NCLT
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...
NCLT Chandigarh Sanctions Merger Of Eight DLF Group Companies Into Highvista Buildcon
The National Company Law Tribunal (NCLT) at Chandigarh has sanctioned a scheme of amalgamation under which eight DLF group companies will merge into Highvista Buildcon Private Limited and stand dissolved without undergoing winding up. Post-merger, Highvista Buildcon will become a wholly owned subsidiary of DLF, one of India's leading real estate developers engaged in residential, commercial and retail projects across major cities.The order was passed by a coram of Judicial Member Khetrabasi...
NCLT Chandigarh Approves Amalgamation Of Livpure Private Limited With Livpure Smart Homes
The National Company Law Tribunal (NCLT) in Chandigarh has approved the merger of Livpure Private Limited with Livpure Smart Homes Private Limited, allowing the two companies to operate as a single entity. The order was passed by Judicial Member Khetrabasi Biswal and Technical Member Kaushalendra Kumar Singh. Approving the scheme, the tribunal observed, “The Composite Scheme contemplated between the petitioner companies, appears to be prima facie in compliance with all the requirements...
NCLT Chandigarh Approves Merger Of Bhamini Real Estate, DLF Urban Into DLF Home Developers
The National Company Law Tribunal (NCLT) at Chandigarh has sanctioned a scheme of amalgamation under which Bhamini Real Estate Developers Private Ltd and DLF Urban Private Ltd will merge into DLF Home Developers Ltd. The transferor companies shall stand dissolved without winding up. The order was passed by Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal. The joint petition was filed under Sections 230 to 232 of the Companies Act, 2013, seeking approval of the merger of...
Former District Judge Deep Chandra Joshi To Serve As Acting President Of NCLT
The Ministry of Corporate Affairs on Friday has notified that Shri Deep Chandra Joshi, Former District Judge, has been appointed as the Acting President of the National Company Law Tribunal with effect from 14 February 2026. He is currently the senior-most member of the NCLT.As per the notification, this follows after the tenure of Justice (Retired) Ramalingam Sudhakar as President of NCLT on 13 February 2026. Invoking Section 415 (1) of the Companies Act, 2013, the Ministry clarified that Deep...
Calcutta High Court Refuses To Quash LOC Against Former Elder Pharma Employee In ₹1,300 Crore SFIO Probe
The Calcutta High Court has refused to quash a Look Out Circular issued against Debanjan Hazra, a former employee of Elder Pharmaceuticals now settled in China, in connection with an SFIO probe into the alleged siphoning of Rs 1,300 crore from the company.Justice Krishna Rao delivered the judgment on February 13, 2026 while hearing a writ petition filed by Hazra challenging the LOC dated February 7, 2025. “In view of the above, this Court did not find any justification to set aside or quash the...
NCLT Ahmedabad Clears First Motion In Vitanosh Ingredients–Lactose India Merger
The National Company Law Tribunal (NCLT) at Ahmedabad has cleared the first motion in the proposed amalgamation of Vitanosh Ingredients Private Limited, a dairy products company with listed lactose manufacturing company Lactose (India) Limited. A coram of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma directed Lactose (India) Limited to convene a meeting of its 16,900 equity shareholders on March 28, 2026 at 10:30 AM through video conferencing or other audio-visual means. The...