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High Court of Judicature at Bombay Examines Company Law Board's Power to Direct Issue of Shares Under Section 111 of Companies Act, 1956. The appeal raises the question whether the Board can order issuance of share certificates and rectification of register absent valid transfer documents.

This company appeal arose from an order of the Company Law Board (CLB) dated 14 January 2013 in Company Petition No. 23 of 2012. The CLB had directed ...

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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Bombay High Court Sanctions Amalgamation Scheme Under Sections 391-394 of Companies Act, 1956 — No Objections Raised by Regional Director or Official Liquidator. Court Held Scheme Fair and Reasonable and Not Contrary to Public Interest.

The Bombay High Court, exercising its ordinary original civil jurisdiction, considered two company petitions filed under sections 391 to 394 of the Co...

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High Court of Karnataka Allows Winding Up Petition Against Airline Company for Inability to Pay Debts Under Companies Act, 1956. The court held that the company was commercially insolvent and unable to pay its debts, and appointed the Official Liquidator to take charge of its assets.

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a company petition under Sections 433(e) and (f) r...

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High Court of Karnataka Considers Application Under Section 434 Companies Act Seeking Transfer of Winding-Up Petition to NCLT. Applicant Argues No Irreversible Steps Taken, Citing Supreme Court Precedent.

The matter arose from a Company Petition filed in 2010 seeking winding up of Broadcast Infratel India Private Limited on grounds of unpaid admitted de...