The Companies Act 1956

Sections 433(e) and 434 – Exercising winding up not possible if disputes between parties pending

CLR Editorial Notes: In the current case, the petitioner had three separate contracts entered into between tw0 parties. One of the said contracts was for the supply of cables and the other two contracts were for the supply of electrical accessories, i.e., Jumpers, Connectors and Surge Arrestors. Prior to this contract, both the parties had been… Read More

Tags: ChinaGuangdongMemorandum of understandingPetitionerThe Companies Act 1956ZhuhaiZhuhai Hansen Technology Co

Action Taken in Cases of Corporate Frauds

From the years 2009-10 to 2013-14 (till date), 132 cases of fraud/ illegal transaction have been brought to the notice of the Ministry of Corporate Affairs.  Giving this information in written reply to a question in the Rajya Sabha today Shri SachinPilot, Minister of Corporate Affairs, gave details of the action taken in respect of these cases as follows: (i)    In 89… Read More

Tags: Collective investment schemeCorporate Affairs MinistryFraudSecurities and Exchange Board of IndiaSerious Fraud Investigation OfficeSFIOThe Companies Act 1956

Penal Action Against Fraudulent Companies

Sachin Pilot, Minister for Coroporate Affairs During last five years i.e. from 2008-09 to 2012-13 a total of 782 inspection reports in respect of companies were received in the Ministry of Corporate Affairs. Based on the findings in the inspection reports, penal actions have been taken against the companies and their directors/officers in default for… Read More

Tags: Balance sheetCompanies ActCorporate Affairs MinistryMarket ResearchRajya SabhaSachin PilotThe Companies Act 1956xbrl

MCA – Companies (Acceptance of Deposits Amendment) Rules, 2013

[TO BE PUBLISI-IED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART - II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, Dated, 21st March, 2013 G.S.R. read with section (E). - In exercise of the powers conferred by section 58A  642 of the Companies Act, 1956 (1   of 1956), the… Read More

Tags: Central GovernmentGazette of IndiaGovernment of IndiaIndiaNew DelhiOfficial GazetteReserve Bank of IndiaThe Companies Act 1956

Listing And Delisting Of Securities In India: An Analysis

1.       Introduction Companies require huge investments for start ups. Among the many choices that they have, they often resort to calling for investments in their organization from the public. This is done by issuing securities to the investor. The investor thus has a stake in the capital of the company. A share is merely a… Read More

Tags: 1957Board of directorsCompanies ActdelistingIndialistingListing (finance)Listing contractRegulationSEBISecurities & Exchange Board of IndiaSecurities Contracts (Regulation) RulesSecurity (finance)StockThe Companies Act 1956

U/s 73(1) of the Companies Act, organizations have to make an application for SE listing before issuing OFCDs

CLR Editorial Notes: This refers to the OFCD subscription offer made by Sahara Group and the subsequent litigation by SEBI in lieu of non-compliance and intentional bypass of SEBI Guidelines. The Sahara Companies, issued that the invitation/offer to subscribe to the OFCDs 3 crore persons (expressed as 30 million persons by the SAT), through 10 lakh… Read More

Tags: Companies ActIndiaRegistrar of CompaniesSahara CaseSahara India PariwarSEBISecurities & Exchange Board of IndiaSupreme CourtThe Companies Act 1956

Concept of Private Listed Company

Well any literate will take the above title as contradictory and absurd as there can be no such company which is privately held and still a publicly traded company. I want to assure our readers that the title is not my creativity, but what is proposed by Companies Bill, 2012 (herein after referred as Bill).… Read More

Tags: BillCompanies ActIndiaMaxima and minimaPrivately held companyPublic companySaharaSecurities & Exchange Board of IndiaStock exchangeThe Companies Act 1956

Importance of Prospectus as a Tool for Investor Protection in India

INTRODUCTION The definition of ˜prospectus™ in the Indian Companies Act, 1956 (the Act) was based on the definition found in the English Companies Act [Section 455(1)].[1] It then underwent amendment in 1960 following the recommendation of the Companies Act Amendment Committee of 1957 and also in 1974.[2] The current definition as per Section 2(36) stands… Read More

Tags: canadaCompanies ActDebentureNew BrunswickProspectus (finance)Public companySecurities & Exchange Board of IndiaThe Companies Act 1956

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