Do Directors Owe Fiduciary Duty to Shareholders?

Do Directors Owe Fiduciary Duty to Shareholders?

ByVivek Kumar Verma

Scope and Definition of ‘fiduciary’, “fiduciary capacity” and “fiduciary relationship” The Hon’ble Supreme Court in Sri Marcel Martins vs. M. Printer and Ors.[1] defined the term ‘fiduciary’ as- “The word ‘fiduciary’, as a noun, means one who holds a thing in trust for another, a trustee, a person holding the character of a trustee, or…

IN RE Tecumseh Products India Private Ltd.

ByVivek Kumar Verma

CITATION: 82 (1999) DLT 518 DECIDED on: 13.08.1999 FACTS In this case a Company Petition was filed by M/s. Tecumseh India Private Limited (“Transferee Company”) seeking amalgamation of M/s. Tecumseh Products India Limited (“Transferor Company”) with the Transferee Company. Both the Transferor and Transferee Company belonged to same group. The scheme of amalgamation provided that all…