Supreme Court of India

PANNALAL BHANSALI versus BHARTI TELECOM LIMITED & ORS.

2026 INSC 213

Case number
CIVIL APPEAL No. 7655/2025
Judgment date
2026-03-10
Petitioner / appellant
PANNALAL BHANSALI
Respondent
BHARTI TELECOM LIMITED & ORS.
Neutral citation
2026 INSC 213
Other citation
[2026] 3 S.C.R. 493
CNR
ESCR010000872026
Bench / judges
SANJAY KUMAR, K. VINOD CHANDRAN
Author judge
SANJAY KUMAR
Bench size
2 Judges
Disposal nature
Dismissed
Judgment year
2026

Issue for consideration

Issue arose whether the reduction of share capital u/s.66 of the Companies Act, 2013, and the consequent forced exit of minority shareholders, was arbitrary and unfair.

Headnote excerpt

Companies Act, 2013 – s.66 – Reduction of share capital – company, held a fraction of 1.09% of shares – Respondent no.1 decided to reduce its share capital u/s.66, by cancelling 28,457,840 equity shares held by the minority shareholders and paying them an exit price of Rs.163.25 per share which was subsequently raised to Rs.196.80 per share

Full Judgement details :

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