Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: July 7, 2026
Case Overview
The hearing concerned Company Application (CAA) No. 14(CHE)2026 and Company Petition (CAA) No. 42(CHE)2026 filed by Veranda XL Learning Solutions Pvt Ltd under Sections 230-232 of the Companies Act, 2013, which deal with compromises, arrangements, and amalgamations. The petitioner was represented by Senior Counsel Shri P.H. Arvindh Pandian along with Counsel Shri Pawan Jhabakh. Other parties present included the Assistant Official Liquidator, Counsel Shri Raj Jhabakh representing the Income Tax Department, and Counsel Shri Sriram representing the Regional Director (RD).
Final Outcome
The Tribunal noted that reports had been e-filed by both the Official Liquidator (OL) and the Regional Director (RD), and directed the registry to accept hard copies of these reports. Counsel for the Income Tax Department sought and was granted ten days' time (until approximately July 17, 2026) to file its report. The petitioner company was directed to file its responses to all reports (OL, RD, and Income Tax) within one week. The petition was adjourned and listed for its next hearing on July 29, 2026.
Topics: NCLT Proceeding, Corporate Restructuring, Scheme of Arrangement