Archive · 3 Oct 2025
₹2,500 Crore Lawsuit: India's First Corporate Class Action
Imagine a group of people who own a small part of a company, like a puzzle piece.
They believe the people running the company (the owners) did something wrong that cost everyone money.
They are now taking action together as a group.
They claim the owners sold some important things for too little money, which hurt the company and its shareholders.
This is a big deal because it's the first time this type of lawsuit has been used in India to protect smaller investors.
The outcome of the case will set a precedent for how minority shareholders can seek financial help.
The lawsuit is the first corporate class action in India, brought under Section 245 of the Companies Act.
Minority shareholders allege that promoters siphoned assets worth over ₹2,500 crore.
The case targets Shyam Sunder Jindal and Subhadra Jindal, trustees of the SSJ Trust.
The lawsuit concerns the sale of investments at undervalued rates to related entities.
The NCLT is hearing the case with the next hearing on October 8.
- Who
- Minority shareholders of Jindal Poly Films are suing promoters Shyam Sunder Jindal and Subhadra Jindal.
- What
- A corporate class action lawsuit alleges asset siphoning exceeding ₹2,500 crore.
- When
- The case was initiated in March 2024 and is ongoing.
- Where
- The case is in India; the NCLT Delhi.
- Why
- Shareholders allege promoters caused wrongful losses by selling investments at undervalued rates to benefit the BC Jindal group.
- Case Type
- Corporate Class Action
- Plaintiffs
- Minority Shareholders of Jindal Poly Films
- Defendants
- Shyam Sunder Jindal, Subhadra Jindal & Others
- Alleged Amount
- ₹2,500+ crore
- Legal Basis
- Section 245 of Companies Act, 2013
- Date of Filing
- March 2024