According to this article from The Business Standard, the Indian government is planning to enact legislation to allow class action lawsuits to be brought by shareholders.

According to the article, Indian law currently allows individuals to file "public interest litigation...limited to the violation of fundamental rights and not for civil claims or torts."

The legislation, which is part of a broader new "Company Law Bill," is expected to be voted on during the winter session of Parliament, and stems from an expert report submitted to the Ministry of Corporate Affairs back in 2005.