This write-up examines various provisions governing Issue of Employee Stock Option Plans as applicable to ‘Unlisted Public Companies’. IntroductionThe idea that employees should have an ownership stake in the company led to the emergence of concept of Employee Stock Option Plan (ESOP). The concept of ESOP is believed to be the brain child of an …
Employee Stock Option Plan (ESOP) – Companies Act, 2013 Read More »
1. Alteration of Schedule III of The Companies Act, 2013: Ministry of Corporate Affairs vide its notification dated, 4th September, 2015, has amended Schedule III, Part I, Balance Sheet, under the Companies Act 2013. The details of these can be seen by following the link given above. The said notification shall come into force on …
1) Securities And Exchange Board Of India (Issue of Capital And Disclosure Requirements) (Sixth Amendment) Regulations, 2015: SEBI vide Notification No. SEBI/LAD-NRO/GN/2015-16/18 dated 10th September, 2015, has amended the SEBI (ICDR) Regulations, 2009 regarding Anchor Investors as follows: “in case of allocation above Rs.250 crore; a minimum of 5 such investors and a maximum of …
The Stock Exchange, Bombay …….Appellant Versus V.S. Kandalgaonkar & Ors. ..….Respondents 1. BACKGROUND OF THE CASE: The case pertains to the Income Tax Authorities’ right to recover its dues from the defaulting members of the Stock Exchange, by claiming over the amount realized by the stock exchange through auction of the membership card of such …
IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO.4354 of 2003 Read More »
Dear Friends, The GDP numbers for Q1 for FY 2016 are out registering a growth of 7% as against 7.5% for the previous quarter in the backdrop of deceleration in the farm, services and manufacturing sector. Government projected a GDP of 8.1% – 8.5% for FY 16 which seemed to be a difficult proposition given …
I. INTRODUCTION The financial/ corporate frauds and scams which have taken place in India, required the attention of the Law makers. It was high time to evaluate the high standards in corporate governance and implement stringent provisions to tackle corporate Fraud. The problem was on the rise both in its frequency and severity. The increasing …
I. Introduction Securities and Exchange Board of India (‘SEBI’) vide its circular no. CIR/MRD/DSA/14/2012 dated 30th May, 2012 has issued revised guidelines in respect of exit option for de-recognized/non-operational stock exchanges. II. Applicability The said circular applies to: Recognized stock exchanges Stock exchanges that stand de-recognised as on date of the above circular i.e, 30th …
Exit Policy for De-recognized/ Non-operational Stock Exchanges Read More »
MADHU KAPUR, WIFE OF LATE CO-FOUNDER OF YES BANK, ASHOK KAPUR VS YES BANK LIMITED & RANA KAPOOR, MANAGING DIRECTOR OF YES BANK LIMITED I. KEY NOTE OF THE CASE: Can successors of the Late Company- founder of Yes Bank Limited nominate Directors to the Board? Can successors of Late Company- founder of the Company …
Dear Friends, As the whole country mourns the sudden loss of our most favorite and beloved President Dr. A P. J Abdul Kalam, I too would like to pay my respect and homage to him by taking an oath to imbibe some of his valuable principles of life: 1) Be Active AlwaysAt 80+, when most …
INTRODUCTION: The Secretarial Standard on General Meeting (SS-2) as approved by the Central Government has been issued by the Institute of Company Secretaries of India (ICSI) under the provisions of Section 118(10) and explanation under Section 205(1) of the Companies Act, 2013 (the Act), vide ICSI Notification No. 1 (SS) of 2015 dated April 23rd, …
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