New Delhi, Nov. 28 -- India's markets regulator has approached the National Company Law Tribunal (NCLT), seeking permission to join India's first corporate class action suit, in which minority shareholders are suing Jindal Poly Films and members of its promoter family for allegedly siphoning assets worth more than Rs.2,500 crore. Mint has seen a copy of Sebi's plea.

Sebi's involvement brings a fresh twist to the landmark case, filed in March 2024. But Why is the regulator keen to join in, and how will this affect the proceedings? Let's find out.

What is the class action suit about?

Minority shareholders of Jindal Poly Films accuse promoters Shyam Sunder Jindal and Subhadra Jindal of diverting assets and selling them for less than they ...