Shareholder Activism
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Buy Back of Securities by Private Limited Companies and Unlisted Companies
[vc_row][vc_column][vc_column_text]Introduction Prior to the amendment of the Companies Act, 1956, buyback of securities in India was prohibited. Section 77 of the Act, imposed a blanket ban on companies from buying their own securities. The concept of buy-back of securities was introduced in the Companies Act, 1956 by the Companies (Amendment) Act, 1999 by the insertion …
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M/S. RAJESH AND CO (Petitioner firm) Vs. RAVISSANT PVT LTD (Respondent Company) decided on 24/02/2012
M/S. RAJESH AND CO (Petitioner firm) Vs. RAVISSANT PVT LTD (Respondent Company) decided on 24/02/2012 Brief facts: The facts as stated in the petition are that the petitioner firm had been supplying fabric to the respondent company on regular basis from 1996 onwards and as per the reconciliation of accounts for the period from 1st …
Mr. Chander Bhan Gandhi (Appellant) vs. M/s. Reckitt Benckiser (India) Ltd (Respondent) – Decided by High Court of Delhi on 07th March, 2012
The Respondent is a Public Limited Company incorporated under the Companies Act, 1956 on 05th July, 1951. The Shareholding pattern of the Respondent Company is reflected below : M/s. Reckitt Benckiser Plc (Holding Company) – 63.87 % , M/s. Lancaster Square Holdings SL – 36.20 % , Public holding including appellant holdings – 0.11%. Valuation …
MINISTRY OF CORPORATE AFFAIRS (MCA)
Name availability Guidelines, 2011 – The ministry has re-examined the matter regarding availability of name by the system online through STP mode and has brought about some changes wherein the names approved through STP mode on certification of Professional will be put to online check and be transferred for processing in non-STP mode in any of the …
Jiyuan LI V. Registrar Of Companies & Tianjin Tianshi India Pvt Ltd V. Registrar Of Companies
Jiyuan LI V. Registrar Of Companies & Tianjin Tianshi India Pvt Ltd V. Registrar Of Companies Breif Facts: The Registrar of Companies (ROC) received a complaint regarding the affairs of M/s. Tianjin Tianshi India Pvt Ltd (Company) being irregular and illegal. A letter dated 24.02.2004 was issued by the ROC to the company to enquire …
RESERVE BANK OF INDIA (RBI)
1. External Commercial Borrowings (ECB) for Civil Aviation Sector: RBI vide A. P. (DIR Series) Circular No. 113 dated 24th April, 2012 has notified that as per the extant guidelines, availing of ECB for working capital is not a permissible end-use for civil aviation sector. RBI has reviewed the policy related to ECB and keeping in …
Legal Jargon
De novo: Meaning: anew. Used to refer to a trial which begins all over again, as if any previous partial or complete hearing had not occurred. Example: A District Court appeal is heard by the Circuit Court de novo, with the court considering afresh all the law and facts. Pronunciation: de-novo Lis pendens: Meaning: …
SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI)
Establishment of Connectivity with both depositories NSDL and CDSL –Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement: SEBI vide CIR/MRD/DP/ 13 /2012 dated April 23, 2012to has instructed the stock exchanges consider shifting the trading in these securities to normal Rolling Settlement subject to the following: At least 50% of …