Supreme Court
Supreme Court To Hear On Friday Plea Seeking Recall Of Order Referring Jindal Poly Films Dispute To Arbitration
The Supreme Court on Wednesday agreed to hear on Friday a plea filed by a group of 29 minority shareholders seeking recall of its order referring the Jindal Poly Films Ltd. class action dispute to arbitration. The shareholders contend that India's first corporate class action under Section 245 of the Companies Act could not have been referred to arbitration without hearing the other shareholders represented in the proceedings. A bench of Chief Justice Surya Kant, Justice Joymalya Bagchi and...
NSEL Moves Supreme Court Against HC Order Refusing Joint Trial In CBI Cases Over Alleged Payment Crisis
National Spot Exchange Ltd (NSEL) has moved the Supreme Court challenging the Bombay High Court's March 27, 2026 judgment refusing to direct a joint trial in two CBI cases arising out of the alleged NSEL payment crisis.NSEL argues that the cases stem from the same alleged fraudulent paired contracts. It says they involve the common accused, witnesses, and documents. The special leave petition, filed on June 19, 2026, is yet to be listed. The dispute concerns two CBI Special Cases pending...
Supreme Court Refers Jindal Poly Films Minority Shareholder's Class Action Dispute To Arbitration
The Supreme Court on Monday referred to arbitration a class action dispute brought by minority shareholders of Jindal Poly Films Ltd. over alleged undervalued related-party transactions.In doing so, it set aside NCLT and NCLAT rulings that had permitted the shareholders' Section 245 class action petition to proceed. A bench of Justices Prashant Kumar Mishra and Atul S. Chandurkar passed the order in an appeal filed by Jindal Poly Films against an NCLAT judgment dated February 26, 2026. The...
Validity Of Vote Cast On Behalf Of Society At Company's AGM Cannot Be Decided By Who Voted First: Supreme Court
The Supreme Court has recently held that the validity of a vote cast on behalf of a society at a company's annual general meeting cannot be determined merely by who voted first. The Court ruled that voting authority must flow from the society's governing documents and the statutory framework regulating electronic voting. A bench of Justices Vikram Nath and Sandeep Mehta allowed appeals filed by Hindustan Medical Institution, Eastern India Educational Institution and Belle Vue Clinic, all...
Supreme Court Sets Aside HC Ruling In Birla Corp AGM Vote Dispute; Says Majority Trustees Can Authorise Voting
The Supreme Court on Tuesday set aside a Calcutta High Court ruling that had held that once an e-vote is cast in the Annual General Meeting (AGM) of Birla Corporation Ltd., it could not subsequently be invalidated through later communications. The High Court had also held that the first vote cast on behalf of the societies must prevail. A Bench of Justices Vikram Nath and Sandeep Mehta held that the Division Bench erred in concluding that trustees could bind the societies only if all trustees...
Supreme Court Issues Notice In Plea Challenging HC Order Barring Registered Office Shift Pending NCLAT Appeals
On Friday, 22 May, the Supreme Court issued notice on a plea filed by Hindusthan National Glass & Industries Ltd, a corporate debtor, challenging the Calcutta High Court judgment dated 15 May 2026. The judgement had held that the company could not shift its registered office from Kolkata to Mumbai while appeals against its insolvency resolution plan remained pending before the NCLAT.A Division Bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe, while issuing notice, declined to...
Bombay High Court Pulls Up Petitioner Over Plea To Stay Sir Ratan Tata Trust Board Meeting, Petition Withdrawn
The Bombay High Court on Wednesday disposed of as withdrawn a petition seeking a stay on the May 16 board meeting of the Sir Ratan Tata Trust (SRTT) after expressing serious displeasure over the manner in which the proceedings were instituted.A vacation bench of Justices Advait Sethna and Sandesh Patil expressed shock after noting that petitioner Suresh Patilkhede had sought a stay on the SRTT board meeting based on representations pending before the Charity Commissioner even though those...
Supreme Court Affirms Investor's Right To Maintain Oppression Plea Despite No Entry In Register Of Members
The Supreme Court has recently held that an investor can, in certain cases, maintain oppression and mismanagement proceedings under the Companies Act, 1956 even if his name was never entered in the company's register of members, particularly where the company had consistently recognised and treated him as a stakeholder. “A conjoint reading of Sections 397, 398 and 399 indicates that the expression “member” cannot be construed in isolation or confined to the technical formulation contained in...
Supreme Court Stays ₹5 Lakh Cost Imposed To Set Aside NBWs In Adarsh Housing SFIO Case
The Supreme Court recently (April 27) issued notice on a petition filed by Meenakshi Modi, an accused in an SFIO case linked to the Adarsh Build Estate housing fraud, to examine the validity of a Rs 5 lakh cost imposed by the Punjab and Haryana High Court while setting aside non-bailable warrants against her. The court stayed the condition till next hearing in August. A bench of Justices Sanjay Kumar and K. Vinod Chandran limited the notice to this aspect and directed Modi to appear...
Supreme Court Issues Notice In Ideal Jawa Liquidator's Plea Against Classic Legends Over Yezdi Trademark
The Supreme Court on Friday issued notice in a plea by the liquidator of Ideal Jawa (India) Ltd. challenging a Karnataka High Court ruling that allowed Classic Legends Pvt. Ltd. and its founder Boman R. Irani to use the 'Yezdi' trademark after holding that the company no longer retained rights over it.The high court had found that the trademark had lapsed and that goodwill could not survive once the underlying business had ceased operations.A bench of Chief Justice Surya Kant and Justices...
'Company Cannot Fund Director's Bail Under Companies Act': Supreme Court Cancels BIIPL Director's Bail
The Supreme Court on Thursday held that a company cannot grant a loan to its director without special resolution of shareholders and where it is not for its business purposes and cancelled the bail of Satinder Singh Bhasin after finding that the Rs. 50 crore deposit was arranged using company funds in violation of the Companies Act. Bhasin, director of Bhasin Infotech and Infrastructure Pvt Ltd (BIIPL), had been granted bail on November 6, 2019 in connection with multiple FIRs arising out of...
Supreme Court Grants Pre-Arrest Bail To SRS Finance Director Ankit Sachdeva In Fraud Case, Issues Notice To SFIO
The Supreme Court on Thursday issued notice and made an order for pre-arrest bail to Ankit Sachdeva, a director of SRS Finance Ltd., whose anticipatory bail plea had earlier been dismissed by the Punjab & Haryana High Court by order dated March 4, 2024, which found prima facie involvement in a large-scale financial fraud.Sachdeva's petition before the top court challenges the High Court's refusal to grant anticipatory bail. A Bench of Justices Vikram Nath and Sandeep Mehta while...