Justice Anupinder Singh Grewal Appointed President of the National Company Law Tribunal (NCLT)
By order dated 29.04.2026, the Appointments Committee of the Cabinet has approved the appointment of Justice (Retd.) Anupinder Singh Grewal, former Judge of the High Court of Punjab and Haryana, as President of the National Company Law Tribunal for a term of five years from the date of assumption of charge, or until he attains the age of 67 years, whichever is earlier.
NCLT Chandigarh Approves Utilisation of Securities Premium to Set Off Accumulated Losses of Rs. 99.59 Crores
The NCLT Chandigarh Bench confirmed the reduction of share capital of a foreign-owned private company under Section 66 of the Companies Act, 2013, permitting it to utilise Rs. 99.59 crores from its securities premium account to set off accumulated losses.
Counter-Offer Constitutes Rejection of Pre-Emption Offer and Doctrine of Ratification Cures Procedural Irregularities in Board Resolutions: NCLT Chandigarh
The NCLT Chandigarh dismissed an oppression and mismanagement petition, holding that a counter-offer to a pre-emption offer constitutes its rejection and no concluded contract arises. The Tribunal further applied the Doctrine of Ratification to cure procedural irregularities in board resolutions concerning a debt-restructuring loan, and held that a shareholder who benefited from the transaction is estopped from challenging it.
NCLT Chandigarh Sanctions Amalgamation of Redbus India with MakeMyTrip (India) with Capital Reduction and Prospective Appointed Date
The NCLT Chandigarh sanctioned the scheme of amalgamation of Redbus India Pvt Ltd with MakeMyTrip (India) Pvt Ltd under Sections 230 to 232 read with Section 66 of the Companies Act, 2013, involving capital reduction and a share exchange ratio of 3,333 shares of the Transferee Company for every 1,00,000 shares of the Transferor Company.
NCLT Chandigarh Allows First Motion for Demerger of FreeCharge Payment Technologies Under Sections 230 to 232 of the Companies Act with RBI Conditions
The NCLT Chandigarh allowed the first motion petition for demerger of FreeCharge Payment Technologies Pvt Ltd (an Axis Bank subsidiary) into FreeCharge Business and Technology Services Ltd, dispensing with meetings of shareholders and creditors and imposing RBI-mandated conditions.
NCLT Chandigarh Approves Cross-Border Merger of Mauritius Companies with Indian Company Under Section 234 of the Companies Act Read with FEMA Regulations
The NCLT Chandigarh approved a cross-border amalgamation scheme between Mauritian companies FIM Holdco I Limited and Ariston Investments Sub A Limited with Indian company One World Center Private Limited. The judgment demonstrates how procedural defects in merger applications can be cured through subsequent motions and the regulatory approvals required for inbound cross-border mergers under Section 234 of the Companies Act.
Contempt Appeal Allowed, Appellant Discharged: Punjab and Haryana High Court Holds Contempt Bench Must Await Outcome of Pending Appeal Against Underlying CLB/NCLT Order
The Punjab and Haryana High Court allowed a contempt appeal and discharged the appellant, holding that contempt proceedings should not be initiated when an appeal against the underlying order is pending. The Court emphasized that the outcome of the appeal may render the contempt proceedings redundant or require fresh consideration.
Tribunal Should Not Interfere with Commercial Wisdom of Shareholders in Approving Amalgamation Scheme Under Sections 230 to 232: NCLAT Sanctions Indiabulls Real Estate Merger
The National Company Law Appellate Tribunal upheld an amalgamation scheme between Indiabulls Real Estate Limited and two transferor companies, reversing the NCLT's rejection. The Appellate Tribunal held that it should not interfere with the commercial wisdom of shareholders and creditors who approved the scheme by nearly 100%, provided proper valuation methodologies and regulatory compliance are established.