Companies Act

It is known that resolving the disputes between or among the shareholders in a closely held company is very difficult in the absence of any settlement between or among the parties. Now a day, based on the practice of entertaining petitions under section 397/398 of the Companies Act, 1956 without looking into sheer technicalities, a shareholder/s who is qualified to approach Company Law Board under section 399 of the Companies Act, 1956 and who has a grievance with the ot.. Full Article

Settling or putting an end to the disputes among shareholders by the Company Law Board under section 397/398 of the Companies Act, 1956 is a complicated job. When where exist serious difference of opinion among the minority and majority shareholders in a Private Limited Company, it would really be difficult for the Company Law Board to put an end to the matters complained of or to regularize the affairs of the Company. Full Article

The Companies Bill 2009 has dealt with independent directors quite extensively. The Standing Committee has spent significant time on issues relating to independent directors as evident from the report of the Committee. This shows the criticality of t Full Article

Section 210A of the Companies Act, 1956 – Constitution of National Advisory Committee on Accounting Standards – Amendment in Notification No. S.O. 1800(E), dated 21-7-2009 Notification No. S.O.2392(E), dated 29-9-2010 In exercise of the powers conferred by sub-section (1) of Section 210A of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes [...] Full Article

Taking up cudgels on behalf of corporate India, the Confederation of Indian Industry (CII) has expressed itself against making maintenance of cost records mandatory as suggested by the parliamentary standing committee that has studied the Companies B Full Article

The Union ministry of corporate affairs is likely to approach the Supreme Court for permission to appoint a new central administrative head for offices of the registrar of companies (RoC) spread across the country. The move comes against the backdrop Full Article

New Delhi, Oct 5 (PTI) The CBI has filed chargesheet against former member of Company Law Board R Vasudevan and five others for allegedly accepting a bribe of Rs seven lakh for giving a favourable order in a case being presided over by him. Full Article

I have read few judgments on a proceeding under section 397/398 of Companies Act, 1956 placing reliance on Company Law Board regulations and based on the procedural technicality. With great respect to the courts, I do strongly feel that the Company Law Board should not go technically in a proceeding under section 397/398 of the Companies Act, 1956. Full Article