Case Details

Case Name: Union of India Ministry of Corporate Affairs through SFIO vs Mary Matha Popular Nidhi Limited

Court/Authority: National Company Law Tribunal (NCLT), Kochi Bench

Case Number: CP(C/ACT)/19/KOB/2026

Date of Order: 25 May 2026

Presiding Officer: Shri Vinay Goel, Hon'ble Member (Judicial)

Next Hearing Date: 05 June 2026

Parties Involved

Petitioner: Union of India Ministry of Corporate Affairs through Serious Fraud Investigation Office (SFIO)

Petitioner's Advocate: Mr. Renjith R

Respondent: Mary Matha Popular Nidhi Limited (CIN No. U65990KL2019PLN060148)

Respondent's Advocate: Not represented in this hearing

Issues / Allegations / Violations

The Petition has been filed under Sections 271(1)(c), (d), (e) and 272(1)(e) of the Companies Act, 2013 seeking winding up of the Respondent Company based on the following allegations:

  • The Respondent Company was incorporated for unlawful purposes
  • The company's affairs have been conducted in a fraudulent manner
  • The company's operations have been prejudicial to public interest
  • The company has failed to file its financial statements and annual returns for five consecutive financial years
  • The investigation report dated 27.02.2025 necessitated the filing of the present Petition

Findings & Observations

The Tribunal made the following prima facie observations:

  • A prima facie case is made out in favor of the Petitioner
  • Principles of natural justice warrant issuance of notice to the Respondent before recording conclusive findings
  • Limited interim protection for asset preservation would not prejudice the rights of the Respondent
  • Appointment of a Provisional Liquidator should not be granted at this stage without hearing the Respondent

Interim Directions

The Tribunal granted the following interim reliefs:

  • The Respondent Company is restrained from creating any third-party interest
  • The Company is prohibited from transferring, alienating, encumbering, or mortgaging any movable and immovable assets without prior permission of the Tribunal
  • The prayer for appointment of a Provisional Liquidator was denied at this stage

Procedural Directions

  • Petitioner directed to serve copy of Order and Petition notice to Respondent through registered post and all available modes within 24 hours
  • Petitioner must file an affidavit of service after completion
  • Default in service would attract costs of Rs. 5,000/- payable to National Defence Fund
  • Registry directed to issue notice to Respondent forthwith

Supporting Documents

The Petitioner annexed the following documents with the Petition:

  • Order No. F.No.35/13/2025-Legal dated 24.09.2025
  • Letter of Authority dated 29.04.2026
  • Investigation Report dated 27.02.2025
  • Certificate of Incorporation of the Company
  • Copy of the Articles of Association of the Respondent Company

Next Steps

The case has been adjourned to 05 June 2026 for further hearing, allowing the Respondent opportunity to present their version before the Tribunal.