Authority: National Company Law Tribunal, New Delhi Court - IV
Order Date: June 9, 2026
Case Overview
The matter involves a petition filed under Sections 230-232 of the Companies Act, 2013 concerning a scheme of arrangement between Newzstreet Broadcast Services Private Limited (Applicant) and Shekhawati Residency Private Limited. The hearing was conducted in hybrid mode (physical and video conference) before a bench comprising Shri Mahendra Khandelwal (Member Judicial) and Shri Atul Chaturvedi (Member Technical).
Representation was present for both parties: Ms. Aakanksha Nehra and Mr. Shubham Jaiswal appeared as advocates for the applicant company, while Mr. Ruchir Bhatia (Standing Senior Counsel) and Mr. Pratyaksh Gupta represented the Income Tax Department.
The applicant's counsel submitted that they had complied with the tribunal's previous order dated May 12, 2026, by filing the requisite affidavit, which was available on the tribunal's e-portal. The Income Tax Department's counsel requested additional time to review this affidavit and take instructions on its contents.
Final Outcome
The tribunal granted the requested time to the Income Tax Department and adjourned the matter. The next hearing is scheduled for July 21, 2026. No substantive decisions on the scheme itself were made in this order, which primarily addressed procedural matters.
Topics: NCLT Proceedings, Corporate Restructuring, Scheme of Arrangement