MCA has vide NCLT (Second Amendment) Rules, 2019 prescribed the eligibility norms for filing class action Suit under Section 245 of the Companies Act, 2013. As per amended rules, the following persons shall be eligible for filing the class action suit:
- At least 5% of the total number of members or 100 members, whichever is less; or
- Member(s) holding not less than 5% of issued share capital, in case of unlisted Company;
Member(s) holding not less than 2% of issued share capital, in case of Listed Company; or
- At least 5% of the total number of deposit holders or 100 deposit holders, whichever is less; or
- Depositor(s) to whom the Company owes not less than 5% of the total deposits of the Company.
Notification Date 08.05.2019 | Notification Link – Click here to Download