Tagged “company-law”

7 articles on company-law.

Landmark JudgmentSupreme Court of India

Bacha F. Guzdar v. CIT, Bombay: a shareholder is not a part-owner of the company's assets

The foundational Indian application of the Salomon principle — a shareholder owns shares, not the company's property, and the agricultural character of a tea company's income does not pass through to dividends in the shareholder's hands.

Valkya Editorial·14 Jun 2026·8 min

Landmark JudgmentSupreme Court of India

Balwant Rai Saluja v. Air India: the strict test for lifting the corporate veil

A three-judge bench laid down a strict, impropriety-based six-fold test for piercing the corporate veil, holding that canteen workers engaged through a wholly-owned subsidiary were not workmen of the parent company.

Valkya Editorial·14 Jun 2026·8 min

Landmark JudgmentSupreme Court of India

Dale & Carrington Investment v. P.K. Prathapan: directors' fiduciary duty and allotment to gain control

The Supreme Court imported the 'proper purpose' rule into Indian company law, holding that an allotment engineered to reduce a majority shareholder to a minority is an invalid exercise of fiduciary power and an act of oppression.

Valkya Editorial·14 Jun 2026·8 min

Landmark JudgmentSupreme Court of India

LIC v. Escorts: corporate veil, shareholder democracy and the limits of judicial review

A five-judge Constitution Bench delivered a foundational statement on separate corporate personality, the narrow grounds for lifting the corporate veil, and the shareholder's right to requisition a meeting irrespective of motive.

Valkya Editorial·14 Jun 2026·8 min

Landmark JudgmentSupreme Court of India

Miheer H. Mafatlal v. Mafatlal Industries: the company court's jurisdiction to sanction a scheme

The Supreme Court laid down the canonical checklist for sanctioning a scheme of arrangement — the court's role is supervisory, not appellate, and it does not sit in appeal over the commercial wisdom of the statutory majority.

Valkya Editorial·14 Jun 2026·8 min

Landmark JudgmentSupreme Court of India

Needle Industries v. Needle Industries Newey: oppression, rights issues and equitable justice

A three-judge bench refused a finding of oppression over a FERA-driven rights issue, but moulded an equitable money remedy — the foundational Indian statement of what 'oppression' means under company law.

Valkya Editorial·14 Jun 2026·8 min

Landmark JudgmentSupreme Court of India

Sangramsinh P. Gaekwad v. Shantadevi P. Gaekwad: the oppression standard in a family company

The Supreme Court's fullest modern restatement of the law of oppression — reaffirming that relief requires a continuous, deliberate course of unfair conduct, not isolated acts, in a dispute over the Baroda royal family's companies.

Valkya Editorial·14 Jun 2026·8 min