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 …
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 …
[Decided on 07/02/2012] Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (Act of 1985) read with section 53A of the Transfer of Property Act, 1882 (Act of 1882) – Agreement to sell land by a sick company – Possession of land given to the purchaser – BIFR restricts the sale-Whether correct – …
[SECURITIES APPELLATE TRIBUNAL, 31 Jan 2012] Securities Exchange Board of India – Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992, 3(i) and 4 – Insider Trader – Unpublished price – Sensitive information – Penalty – Sustainability. The Appellant was guilty of ‘insider trading’ and the Board held appellant guilty of violating …
Chandrakala Vs Adjudicating Officer, SEBI, Mumbai Read More »
The Hon’ble High Court of Calcutta vide its order dated February 8, 2012, in the matter of Emami Biotech Limited [2012] 18 taxmann.com 170 (Calcutta), has held that “an order sanctioning a scheme of amalgamation or demerger under Section 394 of the Companies Act, answers to the description of the words “instrument” and “conveyance” within …
Civil Application No. 140 of 2010 in Ferast No. 22067 of 2010 D Y Chandrachud, J. & M S Sanklecha, J. Decided on 07-02-2012 Section 52 of the Foreign Exchange Regulation Act, 1973 (FERA) read with Sections 19 of the Foreign Exchange Management Act, 1999(FEMA) – Appeal to High court from the order of the …
Union of India V. Reliance Industries Ltd. [BOM] Read More »
K. R. SUBRAMANIAN V. OFFICIAL LIQUIDATOR, HIGH COURT OF KERALA [(2009) 147 COMP CAS 123(KER) ] J.B. KOSHY & K.P. BALACHANDRAN JJ. Companies Act,1956 [Section 454] [DECIDED ON 15.10.2008] Companies Act,1956 – Sections 454 – statement of affairs – failure to file – liability of managing director – liability of erstwhile director- managing director showed …
Implications of Failure to file Statement of Affairs Read More »
MARBLE CITY HOSPITAL AND RESEARCH CENTRE P.LTD V. SARABJEET SINGH MOKHA [2010] 155 COMP CAS 13 (MP)] RAJENDRA MENON J DECIDED ON 17.07.2009 Companies Act, 1956 – Sections 53, 193, 194 and 283(1)(g) –Vacation of the office of director due to failure to attend three consecutive meetings whether removal of director is valid – held, …
HDFC VS. GAUTAM KUMAR NAG & ORS Decided on 20th January, 2012 Facts – The appellant, HDFC granted loan to the borrower (not a defendant in this case) for constructing a house on a plot owned by him. To secure the loan amount, the borrower : a) Executed a promissory note in favor of the …
The Liability of the Guarantors is absolute and co-extensive with that of the borrower. Read More »
[vc_row][vc_column][vc_column_text]Ranbaxy Laboratories Ltd v. Dr. Jayaram Chigurupati And Others [2010] 153 Comp Cas 162 CLB Decided on 21/10/2009 Companies Act, 1956 – Section 260 and 287(2) – Quorum for Board Meeting convened by Single Director on account of resignation of two directors to appoint two additional directors to constitute quorum – whether such appointment is …
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