Siddharth Yadav SA

Siddharth has advised companies from multiple jurisdictions, involving complex issues such as third-party recoveries, management of shareholding and distribution of assets amongst shareholders.

• Acted for a garment manufacturing Indian Company, which was in a Joint-venture with a Holland based Company. The Dutch company made an attempt to dilute the shareholding of the Indian Company, by offering preferential shares to the Dutch Company, against which an order of restrain was passed in favour of the Indian Company, by the High Court of Mumbai.
• Acted for a Management team against illegal dilution of their shareholding leading to non-payment of their committed dues, by an American Company. The Management initiated action at Courts at Delhi, which led to reference of disputes to Arbitration before the Singapore International Arbitration Tribunal (‘SIAC’), leading to full payment in favour of the Management team, of their dues.
• Acted for a Shareholder who sought 50% share in the Company by way of division of all assets, from the balance 50% held by his brother. The brother resisted on the pretext that his shareholding was 55% and not 50%. The case was fought before National Company Law Tribunal (‘NCLT’), High Court at Kolkata and Supreme Court of India, wherein the Court eventually held 50-50 per cent shareholding, in favour of the Parties.
• Acted for a Client (majority shareholder) for his claim over right to manage and control the Company (Brewery), along with his sons; a right contested by his brother and nephews. The NCLT upheld the Client’s right of management and control, which vested absolutely without any interference from his brother and nephews, who were the minority shareholders.
• Acted for minority shareholders in their challenge to the mismanagement in the affairs of the Company, by the majority shareholders, who sought to dilute a valuable asset of the Company, on the ground to pay debts towards financial institutions. The majority shareholder had siphoned-off funds to off-shore companies in England, Singapore and Australia.

Siddharth’s expertise in insolvency proceedings makes him the first choice Counsel in complex cases, across all forums, namely, National Company Law Tribunal, National Company Law Appellate Tribunal and the Supreme Court.

• Acted for erstwhile owner of a Company who had lost control over the Company by way of order for liquidation and eventual sale of the Company, by NCLT. The Supreme Court held that the process followed by the liquidator was not as laid down in Insolvency & Bankruptcy Code of India, 2016.
• Acted for Resolution Professional in a large housing project which involved over 700 residents.
• Acted for erstwhile Director of a Company which is facing liquidation proceedings before the NCLT, to demonstrate that the initiation of Insolvency proceedings against the Company, per-se, is contrary to the provisions of Insolvency & Bankruptcy Code of India, 2016.
• Acted for a Company before NCLT wherein the question of law arose whether pendency of Arbitration proceedings between the parties, would have any impact on the insolvency proceedings, between the same parties.
• Acted for a Company managed by the elder brother, in dispute with the younger brother, who was in control of the other group company. After arriving at a written settlement, disputes still continued between the brothers, leading to filing of multiple petitions for distribution of assets, insolvency of companies and contest over shareholding pattern by way of cross-holdings in the group companies.

The core area of practice for Siddharth, besides Commercial Litigation and International Arbitration remains execution and challenge to Wills, Grant or objection to Grant of Probate, with emphasis on High-Net Worth Individuals and distribution of their assets.

• Acted for Mr. Jagmohan Prasada who had set-up a Will of his late grandfather, who had bequeathed his entire Estate in favour of his one son, i.e., father of Mr. Prasada while dis-inheriting his other son. The Court upheld the Will of the grandfather, thereby handing over the Estate in favour of Mr. J. Prasada.
• Acted for a Mr. Sai Chanakya, a High Net Worth Individual (‘HNI’) for division of movable assets and immovable properties, spread over Delhi. The High Court ruled in favour of Mr. Chanakya to hold that he had 1/3^rd share in all the assets, left behind by his grandfather.
• Acted for Ms. Deepika Talwar against her two sisters in a contest for Partition of Estate of her late father. Ms. Talwar, who is based in New York, USA sought 1/3^rd share in the Estate of her father, which was being denied by her sister, who was based in India. The third sister was based in London, England.
• Acted for Mr. Gautam Srivastava and his sisters in a Suit for Partition, filed by his sister-in-law wherein she challenged the validity of the Will of late father of Mr. Srivastava.
• Acted for Mrs. Jyoti Wazir & her sister in their challenge to the Will of their father, against the brother. The brother had set-up a Will of the father, thereby claiming exclusive right over the Estate. The Will was challenged on the ground that the same was not validly and legally executed and that the same had been executed by the father, under duress.
• Acted for Mr. Harjit Singh Kochhar, in his Petition for grant of Probate of the Will of his late father. The Petition was challenged by his brothers on the ground that the Will was executed by the father, when he was of unsound mind, being 93 years old.
• Acted for Mrs. Amrit Srinivasan, in her challenge to the Will of her late father, whereby her brother claimed exclusive right over the Estate. The dispute involved several movable and immovable properties, spread over different jurisdictions.