Mumbai, Sept. 7 -- In a decisive judgment, the Supreme Court reinstated Shailaja Krishna as the majority shareholder and executive director of Satori Global Ltd (formerly Sargam Exim Pvt. Ltd), which is engaged in paper trading, overturning her removal orchestrated through invalid board meetings and a questionable transfer of nearly her entire shareholding to her mother-in-law.

In a judgment delivered on 2 September, the court set aside the 2023 order of the National Company Law Appellate Tribunal (NCLAT) and restored the ruling of the National Company Law Tribunal (NCLT). The apex court held that the 2010 board meetings, which helped to remove Krishna, lacked proper notice, quorum, and compliance with the Companies Act, while the share ...