. and Superheights Infraspace Pvt. Ltd., two wholly owned subsidiaries of Adani Electricity Mumbai Ltd Into It.The tribunal dispensed with meetings of shareholders and relevant creditors and directed issuance of notices to statutory authorities. The order was passed on May 8 by a coram of Judicial Member Chitra Hankare and Technical Member...

NCLT Chennai Approves Lancor Group Amalgamation, Rejects Objections On Alleged Diversion Of Funds

The Chennai Bench of the National Company Law Tribunal (NCLT) on 27 April held that objections relating to alleged diversion of funds, an ante-dated appointed date, and shareholding structure cannot defeat an otherwise compliant scheme of amalgamation under Section 232 of the Companies Act, 2013, where no prejudice to stakeholders is demonstrated. The Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam approved the amalgamation of Lancor Maintenance and...

NCLT Mumbai Approves First Motion For Amalgamation Of SafeSend, SurePrep With Thomson Reuters

The Mumbai Bench of the National Company Law Tribunal (NCLT) on 4 May allowed the first motion application seeking approval of a scheme of amalgamation involving SafeSend Technologies Private Limited and SurePrep (India) Private Limited with Thomson Reuters International Services Private Limited. A Bench of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan passed the order on 4 May 2026 in a joint application filed under Sections 230 to 232 of the Companies Act, 2013. The...

NCLT Mumbai Admits Puma Energy India Plea For ₹11.35 Crore Share Capital Reduction

The Mumbai Bench of the National Company Law Tribunal (NCLT), on 4 May admitted a company petition under Section 66 of the Companies Act, 2013 filed by Puma Energy India Pvt. Ltd., allowing it to proceed with a proposed reduction of equity share capital by Rs. 11.35 crore through cancellation of shares, subject to statutory compliances and creditor safeguards.A Bench comprising Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan passed the order. Puma Energy...