Tag: Corporate Litigation
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Conversion of Tata Sons into a Private Limited Company: In Whose Interest?
[Posted by Umakanth Varottil] The proposed conversion of Tata Sons Limited from a public limited company to a private limited company has reignited the corporate governance issues that the Tata Group has faced over the last year or so. Menaka Doshi has an interesting piece (and an accompanying interview with two corporate lawyers) in BloombergQuint…
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Bombay High Court on the Permissibility of Shareholder Representative Suits
[Posted by Umakanth Varottil] Bar & Bench yesterday reported that the Bombay High Court denied leave to certain shareholders of various Tata group companies to bring a representative suit that made certain legal claims in the aftermath of the ouster of Mr. Cyrus Mistry from the board of Tata Sons as well as other Tata…
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Incorrect Prefixes to Company Names
[Posted by Umakanth Varottil] A longstanding misconception is finally sought to be rectified by the Bombay High Court in a Circular issued on 3 April 2017 (via LiveLaw), the extracts of which are as follows: IT IS OBSERVED by the Hon’ble Shri Justice G. S. Patel while hearing Chamber Summons No. 89 of 2017 in…
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Shareholding Thresholds for Oppression and Class Actions
[Posted by Umakanth Varottil] Normal 0 false false false EN-US 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”;} The Tata-Mistry episode has brought into focus the minimum shareholding threshold required for a minority shareholder to bring an action…
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Companies Mediation and Conciliation Rules: An Update
[Posted by Umakanth Varottil] [The following post is contributed by Bhushan Shah and Neha Lakshman from Mansukhlal Hiralal & Company. The views expressed are personal] Section 442 of the Companies Act, 2013 (‘Act’) empowers the Central Government to constitute a panel of experts to mediate and settle disputes pending before the National Company Law Tribunal…
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NCLT: Revolutionizing the Realm of Corporate Litigation
[Posted by Umakanth Varottil] [The following post is contributed by Shruti Khetan, who is a student at the West Bengal National University of Juridical Sciences] After a decade-long wait, the National Company Law Tribunal (‘NCLT’) and its appellate body, the National Company Law Appellate Tribunal (‘NCLAT’) have finally been constituted under sections 408 and 410…