NEW DELHI: In a significant move, the government is readying a scheme to provide financial assistance to minority investors filing class action lawsuits under the companies law, a senior official said. The concept of the class action suit, that provides an option for investors to seek remedy as a group, is well known in Western countries. "Minority investors are not well equipped to pursue a class action. Minority investors who are suffering should resort to class action suits, which is provided for in the Companies Act. We will certainly do whatever is necessary to encourage investors to resort to a class action," Srinivas said.

Source: Mint May 05, 2019 17:03 UTC