Public Company | Corporate Law Reporter

Commencement Notification CA2013 :: Notified Sections 161, 162, 163

Chapter XI -Appointment and Qualifications of Directors (149 - 172) Section 161- Appointment of additional director, alternate director and nominee director (1) The articles of a company may confer on its Board of Directors the power to appoint any person, other than a person who fails to get appointed as a director in a general… Read More

Tags: Alternate director, Annual General Meeting, Board of directors, Central Government, India, Proportional representation, Public company, Single transferable vote

Commencement Notification CA2013 :: Notified Sections 58 to 70

Chapter IV -Share Capital and Debentures (Sections 43 - 72) Section 58- Refusal of registration and appeal against refusal (1) If a private company limited by shares refuses, whether in pursuance of any power of the company under its articles or otherwise, to register the transfer of, or the transmission by operation of law of the… Read More

Tags: Central Government, Companies Act, Debenture, India, Notification Of Companies Act 2013, Private company limited by shares, Public company, Security (finance)

Commencement Notification CA2013 :: Notified Sections 29,30,31

Commencement Notification Of Companies Act 2013 :: 98 Sections Notified Chapter III -Prospectus and Allotment of Securities (Sections 23 - 42) Section 29- Public offer of securities to be in dematerialised form. (1) Notwithstanding anything contained in any other provisions of this Act,- (a) every company making public offer; and (b) such other class or classes… Read More

Tags: Companies Act, Depositories Act, Prospectus, Public company, Public Offer, Registrars, Security (finance), Shelf registration

Commencement Notification CA2013 :: Notified Sections 23,24,25

Commencement Notification Of Companies Act 2013 :: 98 Sections Notified Chapter III -Prospectus and Allotment of Securities (Sections 23 - 42) Section 23- Public offer and private placement except clause (b) of sub-section (1) and sub-section (2) (1) A public company may issue securities” (a) to public through prospectus (herein referred to as "public offer") by complying… Read More

Tags: Bonus share, Central Government, Companies Act, India, Private placement, Public company, Securities & Exchange Board of India, Security (finance)

Download draft rules (1st phase) under Companies Act 2013

The Companies Act, 2013: Draft Rules made Public for Comments/Suggestions Module for receiving Suggestions and Comments has been placed on the MCA website The Draft Rules for following Chapters under the Companies Act, 2013 is made live for public comments in 1st phase. The last date of receiving comments on these Rules is 08 October 2013: Chapter I - Preliminary Chapter II - Incorporation of Company and Matters Incidental Thereto Chapter VI - Registration of Charges Chapter VIII - Declaration and Payment of Dividend Chapter IX - Accounts of Companies Chapter X - Audit and Auditors Chapter XI - Appointment and Qualification of Directors Chapter XII - Meeting of Board and its Powers Chapter XVI - Prevention of Oppression and Mismanagement Chapter… Read More

Tags: Companies Act, Companies Act 1956, Corporate Affairs Ministry, India, Law, MCA, Public company

Revision of Clause 41 of Equity Listing Agreement

Discussion Paper on "Revision of Clause 41 of Equity Listing Agreement" Background: 1. Clause-41 of Equity Listing Agreement provides the framework for preparation, authentication and submission of Financial Results by listed companies. 2. Though sub-clauses of Clause-41 have been regularly updated as and when the need arose, revision of entire Clause-41 is proposed to be undertaken… Read More

Tags: Accounting, Business, Companies Act 1956, Equity Listing Agreement, Financial Results, Financial services, Public company, Sachin Pilot

Measures to Check the Incidents of Vanishing Companies

Presently, there are 87 companies falling under the category, Vanishing Companies. Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that the FIRs have been lodged against all 87 companies and their Directors to trace their whereabouts and also to take action under… Read More

Tags: Companies Act, Corporate Affairs Ministry, Indian Penal Code, Lok Sabha, Ministry, Public company, Sachin Pilot, The Companies Act 1956

SEBI Issues a Discussion Paper on “Revision of Clause-41 of Equity Listing Agreement”

SEBI has, today, placed a discussion paper on "Revision of Clause 41 of Equity Listing Agreement", for public comments. Clause-41 of Equity Listing Agreement provides the framework for preparation, authentication and submission of Financial Results by listed companies. Based on the requests/ suggestions/ recommendations received from various market participants, some of the provisions of Clause-41 have… Read More

Tags: Asia, Business, Government, India, Mumbai, Public company, SEBI, Securities & Exchange Board of India

Share Sale to Employees of CPSEs Post-OFS

In the recent past, Government has undertaken a number of transactions through Offer for Sale of Shares by Promoters through Stock Exchanges Mechanism (OFS). To incentivize the employees of such CPSEs, Government decided to also offer sum shares to them on successful completion of the OFS. The shares are to be offered at a discount of… Read More

Tags: CPSE, Government, Programming, Public company, Scheme, SEBI, Securities & Exchange Board of India, Stock exchange

DTAA with Monaco

NOTIFICATION NO. 43/2013 DATED 12/06/2013 SO 924(E) - Whereas an Agreement (hereinafter referred to as the said Agreement) between the Government of the Republic of India and the Government of the Principality of Monaco for the exchange of information relating to tax matters was signed at Monaco on the 31st day of July, 2012 ; And… Read More

Tags: Business and Economy, Collective investment scheme, Contract, India, Monaco, Public company, Ronaldo, Securities & Exchange Board of India

Foreign investment in India by SEBI registered Long term investors in Government dated Securities

RBI/2012-13/530 A.P. (DIR Series) Circular No.111 June 12 , 2013 To All Category I Authorised Dealer Banks Madam / Sir, Foreign investment in India by SEBI registered Long term investors in Government dated Securities Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue… Read More

Tags: Financial services, Foreign Exchange Management Act, India, Institutional investor, Public company, SEBI, Securities & Exchange Board of India, Security (finance)

Interim Order in the matter of Non-Compliance of the requirement of Minimum Public Shareholding by the Listed Companies in Private Sector

The Securities Contracts (Regulation) Rules, 1957 were amended in 2010 to provide for minimum and continuous public shareholding requirement in listed companies in private sector at 25%. In terms of these Rules, all listed companies have to comply with the said requirement by June 03, 2013. This was done with a view that a dispersed… Read More

Tags: Maxima and minima, Public company, Regulation, Requirement, SEBI, Securities & Exchange Board of India, Shareholder, Stock exchange

SEBI Clarification: “Manner of Dealing with Audit Reports filed by Listed Companies”

CIRCULAR CIR/CFD/DIL/9/2013 June 5, 2013 To, All the Stock Exchanges Dear Madam / Sir, Sub.: Clarification on SEBI's Circular dated August 13, 2012 providing for the "Manner of Dealing with Audit Reports filed by Listed Companies" 1. SEBI has, vide circular dated August 13, 2012 providing for the "Manner of Dealing with Audit Reports filed… Read More

Tags: Annual Report, Audit Report, finance, Public company, SEBI, Securities & Exchange Board of India, Securities and Exchange Board of India Act 1992, Stock exchange