India's corporate legal landscape has been shaped by numerous landmark judgments over the years. Here is a curated list of some significant corporate law cases that have influenced the legal framework in India:
Established the principle of corporate personality, distinguishing the company as a separate legal entity from its shareholders.
Determined that a company, being a legal person, cannot claim citizenship under the Constitution of India.
Addressed issues related to the misuse of majority power and oppression of minority shareholders.
Clarified tax liabilities concerning cross-border mergers and acquisitions.
Held that software development is considered "goods" under the Sales Tax Act.
Led to significant reforms in corporate governance and stricter regulatory oversight.
Recognized workers' rights to be heard in winding-up proceedings of a company.
Discussed the rights of secured creditors in the liquidation process.
Interpreted eligibility criteria for resolution applicants under the Insolvency and Bankruptcy Code (IBC).
Upheld the constitutional validity of the IBC.
Clarified the trigger for insolvency resolution process under the IBC.
Emphasized maximization of asset value and equitable treatment of creditors in insolvency proceedings.
Highlighted homebuyers' status as financial creditors under the IBC.
14.Affirmed the primacy of the Committee of Creditors in insolvency resolutions.
Protected the interests of homebuyers in insolvency proceedings.
Upheld the validity of personal guarantors' insolvency proceedings under the IBC.
Addressed issues related to unauthorized issuance of securities and investor protection.
Dealt with corporate governance and the rights of minority shareholders.
Focused on disclosure norms and penalties for misinformation in public offerings.
Held that anticipatory bail is not maintainable for offenses under the Goods and Services Tax (GST) Act.
Discussed the scope of moratorium under the IBC.
Clarified the definition of "financial debt" under the IBC.
Examined the jurisdiction of the National Company Law Tribunal (NCLT) over government policies during insolvency proceedings.
Affirmed the commercial wisdom of the Committee of Creditors in approving or rejecting resolution plans.
Determined the classification of creditors and related-party transactions under the IBC.
These judgments have played a pivotal role in shaping corporate law in India, addressing various aspects such as corporate governance, insolvency, taxation, and shareholder rights.