Delhi HC upholds BharatPe shareholder rights protection
In short
The Delhi High Court has kept interim protection in place for BharatPe’s shareholder rights and dismissed Unity Bank’s appeal. The court also said the bank and its promoter cannot move ahead on reserved matters without RIPL’s written consent, as the shareholders’ agreement requires.
What the reporting says
The Delhi High Court upheld interim protection for BharatPe’s shareholder rights and dismissed Unity Bank’s appeal, according to the report. The court has twice declined to let the bank and its promoter proceed on reserved matters without prior written consent from RIPL, as required under the shareholders’ agreement. The decision keeps the consent requirement in place for those matters.
Why it matters
The Delhi High Court upheld interim protection for BharatPe’s shareholder rights and dismissed Unity Bank’s appeal. The court has twice refused to allow the bank and its promoter to proceed on reserved matters without RIPL’s prior written consent, following the shareholders’ agreement. The ruling supports the contractual consent framework around key corporate decisions involving the parties.