Company Law - Corporate Law Reporter

SEBI Circular – Companies eligible for shifting from TFTS to Normal Rolling Settlement

CIRCULAR CIR/MRD/DP/ 19 /2013 June 11, 2013 To, All Stock Exchanges Dear Sir / Madam, Sub: Establishment of Connectivity with both depositories NSDL and CDSL Companies eligible for shifting from Trade for Trade Settlement (TFTS) to Normal Rolling Settlement 1. It is observed from the information provided by the depositories that the companies listed in Annexure… Read More

Lifting of Corporate Veil with reference to Leading Cases

COMPANY LAW LIFTING OF CORPORATE VEIL WITH REFERENCE TO LEADING CASE Shagun Singh 15.04.2013 NATIONAL UNIVERSITY OF RESEARCH AND STUDY IN LAW 2013 INTRODUCTION Corporate personality has been described as the ˜most pervading of the fundamental principles of company law[1]. It constitutes the bedrock principle upon which company is regarded as an entity distinct from… Read More

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

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

CLR Snippets | MOU Signed Between Competition Commission of India and Australian Competition and Consumer Commission

Competition Commission of India (CCI) and Australian Competition and Consumer Commission (ACCC) signed a Memorandum of Understanding (MOU) on Cooperation at Canberra, Australia. The MOU was signed by Mr. Ashok Chawla, Chairperson, CCI and Mr. Rod Sims, Chairman, ACCC on 3rd June,2013. The signing took place in the presence of Mr. Sachin Pilot, Hon™ble State… Read More

Assocham Seminar on Due Diligence – An update

The Assocham Seminar on Due Diligence - Key to Successful Business Deals - is being organized by ASSOCHAM India on Friday, 7th June, 2013, Hotel Le-Meridian, New Delhi. The Seminar aims To address the many aspects & emerging issues related to Due Diligence process, ASSOCHAM is delighted to bring to you a one-day National Seminar on Due… Read More

MCA Notification – Power of ROCs to obtain declaration/ affidavits from subscribers/first directors at the time of incorporation

Circular No: 11/2013 File No. 17/118/2012 CL V Government of India Ministry of Corporate Affairs 5th Floor, Shastri Bhawan Rajendra Prasad Road New Delhi 110001 Dated: 29th May, 2013 To All Regional Directors All Registrar of Companies Sub: Power of ROCs to obtain declaration/ affidavits from subscribers/first directors at the time of incorporation. Sir, The matter of… Read More

SEBI (Investment Advisers) Regulations, 2013

The SEBI (Investment Advisers) Regulations, 2013 (IA Regulations) were notified on January 21, 2013 and have come into effect from April 21, 2013. The IA Regulations are available on the SEBI website www.sebi.gov.in In terms of the IA Regulations, no person shall act as an investment adviser or hold itself out as an investment adviser unless… Read More

CLR Snippets | SEBI initiates process of refund to the genuine investors in the matter of Sahara

As per the order of the Hon'ble Supreme Court dated May 8, 2013, SEBI has initiated the process of refund to the genuine investors who have submitted /would be submitting their claims, in the format (available at website www.sebi.gov.in), after verifying the genuineness of the documents . The order of the Hon'ble Supreme Court dated May 8, 2013… Read More

Prime Minister™s Speech at SEBI™s Silver Jubilee Celebration

Following is the text of the Prime Minister, Dr. Manmohan Singh™s speech at the SEBI™s Silver Jubilee Celebration in Mumbai today: "I am truly delighted to participate in SEBI™s Silver Jubilee celebrations. I share a very special bond with SEBI because I was the Finance Minister of India when it became a statutory body. I… Read More

SEBI Broad guidelines on Algorithmic Trading

CIRCULAR CIR/MRD/DP/ 16 /2013 May 21, 2013 To, All Stock Exchanges. Dear Sir / Madam, Subject: Broad guidelines on Algorithmic Trading 1. Please refer to SEBI Circular No.CIR/MRD/DP/09/2012 dated March 30, 2012 on ˜Broad guidelines on Algorithmic Trading™. 2. SEBI has received various suggestions with regard to the requirement of system audit of trading algorithm… Read More

SEBI Clarification on Scheme of Arrangement under the Companies Act, 1956

CIRCULAR CIR/CFD/DIL/8/2013 Date: May 21, 2013 To The Stock Exchanges Dear Madam / Sir, Sub: Scheme of Arrangement under the Companies Act, 1956 Revised requirements for the Stock Exchanges and Listed Companies - Clarification 1. This is with reference to SEBI Circular No. CIR/CFD/DIL/5/2013 dated February 4, 2013 on the captioned subject. 2. Subsequent to… Read More

FM Speak :: Competition Commission to play an important role as regulator of Competition and as a participant in the competitive process

Union Finance Minister Shri P.Chidambaram has stressed on the key role of Competition Commission of India (CCI) in defining the role of the government as a regulator of competition and as a participant in the competitive process. Delivering the Annual day Lecture of Competition Commission of India (CCI) in the Capital on 20th May, 2013,… Read More