I. Introduction: Merger/amalgamation is a restructuring tool which helps companies in expansion and diversification of their business and to achieve their under lying objectives. In commercial parlance, merger essentially means an arrangement whereby one or more existing companies merge their identity into another to form a new and different entity which may or may not …
Commencement notification dated 07.12.2016On 07th December, 2016, the Central Government of India, in exercise of powers conferred under sub-section 3 of section 1 of the Companies Act, 2013, notified the following sections of the Companies Act, which are made effective from 15th December, 2016. Sections Notified Sections Notified Section 2(23) Section 7(7) (c)&(d ) Section …
SEBI (Portfolio Manager) (Amendment) Regulations, 2016Vide notification issued by SEBI dated 02nd January, 2017, a new chapter on “Eligible Fund Managers” and new schedule in relation to “Declarations for Eligible Fund Managers” were inserted governing Portfolio Managers.The provisions of the above mentioned new chapter shall apply to eligible fund managers exclusively, pertaining to their activities …
Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Second Amendment) Regulations, 2016: On 02nd January, 2017, RBI in exercise of powers conferred under section 47 of the Foreign Exchange Management Act, 1999, inserted the following after Clause (vi), sub regulation (2) of Regulation 6 of Foreign Exchange Management (Transfer or Issue of Any …
Parties: Plaintiff: Ashish Bhalla Vs. Respondent: Suresh Chawdhary & Ors. Citation: CS (OS) No.188/2016 Court: High Court of Delhi at New Delhi Bench: Rajiv Sahai Endlaw I. Facts of the case: The petitioner had sought damages against the administrator of a Telegram and Google group on which the allegedly defamatory statements were made. The plaintiff in …
ONLINE GROUP ADMIN NOT LIABLE FOR MEMBER’S STATEMENTS Read More »
1. Clarification Regarding Filing of Offline Challans with IEPF Authority under Companies Act. It is mandatory for the Companies depositing amounts to IEPF under Section 125 of the Companies Act, 2013 to i) generate challans online only; ii) file form IEPF-I mentioning the SRN of challan (online mode only). 2. The Investor Education and Protection Fund …
1. Enhanced Standards for Credit Rating Agencies (CRAs) SEBI constituted a committee on “Strengthening the Guidelines and Raising Industry Standards for Credit Rating Agencies (CRAs)”. The objective of the Committee was to deliberate upon measures and guidelines to bring about greater transparency in the policies of the CRAs, enhance the standards followed by the industry …
I. INTRODUCTION Section 140 of Companies Act, 2013 and Rule 7 of Companies (Audit and Auditors) Rules, 2014 states the law and procedure regarding removal of auditor before expiry of his term. II. SECTION 140(1) – REMOVAL OF AUDITOR BEFORE THE EXPIRY OF HIS TERM Section 140(1) of the Act provides for removal of auditor before …
Procedure For Removal Of Auditor Before The Expiry Of His Term Read More »
I. Introduction: Nidhi Company is a company incorporated as such with an objective of: Cultivating the habit of thrift; Saving amongst its members; Receiving deposits from its members; and Lending money to it members. II. Procedure to setup a Nidhi Company: Rule 4 of NIDHI Rules 2014 provides that: A Nidhi Company should be incorporated …
I. Introduction After the demonetization led by our Hon’ble Prime Minister, Mr. Narendra Modi, the aim of whom was to wash away the black money out of the economy and get it into the licit, banked as well as taxable part of the economy, the next target of our Prime Minister is Benami Properties. The …
Don’t miss our future updates! Get Subscribed Today!