A.Sinha & Associates, Advocates

In "Shailaja Krishna v. Satori Global Ltd. (2025)", the Supreme Court set aside the NCLAT's order, reinstating the NCLT's 2018 ruling that restored Shailaja Krishna as majority shareholder and director, finding her 2010 resignation and 98% share transfer via a fraudulent gift deed, procured through coercion and blank signatures, void ab initio under the Companies Act. The Court affirmed NCLT's plenary jurisdiction to investigate fraud in oppression and mismanagement petitions when intrinsic to the dispute, nullifying subsequent board actions. This ruling underscores robust safeguards against mala fide ousters in closely held companies, reinforcing Krishna's control. Case summary is divided into 2 parts. Part A summarises the Judgement of Supreme Court of India and Part B summarises the Order of NCLAT.  A.     SUPREME COURT OF INDIA Case Brief: Mrs. Shailja Krishna v. Satori Global Limited & Ors. Case Details: Citation: (2025) INSC 1065 Court: Sup...

  Brief overview of Probate & Letters of Administration in India Overview In India, the management and distribution of a deceased individual’s estate are primarily regulated by the Indian Succession Act, 1925. This legislation provides two essential legal tools—Probate and Letters of Administration—to ensure that a deceased person’s assets are distributed in accordance with their wishes or applicable legal provisions. These processes safeguard the proper handling of estates, whether a valid will exists or not. Probate Explained Probate refers to a judicial process under the Indian Succession Act, 1925, where a court validates a will and authorizes the executor named in it to manage the deceased’s estate. As defined in Section 2(f) of the Act, probate is a certified copy of the will, issued under the court’s seal, accompanied by a grant of administration to the estate. Key Aspects of Probate: When It Applies : Probate is mandatory for wills executed by Hindus, ...

  The Insolvency and Bankruptcy Code (IBC), 2016, of India, stands as a transformative reform aimed at streamlining and expediting insolvency resolution. Its introduction marked a significant shift from a "debtor-in-possession" to a "creditor-in-control" regime, with a paramount focus on maximizing asset value and fostering responsible credit behavior. This note delves into the economic underpinnings of the IBC, drawing insights from Cooter and Ulen's principles of law and economics, and offers a comparative perspective with US bankruptcy law, highlighting recent judicial developments in both jurisdictions. Economic Foundations of the IBC, 2016: Efficiency and Pareto Improvements The IBC is deeply rooted in principles of economic efficiency, seeking to address the fragmentation and inefficiencies that plagued India's pre-IBC insolvency regime. Cooter and Ulen's framework of efficiency (maximizing societal welfare from scarce resources) and distribution ...