Month: January 2016

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION (L) NO. 434 OF 2015 IN SUIT (L) NO. 146 Of 2015

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Sridhar Sundararajan – Plaintiff Vs. Ultramarine & Pigments Limited – Defendant-1 and Rangaswamy Sampath – Defendant- 2 The Notice of Motion seeks an order against the 2nd Defendant from functioning or continuing to exercise his powers as Chairman and Managing Director of the 1st Defendant-Company. Facts: The 1st Defendant is a public limited listed Company. …

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Mergers & Amalgamations (perspective)-Comparison between Companies Act 1956 and Companies Act 2013

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S. No. Particulars Companies Act, 2013 Companies Act, 1956 1 Applicability Section  230 – 240* Section  390 -396A 2 Cross Border Mergers Inbound mergers (Foreign Company merging into Indian Company as well as outbound foreign company mergers (Indian Company merging into foreign Company with RBI approval) are allowed. Permits only inbound foreign Company merger (Foreign Company …

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LABOUR LAW & OTHER COMPLIANCE’S FOR THE MONTH OF JANUARY 2016

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S.No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th January 2016 2 Payment of service tax  to the department GAR 7 Service Tax Rules, 1994  6th  January 2016 3 Monthly return for production and removal of goods and other relevant particulars and CENVAT …

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Compliance Calendar as per SEBI Listing Regulations 2015 (Equity listed) for the quarter ended on 31st December, 2015

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S. No Activities Regulations Acts / Regulations, etc. Compliance Due Date 1.         Statement on Investor Complaints Specifying the number of investor complaints pending at the beginning of the quarter, those received during the quarter, disposed of during the quarter and those remaining unresolved at the end of the quarter. 13(3) SEBI Listing Regulations 2015 …

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Corporate Governance Guidelines in Sri lanka

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The Code of Best practice (“Guidelines”) on corporate governance is a joint initiative by The Institute of Chartered Accountants and the Securities & Exchange Commission of Sri lanka. The principles laid down in these guidelines are divided into two categories: Section 1: The Company: A. Directors A.1.The Board: Every public company should be headed by …

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Legal Jargons

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Word: ad quod damnum Meaning: according to the harm Definition and Use: Implies that the reward or penalty ought to correspond to the damage suffered or inflicted. It is generally used in Law of Torts. Word: consuetudo pro lege servatur Meaning: Custom is held as law Definition and Use: Where no laws apply to a …

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Ministry of corporate affairs (MCA)

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Amendments in Rules Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015: The Central Government has on 14th Dec, 2015 amended the Companies (Meetings of Board and its Powers) Rules, 2014. These rules may be called the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015: Rule 6A is inserted after …

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Securities and Exchange Board of India (SEBI)

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Introduction of system-driven disclosures in securities market: The Securities Exchange Board of India (SEBI) vide Circular No. CIR/CFD/DCR/17/2015 dated 1st December, 2015 has adopted advanced systems relating to acquisition, sale and pledge of securities under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as “SAST Regulations”) and SEBI (Prohibition of …

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