DECIDED ON: 15-10-2013 CASE IN BRIEF:Section 8 of Arbitration & Conciliation Act, 1996 read with Sections 397 & 398 of Companies Act, 1956 – Disputes relating to management of the company and also shareholders agreement-whether to be referred to arbitration- Held, No. FACTS: The Petitioner is an investor and had invested a sum of Rs. …
IN RE: VALAYA CLOATHING PRIVATE LIMITED & OTHERS (COMPANY LAW BOARD) Read More »
DECIDED ON: 08/07/2013 CASE IN BRIEF: Section 111A of Companies Act, 1956 – Loss of share certificates – fraudulent transfers – non- issuance of duplicate share certificate by company – whether petition is maintainable- Held, Yes. FACTS: The Petitioner has filed a petition under Section 111A of Companies Act, praying for an order for rectification …
Labour Law & other Compliance’s for the month of December, 2013 S.No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5thDecember, 2013 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5thDecember, 2013 3 Service Tax Voluntary Compliance Encouragement Scheme, …
INTRODUCTION The Companies Act, 2013 (“Act”) has brought major changes not only towards the legal and secretarial welfare but also towards social welfare which could be widely justified by incorporating the provisions of Corporate Social Responsibility (“CSR”) in the new Act. CSR is basically a concept whereby Companies decide voluntarily to contribute to a better …
Foreign Direct Investment in Financial Sector – Transfer of Shares As per the existing FEMA regulations, in case of transfer of shares from Residents to Non-Residents where the investee company is in the financial services sector, No Objection Certificate (NoC) is required to be obtained from the respective financial sector regulator/regulators of the investee company …
Compliance with the provisions of Equity Listing Agreement by listed companies-Monitoring by Stock Exchanges: Sebi has vide its Circular CIR/CFD/POLICYCELL/13/2013 dated 18th November, 2013 raised concerns that even though listed companies make disclosures to Stock Exchanges within the timeframe stipulated under the Listing Agreement; the contents of the disclosures made by such companies are not …
Clarification with regard to applicability of provision of Section 372A of the Companies Act, 1956: Consequent to the notification of Section 185 of the Companies Act, 2013 dealing with loans to directors which corresponds to Section 295 of the Companies Act, 1956, the Ministry had been approached with a number of representations. Section 186 of …
Word: “Accession” Meaning : The mode of acquiring property by which the owner of property becomes the owner of an addition by growth, improvement, increase or labor. Example : The turmoil surrounding his accession highlights the importance of order in the palace. Word : “Caveat” Meaning : A notice of the court or judicial officer …
Corporate governance continues to be a pressing issue since the introduction of the Sarbanes-Oxley Act in the U.S. in 2002, which was ushered in to restore public confidence in companies and markets after accounting fraud bankrupted high-profile companies such as Enron and WorldCom. In India too, over the past few years, trust in political and …
The Ministry of Finance (“MoF“) through a press release dated September 27, 2013 (“Press Release“)1, has permitted unlisted Indian companies to list directly on offshore stock exchanges without prior or simultaneous or subsequent listing in India, which was not permitted earlier. The main features of Press Release are: Unlisted companies allowed to issue ADRs/ GDRs …
Indian Unlisted Companies Allowed to List Internationally Read More »
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