Authority: National Company Law Tribunal, Amaravati Bench
Order Date: 09 July 2026
Case Overview
This matter involves a petition filed under Section 241 of the Companies Act, 2013 by Ganga Raju & 3 others against Nizam Deccan Sugars Limited & another. The petition pertains to alleged oppression and mismanagement in the affairs of the company. During the proceedings, it was revealed that the State Government has intervened in the matter and has already disbursed Rs. 170 crore to settle the dues of the company's financial creditors. The sole remaining issue concerns the settlement with equity shareholders, which has been submitted for consideration and approval to the Cabinet Committee.
Final Outcome
The Tribunal granted the petitioners' request for two weeks' time to report the withdrawal of the petition, anticipating that the Cabinet Committee's decision on the equity shareholder settlement would resolve the matter. The case has been adjourned and listed for next hearing on 06 August 2026.
Topics: NCLT Proceedings, Shareholder Settlement, Government Intervention