Authority: National Company Law Tribunal, New Delhi Court-IV (Special Bench)
Order Date: 14 July 2026
Case Overview
The National Company Law Tribunal (NCLT) New Delhi heard multiple interconnected applications in the ongoing oppression and mismanagement case filed by Sanjeev Jain against Nexgen Fluoropolymers Pvt Ltd. and others under Sections 241-242 of the Companies Act, 2013. The matter involves allegations of oppression against the company's management. Several applications were listed before the special bench comprising Judicial Member Mahendra Khandelwal and Technical Member Yogendra Kumar Singh.
Proceedings and Decisions
The tribunal addressed two applications that were withdrawn during the hearing:
- IA/195/ND/2026: The applicant's counsel sought permission to withdraw this interim application with liberty to take appropriate legal steps. The tribunal granted permission and dismissed the application as withdrawn.
- CA/400/ND/2023: This was a joint application filed under Section 442 of the Companies Act, 2013, seeking reference to mediation from the expert panel of mediators. Counsel for all applicants submitted that mediation had not been fruitful and sought liberty to withdraw the application. The tribunal granted liberty and dismissed the application as withdrawn.
The remaining applications (IA/11/ND/2025, CA-417/2021, Cont. P 09/2021, IA/440/ND/2025, CA-450/2022, CA/45/ND/2026, and CA/91/ND/2026) were adjourned and listed for hearing on 08 September 2026 before the regular bench.
Final Outcome
The core oppression and mismanagement petition under Sections 241-242 of the Companies Act, 2013 continues pending before the tribunal. The matter has been adjourned with the remaining applications scheduled for hearing on 08 September 2026. The withdrawal of the mediation application indicates that settlement attempts were unsuccessful, and the legal proceedings will continue.
Topics: NCLT Proceedings, Corporate Oppression, Company Law