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To avoid confusion among students, the Institute of Chartered Accountants of India (ICAI) has decided not to change the curriculum of CA subject for another four to five years, said its vice-president G Ramaswamy.
With a view of provide an easy exit to the Companies which are desirous of getting the name struck off from the records of the ROC or are defunct companies i.e. such companies which are inoperative since incorporation or have commenced business but are inoperative later on and not filing their due documents timely with the Registrar of Companies, the Ministry has come out with an Easy Exit Scheme, 2010 vide its General Circular No. 2 /2010 dated May 26, 2010.
It’s official now. The two banks – The Bank of Rajasthan Ltd and ICICI Bank Ltd, the two private sector banks, one old generation and the other new generation bank are set to marry soon. While the board of both banks have approved the in principle merger, it may take couple of months to get shareholder’s approvals (meetings planned for 21st June) regulatory clearances and other procedural hurdles cleared.
We can find so many judgments of Constitutional Courts on section 397/398 of the Companies Act, 1956 and the courts have ruled and maintained some principles as to how the provisions of section 397/398 of the Companies Act, 1956 are to be interpreted. I feel that despite the settled legal principles, the facts of each case to be carefully gone into in a petition under section 397/398 of the Companies Act, 1956 and many directions or orders are passed based on facts.
