https://www.taxtmi.com/caselaws?id=371065 A derivative suit over shares of an Indian company was held to be, in substance, a foreign corporate dispute between Dubai-based shareholders concerning control of a Dubai company. The Madras High Court lacked territorial jurisdiction under Clause 12 because the Indian company's registered office in Chennai did not create jurisdiction when the real cause of action arose from foreign internal decision-making and inter se shareholder disputes. The claim was also not maintainable in India because it depended on first establishing the foreign company's beneficial interest under Dubai law, which the Indian court could not adjudicate merely because the disputed shares were held in an Indian company. The proper forum was outside India. en-us Mon, 26 Nov 2018 00:00:00 +0530 Fri, 11 Nov 2022 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371065 A derivative suit over shares of an Indian company was held to be, in substance, a foreign corporate dispute between Dubai-based shareholders concerning control of a Dubai company. The Madras High Court lacked territorial jurisdiction under Clause 12 because the Indian company's registered office in Chennai did not create jurisdiction when the real cause of action arose from foreign internal decision-making and inter se shareholder disputes. The claim was also not maintainable in India because it depended on first establishing the foreign company's beneficial interest under Dubai law, which the Indian court could not adjudicate merely because the disputed shares were held in an Indian company. The proper forum was outside India. Case-Laws Companies Law Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371065