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ICAI has expressed its serious concern to rename the ICWAI body to a name identical to Institute of Chartered Accountants of India. The matter of renaming Institute of Cost & Works Accountants of India proposed to name Institute of Cost & Management Accountant of India has been resurfaced again because of sub-clause II of clause (i) of Section 3 of the Cost and Works Accountants (Amendment) Bill, 2010 (Bill No. XXVI of 2010).
It is known that section 397/398 of Companies Act, 1956 substantially provide relief to the minority shareholders/shareholders against the oppression/mismanagement by the Company or the Majority Shareholders in the Company.
Company takeover rules in India are set to get egalitarian and move closer to global practices, if the market regulator accepts the suggestions of a panel it constituted.The recommendations of the group include treatment of all shareholders of the target company, including promoters, on a par, and allowing investors to own up to a fourth of a company without an obligation to buy more from minority shareholders.
