Category - Company Law

Whether legal heirs of a former employee are liable to be prosecuted under section 630 of the Companies Act, 1956 ?

Wrongful withholding of company property is an offence and the wrong doer can be proceeded against under section 630 of the Companies Act. Whether this section can be pressed into service even against the legal heirs of past employee is the crucial question examined in the light of recent judicial elucidations.   Introduction 1.         The… Read More

Stamp duty not payable in case of increase in Authorised Share Capital in Delhi

The Delhi High Court, in its recent judgment dated 21.04.2011,  has ordered that no Stamp duty can be levied on the increased amount of Authorised Share Capital. The Petitioner - M/s S.E. Investments questioned the authority and competence of the Registrar of Companies and  the Collector of Stamps- Govt. of National Capital Territory of Delhi to… Read More

Tag: Stamp duty in case of increase in Authorise share capital

Sebi mulls cash sops for traders

The Securities and Exchange Board of India  will allow stock exchanges to infuse liquidity into their futures and options (F&O) segments by a liquidity enhancement mechanism. The guidelines would be applicable only for the equity derivative segment of stock exchanges and not cover interest rate derivatives and currency futures . The proposal under consideration includes… Read More

SEBI to frame rules for Art works & Antiques to check black money flow

With a view to safeguard the interest of genuine investors, SEBI may soon frame a stringent set of rules for funds invested in art works, antiques, coins and stamps,  to check black money flow into these products Fearing flow of illicit wealth into these funds and also a high level of risk posed by them… Read More

ICAI inviting experts for XBRL

In the recent times, XBRL has emerged as a novel way of electronic communication of financial and business data which is revolutionizing business reporting around the world. Considering the benefits attached with implementing XBRL in the preparation, analysis and communication of business information, the regulators in India have also decided to implement XBRL in their… Read More

Tag: xbrl

CCI nod necessary for M&As to check Monopolies

The government today said it will keep an eye on those merger and acquisition deals that create monopolies and impede economic growth. "The Competition Commission of India (CCI) will check mergers that end up creating monopolies or abuse of dominance harmful to consumers and small producers and impede orderly economic growth," Corporate Affairs Minister (MCA)… Read More

Tags: cciCompetition Commission

SEBI Takeover Code to be amended

The Takeover Regulations Advisory Committee met industry representatives to discuss the amendments in the new mergers and acquisitions code. The Finance Ministry is likely to finalise the proposed changes in the takeover code on mergers and acquisitions soon now. Once the Finance Ministry clears the amendments, it is likely to be approved by market regulator SEBI… Read More

Tag: takeover code

New Companies Bill to be placed in the Monsoon Session : Murli Deora

"The Companies Bill will come in for discussion in Parliament in the Monsoon Session," Corporate Affairs Minister Murli Deora said on the sidelines of a FICCI event in Delhi. The new Companies Bill, which was tabled in the backdrop of the Rs. 14,000 crore-Satyam fraud, promises greater shareholder democracy and stricter corporate governance norms. The Bill proposes to… Read More

Tag: companies bill

Now send Notices to Shareholders through Emails instead of Post

Circular No. 1712011; NO1 7/95/2011 CL-V CLR Note: Green Initiative in the Corporate Governance - Now, it becomes easier for the companies to send notices/documents to its shareholders via their E-mail instead of posting; bringing in more flexibility, less time consuming and easier  for both, the company and the shareholders. The companies will be be giving time… Read More

Structuring of Business Entities in India

Written By S.Dhanapal, B.Com,B.A.B.L,A.C.S Practising Company Secretary STRUCTURING OF BUSINESS ENTITIES IN INDIA SOLE PROPRIETORSHIP MEANING:- The sole proprietorship is the oldest, simplest, and most common form of business entity. It is a business owned by a single individual. For tax and legal liability purpose, the owner and the business are one and the same.… Read More

Tags: AssetBusinessCompanies lawCorporationHindu Undivided FamilyIncorporationLegal personalitySole proprietorship

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