Company Law : The article explains that eligible Government companies require Central Government approval under Sections 230–232. NCLT approva...
Company Law : The Tribunal held that its wide powers under Sections 241-242 and Rule 11 cannot override the mandatory conditions prescribed unde...
Fema / RBI : RBI amended the Cross Border Merger Regulations to replace NCLT-specific references with the broader term "Competent Authority." T...
Company Law : The MCA introduced a risk-based eligibility framework allowing more companies to access fast-track mergers. By replacing size crit...
Company Law : The case examined whether extending redemption timelines amounts to reissuance. The Tribunal held that extensions within statutory...
Corporate Law : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
Company Law : ICSI raised concerns over delays in NCLT hearings affecting corporate restructuring and insolvency matters. It emphasized the need...
Company Law : ICSI has urged the government to set up an NCLT Bench in Pune citing 30,600 pending cases and prolonged insolvency timelines. The ...
Company Law : With insolvency cases taking up to 853 days against the 330-day mandate, concerns over NCLT backlog have intensified. A new bench ...
Corporate Law : From 2022-23 to 2024-25, appeals filed at NCLAT rose steadily, with IBC cases forming the majority, reflecting active engagement i...
Company Law : NCLT retained the freeze on assets citing serious SFIO findings but ordered defreezing of the salary account and family members' a...
Corporate Law : NCLT admitted the Section 9 petition after holding that campaign-related emails did not constitute a genuine pre-existing dispute....
Corporate Law : NCLT Amaravati held that the corporate debtor's OTS proposals constituted acknowledgments of debt, giving rise to a fresh limitati...
Corporate Law : NCLT held that courts cannot interfere with CoC's commercial decisions where the resolution plan satisfies statutory requirements....
Corporate Law : NCLT held TReDS reverse factoring dues remained operational debt, not financial debt, making a Section 7 IBC insolvency petition n...
Corporate Law : The order permits single judicial members to handle procedural and uncontested matters. It ensures faster case disposal while pres...
Corporate Law : Details of Judicial and Technical Members assigned to NCLT benches across India as per the latest order issued by the Ministry of ...
Corporate Law : Read about the case involving Chetan Patel, an Insolvency Professional, with detailed analysis of alleged contraventions and submi...
Corporate Law : IBBI Disciplinary Committee suspends Sanjay Singh, an Insolvency Professional, for irregularities in the e-auction process. Detail...
Company Law : Explore the order dated 03.02.2024 from NCLT Chandigarh transferring all pending cases from Bench 2 to Bench 1. Detailed analysis ...
The NCLT refused to dispense with the transferee company’s equity shareholders’ meeting because no certified list of shareholders was produced. It directed the company to convene the meeting while issuing further directions for creditor meetings under the proposed amalgamation.
NCLT Ahmedabad held that the transferee failed to establish any lawful title to 21,000 equity shares, making the transfer unsustainable. The Tribunal directed restoration of the original shareholders’ names and rectification of the company’s Register of Members.
The NCLT Delhi held that salary dues relating to the period covered by Section 10A of the IBC could not be considered while computing the default amount. After excluding those dues and the interest claim, the alleged default fell below the statutory threshold, leading to dismissal of the insolvency application.
The NCLT Delhi dispensed with meetings of secured and unsecured creditors after finding that the proposed demerger involved no compromise with creditors and did not adversely affect their rights. Only the resulting company’s equity shareholders were directed to convene a meeting.
The NCLT allowed the first motion application for a demerger scheme and dispensed with meetings of the Resulting Company’s equity shareholders and unsecured creditors because all had provided consent affidavits. It directed meetings only for the Demerged Company’s stakeholders and laid down the procedure for further approval.
The Tribunal found the amalgamation application maintainable and noted compliance with valuation, accounting standards, board approvals, and disclosure requirements. It allowed the first motion application while directing further statutory compliances before sanction of the Scheme.
The NCLT initiated bankruptcy proceedings after finding that the personal guarantor failed to submit a repayment plan during the insolvency resolution process. It held that the statutory requirements under the Insolvency and Bankruptcy Code had been substantially complied with.
The NCLT held that the mere existence of an arbitration clause in a Shareholders’ Agreement does not automatically require disputes to be referred to arbitration. The Tribunal refused reference where the dispute involved statutory remedies under the Companies Act.
The NCLT refused to dispense with the transferee company’s shareholders’ meeting, holding that shareholders should evaluate the implications of the recent acquisition and proposed amalgamation despite the subsidiary being wholly owned.
The NCLT approved the takeover of minority shareholding after finding that all procedural and statutory requirements under the Companies Act had been complied with. The Tribunal held that the Scheme was fair, reasonable, and legally compliant.
