Authority: National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj
Order Date: 16th July, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench, comprising Hon'ble Member (Judicial) Sh. Praveen Gupta and Hon'ble Member (Technical) Sh. Ashish Verma, heard CA (CAA) No.14/ALD/2026, a first motion application filed under Sections 230/232 of the Companies Act, 2013. The application seeks sanctioning of a scheme of demerger involving NAPH LIMITED as the demerging company and GRAPHICS WITH CONVERTING PRIVATE LIMITED as the resulting company. Sh. Kartikeya Goel, Advocate, appeared virtually/physical hearing representing the Applicant Companies.
The tribunal noted that consents have been obtained from shareholders of the demerging company and from holders of optionally non-convertible preference shares (four shareholders). However, the affidavit submitted did not mention the value of these consents. The counsel for the applicant companies stated that individual notices would be served upon these four non-convertible preference shareholders, with any responses to be filed at the stage of the second motion petition, if the first motion application is allowed.
The counsel also proposed to seek dispensation from holding meetings of: (1) shareholders of the demerging company, (2) non-convertible preference shareholders, and (3) meetings of secured and unsecured creditors of the demerging company, as well as unsecured creditors of the resulting company.
Final Outcome
The matter was heard and order was reserved by the bench. The tribunal will issue its decision on whether to allow the first motion application at a later date, which would enable the process to proceed to the second motion stage involving creditor and shareholder meetings.
Topics: Corporate Restructuring, Legal Proceedings