Articles

Exemptions to IFSC Companies under Companies Act, 2013

In exercise of powers under the Section 462(1) of Companies Act, 2013 (“the Act”), the MCA has exempted the Companies which are licensed to operate by the RBI or SEBI or IRDA from the International Financial Services Centre (“IFSC”) located in an approved multi-services Special Economic Zone set-up under the Special Economic Zones Rules, 2006… Read More

Tag: EXEMPTION TO IFSC COMPANIES

Imposition of minimum penalty not mandatory in compounding of offences: NCLT

EXECUTIVE SUMMARY Compliance to the laws enacted for man results in good governance, whereas its non-compliance can result in offence. To understand the present order of NCLT in the matter of UW International Training & Education Centre for Health Pvt. Ltd.[1] where it has held that the principle of imposition of minimum penalty is non-mandatory… Read More

DIFFERENTIAL VOTING RIGHTS AND ITS TREATMENT UNDER COMPANIES ACT,2013

A corporation is a web of contractual arrangements. Post the infamous Satyam case, the need of structured and democratic governance is felt by one and all. The concept of Differential Voting Rights is a traditional one and has received acceptance from other jurisdictions as well. The approach of the author in understanding the treatment of… Read More

FAQ’s on the Maternity Benefit (Amendment) Act, 2017

The Maternity Benefits Act, 1961 aims to regulate the women employed in factories, shops or commercial establishments 10 or more employees for certain period of leaves before and after child-birth. Recently, the Maternity Benefit (Amendment) Bill was introduced and passed in Lok Sabha on 9thMarch, 2017, by the Rajya Sabha on 20th March, 2017 and… Read More

Analysis of Exemptions to Private Companies vide notification dated 13th June 2017

MCA vide notification dated 13th June 2017, amended the principle notification providing exemptions to Private Companies vide notification no. 464(E) dated 5th June, 2017. The exceptions, modifications and adaptations provided under exemption notification dated 5th June 2015 and 13th June 2017, shall be applicable to a Private Company only if has not committed a default… Read More

Holiday Packages as Collective Investment Schemes : SEBI Perspectives and Ruling

Holiday Packages as Collective Investment Schemes : SEBI Perspectives and Ruling

EXECUTIVE SUMMARY The article delves into the recent Security Appellate Tribunal (“Tribunal”) judgment which has upheld the Security Exchanges Board of India (“SEBI”)- the (“Respondent”) order classifying the holiday schemes floated by Pancard Clubs Limited (“Appellants”) was indeed   a Collective Investment Scheme (“CIS”) and thereby directing the Appellants to inter-alia, refund the sum of money… Read More

Condonation of Delay by Central Government : Section 460 of the Companies Act, 2013

CONDONATION OF DELAY BY CENTRAL GOVERNMENT IN CERTAIN CASES (Section 460 of the Companies Act, 2013)     INTRODUCTION As per section 460 of the Companies Act, 2013 (“the Act”), Where any application required to be made to the Central Government, and Where any document required to be filed with the Registrar is not filed… Read More

Extension of Annual General Meeting (AGM)

EXTENSION OF ANNUAL GENERAL MEETING (SECTION 96 OF THE COMPANIES ACT, 2013)   INTRODUCTION Every company other than a One Person Company shall in each year hold an Annual General Meeting of the members of the Company in addition to any other meetings.   TIME PERIOD The first Annual General Meeting shall be held within… Read More

Note on Director Identification Number (DIN)

NOTE ON DIRECTOR IDENTIFICATION NUMBER (DIN)    Power of Central Government has been delegated to the Regional Director, Joint Director, Deputy Director or Assistant Director posted in the office of Regional Directors at Noida, Uttar Pradesh vide notification dated 21st May, 2014 in respect of section 153 and 154 of the Companies Act, 2013.  … Read More

Fast Track Exit (FTE) Scheme for LLP

FAST TRACK EXIT (FTE) SCHEME FOR LLP     APPLICATION BY LLP FOR STRIKE OFF ITS NAME FROM THE REGISTER OF LLP   [Rule 37 of the Limited Liability Partnership Rules, 2009]     Where a limited liability partnership (LLP) is not carrying on any business or operation since incorporation or for a period of… Read More

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