Category - Company Law

CCI notifies Combination Regulations to regulate M&As

Competition Commission of India (CCI) (Procedure in regard to the transaction of business relating to combination) Regulation 2011 The Competition Commission of India (CCI) today  notified regulations requiring corporates to seek its approval before going in for high value mergers and acquisitions. Only those proposals would need the CCI™s nod where the companies have combined assets… Read More

Tags: cciCombination RegulationsCompetition CommissionM&A

BSE seeks to revive its wholesale debt trading platform

The country's oldest stock exchange, the BSE, is looking to revive its wholesale debt trading platform with the waiver of annual charges and lower net worth requirements for those willing to trade on the bourse. The exchange has decided to waive off the annual subscription fee of Rs 25,000 for its wholesale debt market (WDM)… Read More

Tag: BSE

SEBI cautions bourses on money laundering from Iran and North Korea

Sebi has asked stock exchanges in the country to be cautious in dealings with funds and entities from Iran and North Korea fearing possible black money flow and terror financing risks from those countries into the Indian stock market, The country's top bourse NSE's investigation department today said in a circular to the bourse's members… Read More

Tags: black moneymoney laundering

Cabinet likely to approve FDI in LLP firms

The Cabinet is likely to approve a proposal to allow foreign direct investment (FDI) in Limited Liability Partnership (LLP) firms tomorrow. Giving go ahead to FDI in LLPs would enable them to choose among domestic and foreign investors and make these more competitive. This move will also encourage more partnership firms to convert into LLPs.… Read More

Tag: FDI in LLP

Amendments in the Companies Regulations, 1956

GOI, Ministry of Corporate Affairs; Notification dated 9th May, 2011 G.S.R   (E):- In exercise of the powers conferred by sub sections (1), (2), (5) and (8 ) of section 25 of the Companies Act, 1956 ( 1 of 1956), the Central Government herby makes the following regulations further to amend the Companies Regulations, 1956, namely:-… Read More

Tag: Companies (Amendment) Regulations

6th Annual Summit on Capital Markets by ASSOCHAM

The 6th Annual Summit on Capital Markets is being organised on the 26th May, 2011 in New Delhi wherein the guest of honour will be Shri R. Gopalan, Secretary, Department of Economic Affairs, Ministry of Finance, GOI and Dr. Thomas Mathew, Joint Secretary (CM) Department of Economic Affairs, Ministry of Finance, GOI. The discussion would be focused on… Read More


Draft National Voluntary Guidelines on Social, Environmental and Economic Responsibilities

The Draft National Voluntary Guidelines on Social, Environmental and Economic Responsibilities issued by the  Indian Institute of Corporate Affairs (IICA) are a refinement over the Corporate Social Responsibility Voluntary Guidelines 2009, released by the Ministry of Corporate Affairs in December 2009. The Guidelines are designed to be used by all businesses irrespective of size, sector or location laying down the… Read More

Tags: CSRICSINational Voluntary Guidelines on Social Responsibility

Restrictions on Mutual Funds to pay Commissions to Distributors to continue

New Sebi chief UK Sinha said he does not intend to reverse rules put in place by his predecessor, by CB Bhave, that restricted the ability of mutual funds to pay commissions to distributors. Indian fund houses, which manage equity and debt schemes with a corpus of over Rs 7,000,00 crore, were hopingfor change in policies… Read More

AMCs cannot change Unit terms without taking consent from Unitholders : SAT

Subramanian R. Venkat vs. Securities Exchange Board of India(Date of Decision 3/5/2011) CLR Note: It was held by the Securities Appelate Tribunal (SAT) that Asset Management Companies (AMCs) cannot change the terms of the issued units / securities arbitrarily without taking consent from the Unit-holders. Brief Facts: The Appellant are husband and wife who are… Read More

Business Program on IPO & Private Equity

Achromic Point together with two renowned law firms R & A Associates & Khaitan & Co is organizing a business program on IPO & Private Equity. Scheduled in Mumbai on 3rd June, Bangalore 17th June and in Chennai on 24th June. This workshop is designed to make an analysis of the pre-post challenges & issues… Read More

Tag: Achromic Point

Cost Audit Order for Drugs, Fertilizers, Sugar, Petro, Electricity, Telecom, Alcohol Industries

( COST AUDIT ORDER ON SPECIFIC INDUSTRIES) F. NO. 52/26/CAB-2010; Dated the 2nd May, 2011 Ministry of Corporate Affairs - Cost Audit Branch CLR Note: The companies as per the circular dated 11.04.2011 where required to appoint Cost Auditor, thus with regard to the same order has been passed for specific industries to implement the same… Read More

Cost Audit Order for Cement, Tyres, Tubes, Steel Tubes, Steel Pipes, Paper Industries

F. NO. 52/26/CAB-2010;  Dated the 3th May, 2011 Ministry of Corporate Affairs - Cost Audit Branch CLR Note: An order has been passed directing all companies to which the rules specified herein are applicable and their aggregate value of turnover made from sale or supply of all products or activities during the immediately preceding financial year exceeds Rs.… Read More

Whether Mens Reas necessary for Crimes by Companies

Whether Mens Reas is necessary for Crimes by Companies - Mens Rea means "Guilty Mind". Can a Company, which is an artificial person have a Guilty Mind? Hemanth beautifully provides an account in his Article below. The Hon™ble Supreme Court in Iridium India Telecom Ltd V Motorola Incorporated & Ors., had held that, the Companies… Read More

Tag: criminal law

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