Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 09-06-2026
Case Overview
The matter concerns a petition filed under Sections 230 to 232 of the Companies Act, 2013 involving a demerger/arrangement scheme between three companies: M/s. Bhagya Nagar Copper Pvt Ltd. (Transferor Company), M/s. Bhagyanagar India Ltd. (Transferee/De-merged Company), and M/s. Tieramaet Limited (Resulting Company). The hearing was held in hybrid mode (VC and physical) on June 9, 2026. Representatives from the Income Tax Department, Regional Director's office, and the Official Liquidator's office were present, indicating the requirement for regulatory clearances and reports on the proposed scheme.
Final Outcome
The NCLT Bench comprising Member (Judicial) Sh. Rajeev Bhardwaj and Member (Technical) Sh. Sanjay Puri adjourned the matter to June 25, 2026 specifically for the filing of reports by the Regional Director, Official Liquidator, and Income Tax Department. No substantive decision on the scheme was made during this hearing.
Topics: Corporate Restructuring, NCLT Proceedings