Delhi High Court Quashes SFIO Probe Into Educomp Solutions

The Delhi High Court has recently quashed the Central Government's order directing a Serious Fraud Investigation Office (SFIO) probe into Educomp Solutions Limited, an education technology company, holding that the order did not explain why the company's affairs warranted such an investigation under the Companies Act, 2013. Justice Amit Mahajan allowed petitions filed by former Educomp independent director Vinod Kumar Dandona, directors and shareholders Jagdish Prakash and Shantanu Prakash,...

NCLT Mumbai Allows First Motion Transfer Of Essel Mining's Renewable Energy Business To Aditya Birla Renewables

The National Company Law Tribunal's Mumbai Bench has allowed the first motion application for a composite scheme under which Essel Mining and Industries Ltd will transfer its renewable energy undertaking to Aditya Birla Renewables Ltd through a slump sale involving the transfer of the business as a whole. The Tribunal has alo allowed four renewable energy subsidiaries will merge into Aditya Birla Renewables.A bench of Judicial Member Ashish Kalia and Technical Member Banwari Lal Meena...

NCLT Mumbai Approves Merger Of Broadcasting Company SARG Media With Republic Media Network Operator

The National Company Law Tribunal (NCLT) at Mumbai has sanctioned the merger of SARG Media Holding Private Limited with ARG Outlier Media Private Limited, which owns and operates the Republic Media Network, including Republic TV, Republic Bharat and Republic Bangla.A Bench of Judicial Member Vinay Goel and Technical Member Charanjeet Singh Gulati approved the scheme under Sections 230-232 of the Companies Act, 2013. The Tribunal directed that SARG Media Holding, the transferor company be...

Can NCLT Declare A Registered Sale Deed Void? Kerala High Court Explains

The Kerala High Court has recently held that the National Company Law Tribunal (NCLT) cannot declare a registered sale deed void and not binding on a company merely because a dispute involves allegations of oppression and mismanagement. “When the reliefs sought in the suits are considered alongside the scope of application under Sections 241 and 242 of the Companies Act 2013, it would be difficult to conclude that the National Company Law Tribunal has jurisdiction to declare a registered...

Shareholder Cannot Maintain Individual Appeal After Failing To Avail Representative Remedy: NCLAT

The National Company Law Appellate Tribunal (NCLAT) has recently held that a shareholder cannot independently challenge a final order in a representative company petition after failing to pursue an opportunity to raise grievances collectively.“The Appellant cannot now claim an independent and continuing right to intervene in the representative company petition and challenge the final order in its individual capacity,” the tribunal observed. It added that the appellant could not repeatedly pursue...

Kerala HC Sets Aside NCLT Order Refusing To Implead Alleged Share Transferees In Company Mismanagement Case

The Kerala High Court has set aside an order of the National Company Law Tribunal, Kochi Bench, refusing to implead two alleged share transferees in a company petition alleging mismanagement, holding that their presence was necessary for effective adjudication of the dispute over the original petitioners' shareholding.Justice Harisankar V Menon held that the alleged transferees were proper parties even though no specific relief had been sought against them, as their presence was necessary to...

NCLT Chennai Allows First Motion For POCL Enterprises-Planetfirst Green Amalgamation

The National Company Law Tribunal at Chennai has directed POCL Enterprises Limited to convene meetings of its equity shareholders and unsecured creditors to consider a proposed scheme of amalgamation with Planetfirst Green Private Limited. The shares of POCL are listed on the National Stock Exchange and Bombay Stock Exchange. A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam passed the order. Planetfirst Green is engaged in lead recycling and refining, while...

NCLT Cannot Order Share Buyout Without Finding Oppression, Mismanagement: NCLAT New Delhi

On 14 October, the National Company Law Appellate Tribunal (NCLAT), New Delhi held that the National Company Law Tribunal (NCLT) cannot order a share buyout under Section 242(2)(b) of the Companies Act, 2013, without first recording a finding of oppression and mismanagement under Section 241 and satisfying the conditions under Section 242(1). A Bench of Judicial Member Sharad Kumar Sharma with Technical Members Arun Baroka and Indevar Pandey set aside the NCLT Mumbai's order directing a buyout...

Section 21 Of Companies Act Does Not Bar Oral Agreements Between Companies: Rajasthan High Court

The Rajasthan High Court on 15 September held that Section 21 of the Companies Act, 2013, does not bar oral agreements between companies, clarifying that the provision governing authorised signatories does not require every agreement to be in writing. Justice Rekha Borana dismissed a civil revision petition filed by Gnex Impex Private Limited and its director against an order dated 22 May 2025, by which the District Judge, Jodhpur Metropolitan, rejected their application to dismiss a suit filed...

NCLT Mumbai Clears First Motion For HSBC InvestDirect Merger With 1% Share Capital Reduction

The Mumbai Bench of the National Company Law Tribunal (NCLT) on 13 October, allowed the first motion application filed by HSBC InvestDirect Sales & Marketing (India) Private Limited and HSBC InvestDirect (India) Private Limited for their proposed amalgamation and the reduction of the transferor company's share capital. A Bench comprising Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan passed the order under Sections 230 to 232 read with Section 66 of the Companies Act,...

NCLT Ahmedabad Rejects Mediation Plea In Lendingkart Dispute, Says Parties' Consent Is Essential

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 12 October dismissed an application by minority shareholders of Lendingkart Technologies Pvt. Ltd. seeking mediation in an ongoing oppression and mismanagement dispute involving majority shareholder Fullerton Financial Pvt. Ltd. A Bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held that a compulsory reference to mediation would serve no useful purpose when the respondents expressly opposed the...

NCLT Chennai Approves Notion Press Settlement, Orders ₹3.75 Crore Payout For Share Cancellation

The Chennai Bench of the National Company Law Tribunal (NCLT) on 9 October approved a Memorandum of Compromise between C. Janarthanan and Notion Press Media Pvt. Ltd., directing the company to cancel his 3,999 equity shares and pay him Rs. 3.75 crore as part of the settlement of an oppression and mismanagement petition. A Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam also directed the company to cancel the shares and reduce its paid-up capital...