Delhi High Court upholds BharatPe veto over Unity SFB changes
The Delhi High Court just ruled that BharatPe gets to keep its veto power over big changes at Unity Small Finance Bank.
Basically, Unity SFB can't make major moves, like changing its capital structure, without getting BharatPe's approval first.
This all started when Unity SFB tried to bump up its authorized share capital by ₹900 crore, but BharatPe pushed back, citing the shareholders' agreement (SHA).
BharatPe owns 49% and welcomes ruling
BharatPe owns 49% of Unity SFB, so it has a big say in what happens.
The court shot down Unity SFB's argument that the change wasn't a reserved matter.
After the decision, BharatPe said it's happy the court recognized the need to stick to agreed rules for everyone's sake, especially minority shareholders.
The takeaway? Governance and transparency still matter in fintech partnerships.