Supreme Court Upholds Share Capital Reduction in Bharti Telecom Case
The Supreme Court has dismissed appeals from Bharti Telecom Limited's minority shareholders who challenged the company's decision to reduce its share capital. The decision upheld the company's valuation of shares, stating it followed due legal processes. The case involved a reduction impacting 1.09% of total shareholding.
- Country:
- India
On Tuesday, the Supreme Court dismissed appeals from minority shareholders of Bharti Telecom Limited, supporting the company's move to reduce share capital.
A bench including Justices Sanjay Kumar and K Vinod Chandran affirmed the legality of the valuation, asserting that it complied with the Companies Act.
The dispute arose from a 2018 decision impacting 1.09% of shares, where shareholders contested what they considered an unfair valuation.
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