Corporate Governance in listed entities – Amendments to Clauses 35B and 49 of the Equity Listing Agreement. Securities Exchange Board of India vide Circular No. CIR/CFD/POLICY CELL/2/2014, dated April 17, 2014 has amended clause 35B and 49 of Listing agreement in order to align with the provisions of the Companies Act, 2013, adopt best practices
Securities Exchange Board of India (SEBI) Read More »
Foreign Direct Investment (FDI) in India – Reporting mechanism for transfer of equity shares/ fully and mandatorily convertible preference shares/ fully and mandatorily convertible debentures As per Reserve Bank of India’s circular dated September 6, 2013, a non-resident (NR) [including a Non Resident Indian (NRI)], who has acquired and continues to hold control in an
RESERVE BANK OF INDIA (RBI) Read More »
COMPLIANCE CALENDAR FOR LISTED COMPANIES FOR THE QUARTER ENDED ON 31ST MARCH, 2014 S.No. Activities Sections / Rules / Clauses, etc. Acts / Regulations, etc. Compliance Due Date Remarks 1. ComplianceCertificate on Corporate Governance Clause 49 Listing Agreement 15thApril, 2014 As perAnnexure-I 2. ShareholdingPattern Including details of pledge by Promoters. Clause 35 Listing Agreement 21stApril, 2014
Compliance Calender for March, 2014 Read More »
The Companies Act, 2013 (“Act“) comprises of 29 chapters, 470 sections with 7 schedules. The Ministry of Corporate Affairs has notified 283 Sections until 26th March, 2014. Let us have a glance at Notified Sections of Chapter II of the Companies Act, 2013 Section No. under Co’s Act, 2013 Corresponding Section in Co’s Act, 1956
Notified Sections of Chapter II of the Companies Act, 2013 – At A Glance Read More »
FII/QFI investments in Commercial Papers SEBI circular CIR/IMD/FIIC/6/2013 dated April 01, 2013, SEBI had permitted FIIs and QFIs to invest upto US$ 3.5 billion in Commercial Papers within the Corporate Debt limit of US$ 51 billion. Pursuant to the RBI circular reducing the existing sub-limit for FII/QFI investment in Commercial Papers from USD 3.5 billion
SECURITIES AND EXCHANGE BOARD OF INDIA Read More »
External Commercial Borrowings (ECB) – Reporting arrangements The Reserve Bank of India has issued the circular no. A.P.(DIR Series) Circular No. 105 dated 17th February, 2014 modifying the ECB 2 –Return to Capture the details of the financial hedges contracted by corporates, of their foreign currency exposure relating to ECB and their foreign currency earnings
RESERVE BANK OF INDIA Read More »
Notification relating to amendments of Schedule VII of Companies Act, 2013 The Ministry of Corporate Affairs (“MCA”) has issued notification dated 27th February, 2014 amending the Scheduled VII of Companies Act, 2013 by substituting the following items for item (i) to (x) : eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and
MINISTRY OF CORPORATE AFFAIRS Read More »
INTRODUCTION The doors for empowering women which remained closed for many decades have started budding up to take the full shape of maturity with the passage of the newly passed “The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013”(“SHW Act”), PRECURSOR& BACKGROUND TO THE LAW The era of 90’a has shown
Revitalzing Era: Breaking the doors of silence through the sexual harassment act Read More »
Decided on 21/03/2013 Companies Act, 1956 – Sections 391 & 394 – compromise with creditor – court sanctioned the scheme and kept one creditor out of the scheme – whether correct – Held,Yes. Brief facts: The appellant is aggrieved by the finding returned by the learned Company Judge in its order dated 31.03.2006. The learned
Lakshmiji Sugar Milss Company & Anr v. Union Of India & Ors [Del] Read More »
[Decided on 05/04/2013] Companies Act, 1956 Sections 20 and 22 – incorporation of companies with identical names – later company directed to change its name merely on the ground that names are identical- whether tenable- Held, No. Brief facts: Petitioner company and Respondent No.4 companies are incorporated with idendtical name with the words “VOV cosmetic”.
Vov Cosmetics Pvt Ltd & Ors v. Union Of India & Ors [Bom] Read More »