NCLT Admits Minority Shareholders’ Class Action Against Jindal Poly Films

The National Company Law Tribunal admitted a class action petition filed by minority shareholders of Jindal Poly Films, holding that allegations of prejudicial conduct by the management warrant detailed adjudication.

The tribunal rejected objections on maintainability and ruled that the petition under Section 245 of the Companies Act, 2013 meets the statutory threshold, as the petitioners collectively hold around five per cent shareholding.

The shareholders alleged undervalued related-party transactions involving preference shares in group entities, causing substantial losses.

The NCLT observed that Section 245 permits claims for compensation even for past transactions and listed the matter for further hearing on April 2, 2026.