The Supreme Court of India held shareholder ratification cannot validate securities law breaches, reinstating Securities and Exchange Board of India penalties on Terrascope Ventures Limited and its directors for violating PFUTP Regulations involving fund misappropriation.
The National Company Law Appellate Tribunal (NCLAT) dismissed Jindal Poly Films Limited’s appeal challenging the National Company Law Tribunal (NCLT) order admitting a shareholder class action petition and directing issuance of public notice under the Companies Act, 2013, affirming continuation of class action proceedings.
Robust contract management is becoming a board-level priority in Indian companies as it ensures compliance, mitigates legal and financial risks, enhances operational efficiency, supports strategic planning, leverages digital transformation, and strengthens stakeholder engagement in an evolving regulatory landscape.
The Delhi High Court has prohibited Gensol and BluSmart from transferring rights over 175 leased EVs from Orix due to payment defaults and regulatory issues. Orix requested this order amid claims of contract violations. Additionally, Gensol faces scrutiny from SEBI for governance breaches, impacting investor confidence and stock stability.
Today, On 27th November, Gautam Adani and several executives from Adani Green faced allegations of securities law violations related to a bribery scheme in India. The U.S. SEC’s complaints and criminal indictments indicate serious legal challenges for the Adani Group, leading to significant financial losses and declines in stock prices for Adani Green.