Académique Documents
Professionnel Documents
Culture Documents
Territorial
1. New Delhi
(1) State of
Haryana.
Bench.
Rajasthan.
(2) State of Madhya Pradesh.
Bench.
(4)of
Union
territory
of Daman and Diu.
(3) Union territory
Dadra
and Nagar
(1) State of Uttar
Haveli.
(2) State of Uttarakhand.
Pradesh.
(1) State of Karnataka.
(1) State of Himachal
Pradesh.
Bench.
NCLAT
Oppression and
Corporate
Reconstruction
Winding up
Mismanagement
Insolvency
Resoluti
on
Relevan 241 of
Section
6-32 of
Section 230 to 240 of Companies
270-303, 324, 326 and
Proce
t
328-365 of the Companies
ssInsolvency
provisio Companies
the
Act, 2013: (M&A);
Act,2013 (Winding Up
ns
by tribunal) and Section 33
Act,2013
and yet
Bankruptcy
Section
66 of the Companies Act,
-77
the
Insolvency
Notified
Not
Notified
Not
yet Notified
Notofyet
Notified
and Bankruptcy Code,2016
Code,2016
2013: (Reduction of Share Capital). (Voluntary &Compulsory
Status
Class Action
Winding Up)
Suits:
Representative suit/action is not new in India ecosystem, Civil Prouder Code and Consumer Protection Act contains similar
provisions, for representative suit/actions. But both the enactments are not suffice to counter the oppressive acts of
companies and management thereof. Therefore first time in 2005, JJ Irani Report specifically advocated the need of such
measures under Companies Act, in parallel to counterparts (i.e. USA, Singapore and UK). Subsequently in
2009, it gained its momentum with "India's Enron"- Satyam Fiasco case wherein financial accounts were manipulated.
Thereafter in Companies Bill, 2009, class action suit was included as measures to be available with the Members and
Creditors of the Company wherein as per their opinion affairs of the Company are conducted in manner prejudicial to the
interest of the company, or its members and creditors.