In the earlier issue, we discussed on Section 5 of the Companies Act, 1956 and in the present issue we shall proceed with Section 10 of the Companies Act, 1956 which deals with the Jurisdiction of Courts. Query No 1 : Where a Company removed the plaintiff from Board of Directors and subsequently shifted its […]
APPEAL NO: 2728 of 2013. DECIDED ON: 1-04-2013. CASE IN BRIEF:This case is a landmark decision by a two-judge bench of the Indian Supreme Court on the issue of evergreening of pharmaceutical patents. Application filed in India for patent of “Imatinib mesylate” in Beta crystalline form, by appellant (“Novartis”) denied by Assistant Controller of Patents
NOVARTIS AG. V/S UNION OF INDIA & OTHERS Read More »
Labour Law and other Compliance’s for the month of May, 2013 S.No. Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5th May, 2013 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5th May, 2013 3 Service
Compliance Calender for May, 2013 Read More »
INTRODUCTION Emergence for the need of Code of Conduct for prevention of Insider Trading SEBI in the year 1992 has framed (Prohibition on Insider Trading) Regulations 1992. This regulation provides that, no insider shall deal in securities on his own behalf, or on behalf of someone else, while in possession of unpublished price sensitive information
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Overseas Direct Investments – Clarification Reserve Bank of India has observed that eligible Indian parties are using overseas direct investments (ODI) automatic route to set up certain structures facilitating trading in currencies, securities and commodities. Also that such structures having equity participation of Indian parties have also started offering financial products linked to Indian Rupee.
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Redressal of investor grievance through SEBI Complaint Redress System (SCORES). SEBI issued circular No.CIR/OIAE/1/2013 dated April 17, 2013 for Redressal of investor grievance through SEBI Complaint Redress System (SCORES). Pursuant to the provisions of Section 15C of the SEBI Act, 1992 all listed companies are instructed to redress the grievances of the investors within 30
SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI) Read More »
Relaxation of additional Fees and extension in last date in filing of various e-forms with MCA. The Ministry of Corporate Affairs (hereinafter referred to as “MCA”) has in continuation to its General Circular no: 03/2013, dated 08th February, 2013 and General Circular no: 07/2013, dated 20th March, 2013 has issued General Circular No. 08/2013 dated
Ministry of Corporate Affairs Read More »
In the earlier issue, we discussed on Section 5 of the Companies Act, 1956 and we shall continue with the same section of the Companies Act, 1956 in this issue also. Query No 1: For offenses committed prior to the appointment of petitioner as Managing Director, can a Managing Director be held as an
Appeal No.C.P. NO. 31 OF 2012. Decided on : 03/08/2012 Brief Facts: A Company offering to be dissolved under the Fast Track Scheme without undergoing the elaborate process of winding up cannot later apply for restoration of its name in the Register of Companies. The Madras High Court rejected the plea of the petitioner that
Appeal No. 2190Of 2012 Decided on : 08/02/2013 Securities Contract (Regulations) Act, 1956 (“ The Act”) – Section 23L – Listing permission for rights issue allowed – appellants participated in the rights issue – Later sought for non granting of listing permission – NSE rejected their plea – Whether NSE is right in rejecting the
VICTOR FERNANDES & ANR v. NATIONAL STOCK EXCHANGE OF INDIA LIMITED & 22 ORS (SAT) Read More »