United States | Corporate Law Reporter

REVERSE PIERCING OF CORPORATE VEIL: AN UNEMPLOYED PHENOMENON IN INDIA

Abstract The foundation of corporate governance rests on the principle that a company is a separate legal entity, distinct from its members and its shareholders offering them financial protection. Gradually, Courts realized that this ensured limited liability of individuals is often abused to achieve their selfish goals. The necessary ascent of an equitable doctrine of… Read More

Tags: Companies Act, India, Law, United States

Two-Tier Boards in Indian Corporations? An analysis

Corporate governance practices are in a continuous state of evolution, particularly in a developing economy such as India. It is argued that corporate governance practices in India are an imperfect emulation of western practices, particularly of the Cadbury Committee Report, and subsequently, the UK Corporate Governance Code and the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley).… Read More

Tags: ENRON, India, Ruth Bader Ginsburg, Sarbanes-Oxley, Sarbanesâ€“Oxley Act, Supreme Court of the United States, UK Corporate Governance Code, United States

Note on New Procedure in Maharashtra for CST Forms

Sales Tax Department has changed the procedure for application of Declaration Forms w.e.f 01.02.2014 vide Circular No.4T of 2014 From M B Abhyankar mbabhyankar@gmail.com Existing Procedure for online applications upto 31.01.2014 Upto 31.01.14, the e-application form was simple and the dealer had to provide basic information such as TIN no. and Name of the dealer… Read More

Tags: Accounting, Business, Constitutional right, CST, Invoice, Sales tax, Tax, United States

Survey of India™s Foreign Liabilities and Assets for the Mutual Fund Companies 2012-13

The Reserve Bank of India today released, on its website, the datarelated to the results of Survey of India's Foreign Liabilities and Assets for the Mutual Fund Companies 2012-13. The data compiled are based on annual survey on India's foreign liabilities and assets (FLA) of the mutual fund companies (MFs) and Asset Management Companies (AMCs)… Read More

Tags: Hong Kong, India, March 2012, March 2013, Mutual fund, Reserve Bank of India, United Arab Emirates, United States

Indian Banking: the New Landscape

- Keynote address by Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India, at the Mint™s Annual Banking Conference, 2014 in Mumbai on January 31, 2014 Sukumar and Tamal, thank you very much, for this invite. I am happy to note that you and your paper- the Mint, have been focussing on the process of change… Read More

Tags: Banking in India, Basel III, Citibank-India, India, Mumbai, Reserve Bank of India, State Bank of India, United States

Conference : Corporate Landscape – Recent Developments and Perspective

Achromic Point Presents Corporate Landscape - Recent Developments and Perspective - Mumbai 21st February 2014 Dear Industry Colleague, Greetings from Achromic Point We would like to take this opportunity to inform and invite you to our upcoming seminar "Corporate Landscape - Recent Developments and Perspectivewith our knowledge partner MPC Legal in Mumbai on 21st February 2014. The seminar aims… Read More

Tags: chartered accountant, Corporate law, Corporation, Income tax, India, Law, Mumbai, United States

SEBI First International Research Conference-2014

Securities and Exchange Board of India (SEBI), in its silver jubilee year, is organizing its First International Research Conference during January 27-28, 2014 in Mumbai. The theme of the Conference is HFT, Algo Trading and Co-location. SEBI has invited academicians/market practitioners/regulators, having experience in the field, from countries such as USA, Spain, Australia, Canada, Japan,… Read More

Tags: Business, canada, India, Investing, Mumbai, SEBI, Securities & Exchange Board of India, United States

The Expert Committee to Revise and Strengthen the Monetary Policy Framework Submits its Report

On September 12, 2013, Dr. Raghuram G Rajan, Governor had appointed an Expert Committee to revise and strengthen the monetary policy framework. The Committee submitted its report to the Governor today. Ajit Prasad Assistant General Manager Press Release : 2013-2014/1459 Report attached for download. Report of the Expert Committee to Revise and Strengthen the Monetary… Read More

Tags: Central bank, China, Committee, Federal Reserve System, finance, Monetary policy, Money supply, United States

Corporate Criminal Liability – An Indian Perspective

A. INTRODUCTION CONCEPT & RATIONALE OF CRIMINAL LIABILITY OF CORPORATION Corporate bodies are more corrupt and profligate than individuals, because they have more power to do mischief, and are less amenable to disgrace or punishment. They neither feel shame, remorse, gratitude nor goodwill Hazlitt. [1] The evolution of the concept of criminal liability of corporations is… Read More

Tags: Corporation, criminal law, India, Law, Legal liability, Legal personality, Supreme Court of India, United States

Deferred Tax Liability on Special Reserve created under Section 36(1) (viii) of the Income Tax Act, 1961

RBI/2013-14/412 DBOD. No.BP.BC.77/21.04.018/2013-14 December 20, 2013 The Chairmen and Managing Directors / Chief Executive Officers of all Commercial Banks (excluding Regional Rural Banks) Dear Sir, Deferred Tax Liability on Special Reserve created under Section 36(1) (viii) of the Income Tax Act, 1961 Please refer to our mailbox clarification dated November 6, 2009 with respect to… Read More

Tags: Banks, Government of India, Income tax, Income Tax Act, Income Tax Act 1961, India, Karnataka High Court, United States

The State Capitalism

By: Om Prakash Dani, Member Executive Committee, Sri Aurobindo Society, Puducherry & Vice Chairman, Sri Aurobindo Foundation for Integral Management, Past President, The Institute of Company Secretaries of India and M. S. Srinivasan, Research Associate, Sri Aurobindo Society, Puducherry A new Avatar of capitalism has emerged in the horizon. Recently, the well-known British magazine, Economist, brought… Read More

Tags: China, Dharma, India, Institute of Company Secretaries of India, Puducherry, Sri Aurobindo, State capitalism, United States

United Nations Handbook on Selected Issues in Administration of Double Tax Treaties for Developing Countries

Excerpt from the Document..... Preface Over the past decade, the relationship between the mobilization of financial resources for development and international tax cooperation featured prominently in the outcome documents of major United Nations conferences and summits on economic and social matters. These include the 2002 Monterrey Consensus, the 2008 Doha Declaration on Financing for Development, as well as the outcomes… Read More

Tags: canada, Cooperation, Doha Declaration, International taxation, Tax, Tax treaty, Treaty, United States

SEBI clarification on Investments by FIIs/QFIs in Credit Enhanced Bonds

CIRCULAR CIR/IMD/FIIC/ 19 /2013 November 28, 2013 To All Foreign Institutional Investors through their designated Custodians of Securities The Managing Directors NSDL and CDSL Sir / Madam, Sub: Investments by FIIs/QFIs in Credit Enhanced Bonds On September 10, 2012, Government of India decided to permit Foreign Institutional Investors (FIIs) to invest in Credit Enhanced INR… Read More

Tags: $51 billion, Corporate bond, Government of India, India, Institutional investor, Reserve Bank of India, Run batted in, United States