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...

NCLT Mumbai Approves Merger Of Three JSW Steel Subsidiaries With Parent Company

The Mumbai bench of the National Company Law Tribunal approved the merger of JSW Steel Ltd's three wholly owned subsidiaries, Amba River Coke Ltd, Monnet Cement Ltd., and JSW Retail and Distribution Ltd, into the parent companyThe bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the scheme was fair, reasonable and not contrary to law or public policy.The merger aims to simplify the JSW Group's corporate structure, improve operational efficiency,...

NCLT Mumbai Approves Merger Of Jaypore, TG Apparel Into Aditya Birla Fashion & Retail

The Mumbai Bench of the National Company Law Tribunal (NCLT) on Thursday approved the merger of Jaypore E-Commerce Pvt Ltd and TG Apparel & Decor Pvt Ltd, both wholly owned subsidiaries, into Aditya Birla Fashion and Retail LtdA coral of Technical Member Prabhat Kumar and Judicial Member Sushil Mahadeorao Kochey held that the scheme was fair, reasonable and not contrary to law or public policy."From the material on record, the Scheme appears to be fair and reasonable and is not in violation...

NCLT Mumbai Approves Cross-Border Merger Of UAE Legal Consultancy Company With Indian Parent

The Mumbai bench of the National Company Law Tribunal (NCLT) has recently approved the cross-border merger of Begur International Legal Counsellors FZ-LLC, a UAE-based company engaged in legal consultancy, with its Indian parent, Pranesh Eservices Private Ltd. The tribunal found the proposed scheme to be fair, reasonable, and not contrary to law or public policy. A tribunal comprising Judicial Member Lakshmi Gurung and Technical Member Hariharan Neelakanta Iyer held that all statutory...

NCLT Chennai Defreezes Karti Chidambaram's Salary & Family Accounts, Partly Relaxes SFIO Freezing Order

On June 19, the Chennai Bench of the National Company Law Tribunal (NCLT) ordered the defreezing of Congress MP Karti P. Chidambaram's salary account and the bank accounts of his family members. However, it directed that the freeze on his other personal bank accounts, fixed deposits, and movable assets would continue in connection with an ongoing Serious Fraud Investigation Office (SFIO) probe under Section 212(14A) of the Companies Act, 2013.Judicial Member Jyoti Kumar Tripathi and Technical...

NCLT Chennai Clears First Motion For Refex Industries' Green Mobility Business Restructuring

The National Company Law Tribunal (NCLT) at Chennai has allowed the first motion application filed by Refex Industries Limited (RIL) in relation to a composite scheme of amalgamation and arrangement involving Refex Green Mobility Limited (RGML) and Refex Mobility Limited (RML).RGML and RML are the wholly owned subsidiaries of RIL, whose shares are listed on the Bombay Stock Exchange and National Stock Exchange. A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman...

NCLT Ahmedabad Orders Secured Creditors' Meeting In Resolute Corp Bharat Demerger Scheme

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has recently directed a meeting of the secured creditors of Resolute Corp Bharat Pvt Ltd in relation to a proposed demerger of its agro-commodity trading business into Growthspirit Trading Pvt Ltd. The tribunal found that while the secured creditors had submitted consent and no-objection letters, they had not furnished affidavits required for dispensation of their meeting. The order was passed by Judicial Member Shammi Khan and...

NCLT Mumbai Holds AGM Default Compoundable, Levies ₹40.90 Lakh On Kolhapur Hotels Directors

The Mumbai Bench of the National Company Law Tribunal (NCLT) on 9 June compounded the violation, imposing a total compounding fee of Rs. 40.90 lakh on Kolhapur Hotels Pvt Ltd and its two directors for breach of Section 96 of the Companies Act relating to Annual General Meeting (AGM) requirements. Judicial Member Ashish Kalia and Technical Member Charanjeet Singh Gulati also ruled that the benefit available to small companies under Section 446B of the Companies Act applies only to “penalties”...