Punjab and Haryana High Court Stays Assistant Registrar's Order Halting a Cooperative Society Election After the Result Was Declared: Section 28(2), Haryana Cooperative Societies Act, 1984
The Punjab and Haryana High Court stayed an order of the Assistant Registrar, Cooperative Societies, Rewari, which had stayed a society's election pending an enquiry after the election had been held and its result declared. The petitioners contend that the Haryana Cooperative Societies Act, 1984 gives the Assistant Registrar no such power, and that a dispute can be raised only through an election petition.
Removal from Register of Members Is a Completed Act, Not a Continuing Wrong: NCLT Chandigarh Dismisses Oppression Petition Under Sections 241 and 242 as Barred by Limitation
NCLT Chandigarh dismissed a petition under Sections 241 and 242 of the Companies Act, 2013 as barred by the three-year period under Article 113 of the Limitation Act, 1963, holding that the removal of a shareholder's name from the register of members is a completed act, and that its continuing consequences do not make it a continuing wrong.
Securities Premium Account Utilised to Write Off Accumulated Losses: NCLT Chandigarh Confirms Reduction of Share Capital Under Sections 66 and 52 of the Companies Act
NCLT Chandigarh confirmed a reduction of share capital under which a solvent company set off accumulated losses of Rs. 42.59 crore against its securities premium account, holding that a pure accounting adjustment involving no payout, no cancellation of shares and no reduction in any creditor's dues causes no prejudice to creditors.
SEZ Approval Need Not Hold Up a Demerger: NCLT Chandigarh
NCLT Chandigarh sanctioned the demerger of an SEZ developer's Phase-II business undertaking without first requiring SEZ approval, accepting that the approval under Instruction No. 109 may be obtained after sanction, with the Scheme taking effect on the later of the ROC filing and receipt of that approval.
Deemed RBI Approval Under Regulation 9 of the FEMA Cross Border Merger Regulations Satisfies Rule 25A: NCLT Chandigarh Directs Meetings in Inbound Merger of Mauritius Holding Company
In the first motion of an inbound cross-border merger of a Mauritius holding company into its Indian subsidiary, NCLT Chandigarh held that a certificate of compliance under Regulation 9 of the FEMA (Cross Border Merger) Regulations, 2018 satisfies the requirement of prior RBI approval under Rule 25A, and directed separate meetings of related and non-related unsecured creditors.
Removal of Cooperative Society's Managing Committee by Assistant Registrar Stayed as Prima Facie Contrary to the 97th Constitutional Amendment: Punjab and Haryana High Court
The Punjab and Haryana High Court stayed two orders of the Assistant Registrar, Cooperative Societies, Rewari, one found prima facie to be without jurisdiction and the other removing the Managing Committee of a cooperative society, and directed that the Managing Committee be restored to govern the society pending the writ petition.
Insolvency and Bankruptcy Code (Amendment) Act, 2026: Key Highlights Including Creditor-Initiated Resolution Process, Group Insolvency, Cross-Border Framework, and Strict Timelines
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (Act No. 6 of 2026), notified on 06.04.2026, introduces a creditor-initiated resolution process for smaller corporate debtors, a group insolvency framework, cross-border insolvency rulemaking power, mandatory 14-day admission timelines, CoC supervision of liquidation, and civil penalties replacing criminal offences, among other significant changes.
Suit for Permanent Injunction Simpliciter Not Maintainable Where Title and Possession are in Dispute
The Punjab and Haryana High Court allowed a second appeal and dismissed a suit for permanent injunction simpliciter, holding it barred under Section 41(h) of the Specific Relief Act where both title and possession were in dispute.