Government notifies thresholds for filing class action lawsuits
Corporate affairs ministry has notified the thresholds for filing class action, a provision focused on providing a redressal mechanism for small and minority investors. An application for class action can be filed by a member or members representing 5% of the total members of a company. It can also be done by 100 members of a company, whichever is less. Same criteria will also be applicable for depositors of deposit-taking Companies.
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