Offer For Sale of Shares by Promoters through the Stock Exchange Mechanism: SEBI has in order to facilitate promoters to dilute/offload their holding in listed companies in a transparent manner with wider participation, decided to allow the offer for sale of shares by promoters of such companies through a separate window provided by the stock exchange(s). …
Listed below are the Compliances for the month of February, 2012 S. No. Compliance Form to be filed Relevant Law Due date 1. Excise Duty payment GAR 7 Central Excise Rules, 2002 5th February 2. Payment of service tax collected by the department GAR 7 Service Tax Rules, 1994 5th February 3. Professional Tax Monthly …
Applicant company’s request to convene an EGM was rejected by the respondent company on the ground that company secretary was not authorized to sign. The grounds were later quashed and the EGM held was legal and valid – Sections 169, 398, 402 of the Companies Act, 1956. DECIDED ON 16/05/2011 Brief facts: The appellant company …
IFCI LTD V. TFCI LTD [DEL] CO.A (SB) 13/2011 & CO. Read More »
Increase in the shareholding of the promoters as a result of the buyback of shares by the Company in which the promoters did not participate, will not constitute acquisition of shares by the promoters within the meaning of takeover regulations. Decided on 21st November, 2011 Facts : The Appellants herein were the promoters/members of promoter …
Alibi Meaning: In the original Latin it means “in another place,” An excuse used by a person accused or suspected of a crime that he or she was not at the place of crime. Example: He was able to prove an alibi which could not be shaken. Pronunciation: ˈa-lə-ˌbī Pro Se : Meaning: “for himself.” Example: …
[vc_row][vc_column][vc_column_text]Ministry of Corporate Affairs has recently issued various notifications/circulars relating to Cost Audits. Ministry of Corporate Affairs has notified the Companies (Cost Audit Report) Rules, 2011 (Rules) vide Notification No. GSR 430(E), dated 3-6-2011, which supercede the Cost Audit (Report) Rules, 2001. In this regard, we would like to provide a bird’s eye view of …
Analysis of Companies(Cost Audit Report) Rules, 2011 Read More »
A Listed Company whose trading was suspended till 2009 made Preferential allotment in 2009 and allotted shares for which BSE did not accord approval for listing on the ground of faulty allotment which was held incorrect – Regulations 10, 12 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 read with Regulations 76(2), …
KALPENA PLASTIKS LIMITED v. BOMBAY STOCK EXCHANGE LTD Read More »
The trial court set aside the order issued by ROC for striking of the Company under Section 560(6) of the Companies Act, 1956 on the ground that an eviction suit was pending against the company and the striking of the company would abate the suit. The order of the trial court was not tenable. Decided …
R.G. SALES PVT. LTD & ANR v.GIRDHARILAL PARASRAMPURIA & ANR Read More »
I am glad to inform you that, the Managing Committee of The ICSI – Hyderabad Chapter in its meeting held on Saturday, the 31st December, 2011 has elected the following as its Office Bearers for the year 2012 [w.e.f. 19th January, 2012]. Office Bearers of Hyderabad Chapter for the year 2012: Vice Chairman : CS …
Compounding of Contraventions under FEMA, 1999: RBI Vide Circular RBI/2011-12/298 A.P. (DIR Series) Circular No.57 dated 13th December, 2011 notified that as a measure of customer service and for operational convenience, powers have been delegated to the Regional Offices of the Reserve Bank of India to compound certain contraventions of FEMA 1999. The contraventions include: …
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