Sindhuja Kashyap Comments on Landmark NCLAT Order in Corporate Class Action Against Jindal Poly Films
Sindhuja Kashyap has shared her insights in a recent article published by Mint on the significant order of the National Company Law Appellate Tribunal (NCLAT) refusing to stay India’s first corporate class action against Jindal Poly Films.
Commenting on the development, Sindhuja noted, “This is the first time a corporate class action has survived the initial stay challenge and moved forward post-admission. Historically, most Section 245 petitions have either been dismissed at admission or quietly settled; this order signals that class actions are no longer merely theoretical.”
She emphasised that the order marks an important inflection point in shareholder litigation under Section 245 of the Companies Act, 2013. By allowing the matter to proceed beyond the threshold stage, the appellate tribunal has indicated a greater willingness to let collective shareholder claims be adjudicated on merits rather than being curtailed at inception.
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