J U D G M E N T

Dr Dhanajaya Y Chandrachud, CJI

1 The applicant Tata Sons Pvt Ltd is a company incorporated under the Indian Companies Act 1913. The first respondent, Siva Industries and Holdings Ltd is a company incorporated under the Companies Act 1956 with a registered office at Chennai. The second respondent, C Sivasankaran, who is the promoter of the first respondent is a resident of Seychelles.

Signature Not Verified Digitaly signed by GULSHAN KUMAR ARORA Date: 2023.01.16

17:15:32 IST Reason:

2 The applicant, the first respondent and Tata Tele Services Ltd1 executed a share “TTSL”

subscription agreement on 24 February 2006 for the issuance and allotment of shares of TTSL to Siva Industries in accordance with its terms and conditions.

3 Subsequently, a share subscription agreement dated 12 November 2008 was entered into between NTT Docomo Inc,2 a company incorporated in Japan, the applicant and TTSL. In terms of the agreement, Docomo sought to acquire 26% of the equity share holding of TTSL through a combination of primary shares (fresh shares issued and allotted by TTSL) and secondary shares (shares held by certain existing shareholders of TTSL).

4 The first respondent was an existin