SC Upholds Bharti Telecom's Share Capital Reduction, Dismisses Minority Shareholder Appeals

• Supreme Court dismissed appeals by minority shareholders of Bharti Telecom Limited (BTL).
• SC upheld BTL's 2018 decision to reduce share capital and ease out individual investors.
• Bench of Justices Sanjay Kumar and K Vinod Chandran stated valuation was expert exercise, company followed due process.
• Minority shareholders (1.09%) alleged "sham" valuation and "arbitrarily low" price after NCLT increased offer to Rs 196.80 per share.
• SC noted shareholders were "seasoned retail investors" who held shares despite "zero listing, marketability, dividend, or exit options."