Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: June 17, 2026
Case Overview
Tropical Realty Chennai Pvt Ltd filed an application (CA(CAA)/55(CHE)/2026) under Sections 230-232 of the Companies Act, 2013, which govern schemes of arrangement, compromise, amalgamation, and reconstruction. This is a first motion application where the company seeks the tribunal's orders regarding the holding or dispensing of meetings of shareholders and/or creditors that are typically required to approve such schemes. The matter came up for hearing before the bench comprising Judicial Member Shri Sanjiv Jain and Technical Member Shri Venkataraman Subramaniam. Counsel Abishek Raman represented the applicant company.
Final Outcome
The NCLT bench did not pass any substantive orders on the application but listed the matter for further hearing on July 1, 2026. The proceedings will continue on that date.
Topics: NCLT Proceedings, Corporate Restructuring, Scheme of Arrangement