First-of-its-Kind Class Action Against Jindal Poly Films Listed Before NCLT Special Bench; Matter to be Heard by Principal Bench on May 7

 In a significant development in what is being seen as one of India’s first-class action proceedings under Section 245 of the Companies Act, 2013, the matter against Jindal Poly Films Limited and others was listed today before a Special Bench of the National Company Law Tribunal, New Delhi.

Given that class action matters fall within the jurisdiction of the Principal Bench, the Special Bench directed that the matter be listed before the regular bench, noting that the new President of the Tribunal is expected to assume charge shortly.

During the proceedings, the Bench was informed that 45 minority shareholders of Jindal Poly Films Limited have filed intervention applications seeking to be impleaded in the class action. Additionally, senior counsel appearing for the Securities and Exchange Board of India submitted that the company has filed its reply to SEBI’s intervention application, with time granted to file a rejoinder.

The matter, along with connected applications, is now scheduled to be heard by the Principal Bench on May 7, 2026.

This case continues to be closely watched as a potential milestone in the evolution of shareholder rights and collective redressal mechanisms in India’s corporate governance landscape.