Tata Consultancy Services Ltd. Vs. Cyrus Investments Pvt. Ltd. and Ors-26/03/2021

In an appeal under Section 423 of the Companies Act, 2013, this Court is concerned with questions of law arising out of the order of NCLAT. Therefore, we will not decide this prayer. It should be pointed out at this stage that Article 75 of the Articles of Association is nothing but a provision for an exit option (though one may think of it as an expulsion option). After attacking Article 75 before NCLT, the S.P. Group cannot ask this Court to go into the question of fixation of fair value compensation for exercising an exit option.

Hari Sankaran Vs. Union of India & Others – 04/06/19

Section 130(1) & (2) read with sections 211/212 and Sections 241/242 of the Companies Act, 2013- Report of the RBI Report can be taken note of, while upholding the order passed by the learned Tribunal under Section 130 of the Companies Act. As a larger public interest has been involved and reopening of the books of accounts and recasting of financial statements of the aforesaid companies is required to be carried out in the larger public interest, to find out the real truth, and the conditions precedent while invoking power under Section 130 of the Companies Act are satisfied/complied with, therefore order passed by the learned Tribunal passed under Section 130 of the Companies Act, confirmed by the learned Appellate Tribunal, is not required to be interfered with.

A shareholder who buys shares in a Company does not buy any interest in the Company which is an independent juristic person

It is settled law that shareholders have no right in the property of the Company. The corporate veil cannot be lifted unless a compelling case is made out by the Plaintiffs, since the doctrine stands as an exception to the…