Subsidiary | Corporate Law Reporter

Clarification with regard to Section 185 of the Companies Act, 2013

General Circular No 03/2014 No.01/12/2013-CL.V Government of India Ministry of Corporate Affairs 5th Floor,™ A' Wing, Shastri Bhawan, Dr. R.P. Road, New Delhi-110001. Dated: 14/2/2014 To All Regional Directors, All Registrar of companies, All Stakeholders. Subject: Clarification with regard to Section 185 of the Companies Act, 2013. Sir, 1. This Ministry has received number of… Read More

Tags: Companies Act, Companies Act 1956, Holding company, Loan, New Delhi, Registrar of Companies, Section 372A of the Companies Act, Subsidiary

RBI releases Framework for setting up of Wholly Owned Subsidiaries by Foreign Banks in India

The Reserve Bank of India (RBI) today released on its website, the framework for setting up of Wholly Owned Subsidiaries (WOS) by foreign banks in India. The policy is released in pursuance of the announcement made in the Second Quarter Review of Monetary Policy 2013-14 (para 26 - See below). The policy is guided by the… Read More

Tags: Banking in India, foreign direct investment, India, Reserve Bank, Reserve Bank of India, Run batted in, Subsidiary, WOS

Companies Act, 2013 Important provisions which have become effective from 12th September, 2013

Companies Act, 2013 Important provisions which have become effective from 12th September, 2013 The Ministry of Corporate Affairs has notified 12th Septmber, 2013 as effective date for 98 sections of the Companies Act, 2013 (hereinafter referred as ˜the Act™) vide its notification dated 12th September, 2013. Certain important provisions (which have become effective) are briefly… Read More

Tags: Companies Act, CompanySecretary, Corporate Affairs Ministry, Financial services, Fixed Deposit, Income tax, Privately held company, Public company, Subsidiary

Commencement Notification CA2013 :: Section 194 :: Prohibition on forward dealings in securities of company by a key managerial personnel

Chapter XII -Meetings of Board and its Powers (173 - 195) Section 194- Prohibition on forward dealings in securities of company by a key managerial personnel (1) No director of a company or any of its key managerial personnel shall buy in the company, or in its holding, subsidiary or associate company” (a) a right… Read More

Tags: Board of directors, Chief financial officer, Debenture, FeedBurner, Management, Security (finance), Shares, Subsidiary

Commencement Notification CA2013 :: Section 192 :: Restriction on non-cash transactions involving directors.

Chapter XII -Meetings of Board and its Powers (173 - 195) Section 192- Restriction on non-cash transactions involving directors (1) No company shall enter into an arrangement by which ” (a) a director of the company or its holding, subsidiary or associate company or a person connected with him acquires or is to acquire assets… Read More

Tags: Annual General Meeting, Board of directors, Companies Act, Debenture, FeedBurner, Holding company, Security (finance), Shares, Site of Special Scientific Interest, Subsidiary

Commencement Notification CA2013 :: Notified Sections 19,20,21

Commencement Notification Of Companies Act 2013 :: 98 Sections Notified Chapter II -Incorporation of Company and Matters Incidental Thereto (Sections 3 - 22) Notified Section 19- Subsidiary company not to hold shares in its holding company (1) No company shall, either by itself or through its nominees, hold any shares in its holding company and no… Read More

Tags: Board, Business, Companies Act, Corporate law, Holding company, India, Notification Of Companies Act 2013, Subsidiary

CLR Flash :: Commencement Notification Of Companies Act 2013 :: 98 Sections Notified

The Ministry of Corporate Affairs, has notified 98 sections of the Companies Act 2013 (18 of 2013) by way of a notification dated 12th September 2013. All these sections will now come into immediate effect from 12th September 2013. The professional must now read both the Companies Act viz. 1956 and 2013 together, in order to… Read More

Tags: 12th September 2013, Central Government, Chapter VII of the United Nations Charter, Companies Act, Companies Act 2013, Corporate Affairs Ministry, Corporate law, Government of India, Legal liability, Public Offer, Red herring prospectus, September 2013, Share capital, Shelf registration, Subsidiary

RBI Amendment w.r.t. Overseas Direct Investment

RBI/2013-14/241 A.P. (DIR Series) Circular No. 41 September 10, 2013 To All Category - I Authorised Dealer Banks Madam/ Sir, Overseas Direct Investment Amendment Attention of the Authorised Dealer (AD - Category I) banks is invited to para 2(iv)(b) of A. P. (DIR Series) Circular No. 69 dated May 27, 2011 on Overseas Direct Investment Liberalization /… Read More

Tags: Anno Domini, Categories of New Testament manuscripts, Foreign Exchange Management Act, General manager, India, Indian Party, Reserve Bank of India, Subsidiary

Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Fifth Amendment) Regulations, 2013

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION NO. 283/2013-RB Mumbai, the 14th August, 2013 Foreign Exchange Management (Transfer or Issue of any Foreign Security) (Fifth Amendment) Regulations, 2013 G.S.R. 552(E).”In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6 and subsection (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42… Read More

Tags: External Commercial Borrowing, Federal Emergency Management Agency, Foreign Exchange Management Act, India, Indian, Reserve Bank, Reserve Bank of India, Subsidiary

Liberalised Remittance Scheme for Resident Individuals- Reduction of limit from USD 200,000 to USD 75,000

RBI/2013-14/181 A. P. (DIR Series) Circular No.24 August 14, 2013 To All Category-I Authorised Dealer Banks Madam / Sir, Liberalised Remittance Scheme for Resident Individuals- Reduction of limit from USD 200,000 to USD 75,000 Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the guidelines regarding the Liberalised Remittance… Read More

Tags: Anno Domini, April-March, Categories of New Testament manuscripts, Foreign Exchange Management Act, India, Joint venture, Subsidiary, USD

Survey on Foreign Collaboration in Indian Industry: 2007- 2010

The Reserve Bank of India today released, on its website, the data related to the results of the Survey on Foreign Collaboration in Indian Industry: 2007-2010. The survey captures comprehensive information relating to the nature, pattern, and operations of Indian companies having technical collaboration with foreign companies valid during the period April 2007 to March 2010 or part… Read More

Tags: Export, foreign direct investment, India, Japan, List of companies of India, Reserve Bank of India, Subsidiary, United States

Master Circular on Direct Investment by Residents in Joint Venture (JV) /Wholly Owned Subsidiary (WOS) Abroad

RBI/2013-14/11 Master Circular No.11/2013-14 July 01, 2013 To, All Authorised Dealer Category - I banks Madam / Sir, Master Circular on Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad Direct investments by residents in Joint Venture (JV) and Wholly Owned Subsidiary (WOS) abroad are being allowed, in terms of… Read More

Tags: Business, Espoo, Foreign Exchange Management Act, Joint venture, Master Circulars 1st July 2013, Nokia, Nokia Siemens Network, Siemens, Subsidiary

Definition of Related Party – A Comparative Analysis

Related party relationships are a normal feature of commerce and business. For example, entities frequently carry on parts of their activities through subsidiaries, joint ventures and associates. In those circumstances, the entity has the ability to affect the financial and operating policies of the investee through the presence of control, joint control or significant influence.… Read More

Tags: Board of directors, Business, Companies Act 1956, Hindu Undivided Family, Income Tax Act, Income Tax Act 1961, India, Joint venture, Subsidiary, transfer pricing