Tag: Class Action
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Unlocking Section 245: A New Chapter in Shareholder Class Actions
[Parth Birla and Runit Rathore are 5th year and 4th year BA.LL.B. students, respectively, at Hidayatullah National Law University, Raipur] Recently, the National Company Law Appellate Tribunal (“NCLAT”) in a much-anticipated appeal by the Jindal Poly Films Ltd (“JPF”) upheld the National Company Law Tribunal’s (“NCLT”) verdict admitting the class action suit by shareholders under section 245 of the Companies Act, 2013 (“the Act”). It marks a significant development…
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Case-Study Evidence of Shareholder Activism
[Posted by Umakanth Varottil] We have previously highlighted the rise of shareholder activism in India (here and here). Activism has been aided by regulatory reforms that have enlarged shareholder participation. In addition, market changes have resulted in previously passive institutional investors becoming more active in recent times. They have further been supported by the emergence…
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Derivative Action for Patent Infringement Disallowed
[Posted by Umakanth Varottil] Spicy IP has a post discussing a judgment of the Bombay High Court in Darius Rutton Kavasmaneck v. Gharda Chemicals Limited, which involves a derivative claim by a shareholder of a company that traverses issues of company law and patent law. In disallowing the claim, the Bombay High Court dealt with…
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OECD on Public Enforcement of Corporate Governance in Asia
[Posted by Umakanth Varottil] Normal 0 false false false EN-SG JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:”Times New Roman”; mso-ansi-language:EN-SG;} The principles and norms of corporate governance tend to operate through layers. On the one hand, there is the…
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Class Actions in the Companies Act, 2013: a Recipe for Confusion?
[Posted by Mihir Naniwadekar] Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:”Calibri”,”sans-serif”; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:”Times New Roman”; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The Companies Act, 2013 introduces some important changes to…
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Companies Bill, 2011: Class Actions
[Posted by Umakanth Varottil] /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:”Calibri”,”sans-serif”; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:”Times New Roman”; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:”Times New Roman”; mso-bidi-theme-font:minor-bidi;} Background In developed markets, one of the key mechanisms used for enforcement of corporate law is shareholder…
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The United States Supreme Court on the ‘Principal Place of Business’
[Posted by Shantanu Naravane] Two earlier posts had discussed the issue and the oral arguments before the United States Supreme Court in Hertz Corp. v. Friend. Earlier this year, the Court delivered a unanimous verdict, holding that the ‘principal place of business’ of a corporation is its ‘nerve centre’, i.e. the headquarters of the corporation.…
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‘Principal place of business’ – Oral Arguments in Hertz v. Friend
[Posted by Shantanu Naravane] An earlier post had discussed the issue in Hertz v. Friend, which calls upon the United States Supreme Court to determine what is the ‘principal place of business’ of a corporation having operations in more than one State. The Court heard the matter on 10th November, and the transcript is available…
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United States Supreme Court considers a corporation’s ‘principal place of business’
[Posted by Shantanu Naravane] An important question, with significant implications for contemporary corporate law theory will be heard by the United States Supreme Court on November 10. The matter in question is Hertz Corp. V. Friend (08-1107), which poses the question of which State can be considered to be a corporation’s ‘principal place of business’.…