Company Law Articles, Notification and Circular

International companies are answerable to Indian consumer courts for service deficiency, the Supreme Court has ruled, upholding the apex consumer forum's direction to a Lebanese international courier company to pay 71,615.75 US dollars compensation to a Mumbai-based firm. A bench of justices G S Singhvi and H L Dattu said in a judgement that consumers within the definition of the Consumers Protection Act(CP) can avail remedy for deficiency in service from both consumer .. Full Article

A debenture is an instrument of debt executed by the company acknowledging its obligation to repay the sum at a specified rate and also carrying an interest. It is one of the methods of raising the loan capital of the company. A debenture is thus like a certificate of loan or a loan bond evidencing the fact that the company is liable to pay a specified amount with interest and although the money raised by the debentures becomes a part of the company's capital structure, .. Full Article

The Companies (Amendment) Act, 2000 has inducted good corporate governance [CG] leading to more transparent, ethical and fair business practice to be adopted by corporates at large. The following are the provisions which have brought good CG: Section 217(2AA) dealing with Directors’ Responsibility Statement [DRS] to be included in the Directors’ Report Full Article

General Circular No. 63/2011,The Ministry has issued General Circular No. 33/2011 dated 01.06.2011 wherein it was informed that in order to ensure corporate governance and proper compliances of provisions of Companies Act, 1956, no request, whether oral or in writing or through e-forms, for recording any event based information / changes shall be accepted by the Registrar of Companies from such defaulting companies, unless they file their updated Balance Sheet and Profit.. Full Article

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that as per latest information available, no company with Baba Ramdev as Director is registered in the country. However, 34 companies are registered in the country with Acharya Balkrishna as Director. Full Article

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that it is not a fact that large number of cases under Companies Act, 1956 regarding appointment / re-appointment schedule of Managing Directors or whole time Director / Managers are pending for a long time. Full Article

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that complaints were received against M/s. Reliance Communication Limited. The following were the allegations: Full Article

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that 41 complaints alleging non-repayment of deposits were received during the last three years. Prosecutions were filed against M/s. Morepen Laboratories Limited, M/s. Euro Cotspin Limited, M/s. Asian Alloys Limited and M/s. Unique Entrade Private Limited. Full Article