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 »
R & A celebrated its 17th Foundation Day on 23rd October, 2013. The event was a close family event commencing with a ceremonial Pooja. A quiz competition was organized for Associates and trainees on the various Sections of the Companies Act, 2013 which have been implemented till date. There were 7 teams each lead
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Introduction: The Companies Act, 2013 has brought about a remarkable development in the corporate arena by bringing in the concept of One Person Company (“OPC”). Under the ‘old’ Companies Act, 1956 minimum two members were required for formation of a Private Limited Company. This was a hindrance to the entrepreneurs who wanted to go ‘solo’.
An Insight Into One Person Company Read More »
In the earlier issue we have discussed on section 17 of the Companies Act, 1956 and in the present issue we shall proceed with section 22 & 23 which deals with the rectification of name of Company and registration of change of name respectively. Query # 1 : Where Registrar of Companies directed petitioner-company to
Word: “a priori assumption” Meaning: an assumption that is true without further proof or need to prove it. Example: It is assumed the sun will come up tomorrow. Word – “in limine” Meaning: preliminary Example: when a writ petition is dismissed in limine, it is dismissed at the admission stage.
SEBI (Delisting of Equity Shares) Regulations, 2009 – Regulation Listed company – promoter diluted 9% of its shareholding by way of approved Offer for Sale “OFS” scheme – later company opted for delisting which was approved by majority of shareholders – Board insisted that the company’s eligibility for delisting should be linked to its promoter’s
FRESENIUS KABI ONCOLOGY LTD v. SEBI [SAT] Read More »
Companies Act, 1956 – sections 391 and 394 – amalgamation – court’s power – whether court has power to direct investigation of money trail by RBI and DRI – Held, No. The appellant filed an application before the learned Single Judge proposing a scheme of amalgamation with Magic Tradelink Pvt. Ltd. and Moonlite Technochem Pvt.
MAHAK VYAPAAR PVT LTD v. REGISTRAR OF COMPANIES Read More »
Labour Law and & other compliance’s for the month of November 2013 S.No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th November 2013 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5th November 2013 3 Service Tax
Compliance Calender for November, 2013 Read More »
Foreign Direct Investment (FDI) in India –definition of ‘group company’ Reserve Bank of India has reviewed the extant FDI Policy so as to incorporate the definition for ‘group company’. The same has been announced by RBI vide its notification RBI/2013-14/356 A.P. (DIR Series) Circular No.68 dated November 01, 2013. As per the definition, ‘Group
RESERVE BANK OF INDIA Read More »
Issues pertaining to primary issuance of debt securities – Amendment to Simplified Debt Listing Agreement SEBI has decided to implement the following measures for the development of Corporate Bond Market. This decision has been taken consequent to its discussion with issuers and various other market participants and has been circulated vide Circular No CIR/IMD/DF/18/2013 dated
SECURITIES AND EXCHANGE BOARD OF INDIA Read More »