2 share capital

share capital - Page 7

SEBI asks companies to declare dividend on per share basis instead of Percent basis

Clearing shareholders‘ confusion over returns they get from equities, market regulator SEBI on Friday made it mandatory for companies to declare dividend on per share basis, besides prescribing a uniform procedure for dealing with unclaimed shares.   “It has been decided to mandate that listed companies shall declare thei...

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Posted Under: SEBI |

Tax losses need to be carefully evaluated during acquisition

In commercial sense, even tax losses are valued assets and hence need to be carefully evaluated at the time of acquisition. Recently, the Pune Tribunal in case of DaimlerChrysler India (DIPL) examined the provision relating to carry forward and set-off of losses under Section 79 of the Income Tax Act, 1961 in the backdrop of […]...

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Posted Under: SEBI |

Allotment of shares is “creation” of shares and not “transfer” of shares

Khoday Distilleries vs. CIT (Supreme Court)

An allotment of shares is a “creation” of shares and not a transfer of shares. There is a vital difference between the two. An allotment is the creation of shares by appropriation out of the unappropriated share capital to a particular person....

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Merger of RIL & RPL will be tax neutral for RPL Shareholders

The merger of Reliance Pertroleum (RPL) with Reliance Industries (RIL) is the latest in a long string of amalgamations and mergers that have taken place over time in the Reliance group. As per the arrangement announced by RIL, RPL shareholders of RPL will get one share of RIL for every 16 RPL shares held by […]...

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Posted Under: SEBI |

On refusal by company to register transfer of shares appeal lies only to CLB and Civil Court has no jurisdiction

Arvind Porwal & Ors. Vs. Bharat Kumar Pandya & Anr. (MP High Court)

The Appellant filed a Civil Suit upon refusal by the Second Respondent Company to register shares transferred by the First Respondent in the name of the Appellant on the ground that the signature of the transferor did not tally with the signature in the company records. The transferor did not contest the suit and the trial court passed a ...

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BIFR empowered by express provisions of SICA to curtail the rights of shareholders

Tamil Nadu Industrial Development Corporation Ltd. vs. Board For Industrial Reconstruction & Ors. (Madras High Court)

The Appellant, a State level institution incorporated for the purpose of development of industries in the State, was an equity shareholder in the Third Respondent Company. The company was referred to the Board For Industrial Reconstruction (BIFR) for the purpose of framing a scheme for rehabilitation. The Board approved the draft revival ...

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New Satyam CEO sold shares before plunge in December

The new chief executive officer of fraud-hit Satyam Computer Services sold 40,000 shares of the company in the days before the previous  board’s aborted decision to buy two related firms, stock exchange data shows. A.S. Murty was named chief executive with immediate effect by the new government-appointed board on Thursday, Satyam s...

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Posted Under: SEBI |

SEBI makes it mandatory to disclose details of shares pledged by the promoters

PR No.58/2009 SEBI Board Meeting SEBI makes it mandatory to disclose details of shares pledged by the promoters To enhance the disclosure requirements, SEBI Board, in its meeting held today, decided to make it mandatory on the part of promoters (including promoter group) to disclose the details of pledge of shares held by them in [&hellip...

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Posted Under: SEBI |

Use of Key Words in the Proposed Names of companies and minimum Authorised Share Capital Required

The minimum authorised capital for Private Limited Company – Rs.1,00,000/-, For Public Limited Company -Rs.5,00,000/- For the use of some key words as part of name, the minimum authorised capital is given  below: 1. Corporation : 5 Crores...

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Posted Under: SEBI |

CS Appointment Limit for companies increased to 5 Crore

Notification No. G.S.R. 11(E) 05/01/2009

Notification of change in COMPANIES (APPOINTMENT AND QUALIFICATIONS OF SECRETARY) RULES to increase the present limit of paid-up capital of Rs.2 Crore to Rs. 5 Crore for appointment of full time Company Secretary w.e.f.15/03/ 2009....

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