NEW DELHI, June 22 -- A group of 29 minority shareholders has moved the Supreme Court seeking recall of its order referring the Jindal Poly Films dispute to arbitration, arguing that India's first corporate class action suit could not be settled without hearing the shareholders represented in the proceedings.

The plea, reviewed by Mint, was filed on 19 June by shareholders led by a Sohag Nanavati, who is a minority shareholder in Jindal Poly Films.

The challenge comes weeks after the Supreme Court, acting on consent terms between Jindal Poly Films and substitute petitioner Monet Securities Pvt. Ltd, referred the dispute to arbitration and set aside orders of the National Company Law Tribunal (NCLT) and the National Company Law Appellate...