Authority: National Company Law Tribunal, Division Bench (Court–I), Chennai
Order Date: 17 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard matters related to Company Application CA(CAA)/7(CHE)/2026 in the main petition CP(CAA)/27(CHE)/2026 filed by BCUBE Ventures Pvt Ltd under Sections 230-232 of the Companies Act, 2013, which pertain to schemes of arrangement and compromise.
The hearing involved multiple parties: counsel for the petitioner (BCUBE Ventures), counsel for the Resolution Professional (RD), counsel for the Income Tax Department, and the Assistant Official Liquidator. The Income Tax Department filed a memo of objection specifically concerning the transferee company in the arrangement scheme, while noting that their response regarding the transferor company was still awaited. The Official Liquidator had already filed their report on the matter. The petitioner company had submitted responses to the reports filed by the Official Liquidator, the Interim Report of the Resolution Professional, and the objections raised by the Income Tax Department.
Final Outcome
The NCLT bench granted the Resolution Professional two weeks to file their final report. The Income Tax Department was also granted two weeks to file their response regarding the transferor company. The petition has been adjourned and listed for next hearing on 15 July 2026.
Topics: Corporate Restructuring, NCLT Proceedings