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Corporate Law : The resolution plan was approved despite a higher competing offer, as creditors prioritized upfront payment and execution certaint...
Corporate Law : The Court examined misuse of anti-conversion laws through third-party complaints lacking factual basis. It held that such false FI...
Corporate Law : Explains the requirement of CTE before setup and CTO before operations. Highlights how both approvals ensure compliance and preven...
Corporate Law : Highlights that failure to act on workplace harassment complaints may be treated as abetment, attracting criminal consequences. Th...
Corporate Law : Emphasizes that organizations must shift from policy-based compliance to building a culture of safety rooted in accountability and...
Corporate Law : The amendments replace the consultation committee with CoC oversight, giving creditors greater control over liquidation decisions....
Corporate Law : The proposal focuses on enabling creditors to initiate resolution while retaining debtor management under supervision. It sets out...
Corporate Law : The amendments arise from the inclusion of a unified “service provider” definition under the Code. The move expands regulatory...
Corporate Law : The issue addressed is ambiguity in authentication and evidentiary value of financial information in insolvency cases. The propose...
Corporate Law : The proposal aligns grievance regulations with the newly introduced definition under the amended Code. It aims to ensure uniform a...
Corporate Law : Bank of India Vs Neurostar Hospital Private Limited (NCLT Mumbai) The application was filed under Section 7 of the Insolvency and ...
Corporate Law : The Tribunal held that appeals filed beyond the statutory 45-day limit cannot be entertained. It ruled that delay exceeding the co...
Corporate Law : The Tribunal held that insolvency proceedings cannot be avoided when total debt is higher than the arbitral claim. It ruled that u...
Corporate Law : The issue involved rejection of a delayed claim in bankruptcy proceedings. The Tribunal held that concealment of material facts by...
Corporate Law : The court interpreted the scope of Section 91 CrPC in summoning documents. It ruled that parties cannot demand documents as a matt...
Corporate Law : IRDAI delegates Section 34 powers between Whole Time Members and Chairperson. The move aims to streamline enforcement actions and ...
Corporate Law : The Bill mandates seat allocation using updated census figures, replacing decades-old data. It ensures fair representation aligned...
Corporate Law : The notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensurin...
Corporate Law : The government approved a major fund to enhance startup funding through AIFs. The scheme aims to strengthen innovation, especially...
Corporate Law : EPFO permits de-linking of wrongly linked Member IDs even when contributions exist, subject to limits. The circular outlines a str...
In order to implement the provisions of Sec. 51A effectively the Ministry of Home Affairs, Govt. of India requested the Ministry of Corporate Affairs to issue an appropriate order to ICAI,ICSI and ICWAI to sensitize their members to the provisions of Section 51A of Unlawful Activities(Prevention ) Act, 1967. Accordingly the Ministry of Corporate Affairs vide its letter dated 22.03.2010 (copy enclosed) asked the ICAI to advise its members to act as per mandate of the Ministry of Home Affairs.
THE issue of amendments to the RTI Act including regarding rejection of vexations and frivolous requests was discussed in a meeting held with the Chief Information Commissioners and Information Commissioners on 14.10.2009.
A nominee has the right to the shares after the original shareholder’ s death and not the deceased’s heirs, Bombay High Court has ruled. Dismissing the application of a widow who sought permission to sell the shares belonging to her late husband, Justice Roshan Dalvi held that she had no right to do so since she was not the nominee. The nominee was her late husband’s nephew.
Most unfortunate thing to happen to a woman is to become a WIDOW. Still worst is that she is not NOMINEE in LIC / GIC Policies, P.F., P.P.F., Bank Account / FDRs and other welfare laws and DDA / Society flats, etc. and – or the deceased spouse has not even made his “REGISTERED WILL”. Though legally nominee receives money as ‘Trustee” as opposed to a beneficiary, yet in most cases, nominees are reluctant to hand over money to wife and family due to one reason or other. The widow has to fight a legal battle to get the money due to her.
The Delhi high court has held that non-governmental organizations (NGOs) which get government funds should come under the purview of RTI Act making it mandatory for them to disclose information pertaining to their functioning. The term public authority has been given a broad meaning not only to include bodies which are owned, controlled or substantially financed directly or indirectly by the government but even NGOs, which are financed directly or indirectly by the government, justice Sanjeev Khanna said while declaring the stock exchanges as public authorities in a recent order.
With opposition parties training their guns on the Indian Premier League (IPL), the government today told Lok Sabha that the investigation into the sources and routes of funding for the Twenty20 tournament had already begun and “no guilty or wrong-doer” would be spared.
The following draft rules further to amend the Employees’ State Insurance (Central) Rules, 1950 were published as required under sub-section(1) of section 95 of the Employees’ State Insurance Act, 1948 (34 of 1948) in the notification of the Government of Indian in the Ministry of Labour & Employment vide No. G.S.R.164 (E), dated the 26th February, 2010, in the Gazette of India, Part II, Section 3, Sub-section (i), dated 27th February, 2010
The government plans to tighten investment norms for non-resident Indians (NRI) in companies to ensure that they do not violate foreign direct investment (FDI) sectoral caps or enter areas where such investment is banned. The Reserve Bank of India (RBI) has also mooted a proposal to withdraw the special status given to NRIs for investing in sectors such as aviation, housing and real estate.
Many in this country including the corporates are closely watching the IPL controversy and it had led Mr.Shari Tharoor to submit his resignation. There are many interesting issues in the entire episode and I want to highlight few issues as a classic example of complications in dealing with corporate issues.
Delhi High Court on Thursday said the National Stock Exchange was a public authority and was bound to reveal information under the Right to Information Act. Justice Sanjiv Khanna dismissed NSE’s plea that it could not be forced to disclose information under the transparency law since it was an autonomous body and not controlled by the government.
