Authority: National Company Law Tribunal Division Bench-I, Chennai
Order Date: 29 June 2026
Case Overview
The matter involves a petition (CP(CA)/73/CHE/2025) filed by Kala & 3 Others against Devi Prawns Products Pvt. Ltd. & 3 Others. The petitioners sought condonation of delay of 330 days in filing the company petition for transmission of shares within the statutory time limit required by the Companies Act, 2013. During the hearing, the respondent's counsel submitted that the company is family-owned and that there are ongoing issues among family members that need resolution, with various litigations pending.
Final Outcome
The NCLT bench comprising Member (Judicial) Sanjiv Jain and Member (Technical) Venkataraman Subramaniam condoned the 330-day delay in filing the petition. The tribunal granted the respondent two months to resolve the family issues and directed them to submit an action taken report, including updates on the transmission of shares. The matter has been listed for next hearing on 04 September 2026.
Topics: Share Transmission, NCLT Proceeding, Family Dispute