NCLT1 min read
Class Action Suit
A petition under Section 245 of Companies Act 2013 by members (minimum 100 or 10% whichever is less) or depositors (minimum 100 or 10%) against the company, its directors, or auditors for fraudulent, unlawful, or wrongful acts causing loss.
Last updated: 17 May 2026
Frequently Asked Questions (FAQs)🔗
Q1. What is Class Action Suit in Indian corporate law?▼
A petition under Section 245 of Companies Act 2013 by members (minimum 100 or 10% whichever is less) or depositors (minimum 100 or 10%) against the company, its directors, or auditors for fraudulent, unlawful, or wrongful acts causing loss.
Q2. Why is Class Action Suit important for compliance?▼
Class Action Suit is adjudicated by the National Company Law Tribunal under the Companies Act, 2013 or IBC. Understanding this concept is essential for ensuring regulatory compliance, avoiding penalties, and making informed corporate decisions in India.
Q3. Who should know about Class Action Suit?▼
Class Action Suit is relevant for company secretaries, compliance officers, chartered accountants, corporate lawyers, board members, and all professionals dealing with NCLT regulatory matters in India.
Contextual Analysis & Regulatory Updates🔗
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