Director liable to pay to company undue gains realised from breach of duties: Delhi HC

Rajeev Saumitra Vs Neetu Singh & Ors (Delhi High Court) In a significant ruling on January 27, 2016, the Delhi High Court, in the case of Rajeev Saumitra vs Neetu Singh & Ors, addressed crucial aspects of a director’s fiduciary duties under the Companies Act, 2013 and the maintainability of a derivative action by a shareholder. The case, arising from a dispute between estranged spouses who were equal partners in a coaching business, provided clarity on seeking recourse against a director for breaches of duty, particularly in closely held companies. The case, formally cited as I.A...