SESA INDUSTRIES LTD. vs KRISHNA H. BAJAJ .

The Supreme Court addressed the legality of the amalgamation scheme between Sesa Industries Ltd. (SIL) and Sesa Goa Limited (SGL) under the Companies Act, 1956, specifically citing Sections 209A, 269, 198, 309, 289, 260, and 268. The Court held that the High Court erred in allowing the amalgamation despite serious allegations of financial misconduct and minority shareholder oppression, thus setting aside the High Court's judgment and reinstating the Single Judge's order. The ruling emphasizes the need for transparency and fairness in corporate governance, particularly in matters affecting minority shareholders.