Company Law - Corporate Law Reporter

CLR Urgent :: MCA extends Last date of filling various forms to 15 April 2013

Circular No:08/2013 No. 17/187/2011-CL-V Dated: 10/04/2013 Government of India Ministry of Corporate Affairs, 5th Floor, "A" Wing, Shastri Bhawan, Dr. R.P. Road, New Delhi-110001 To, All the Regional Directors, All the Registrar of Companies, All Official Liquidators, All Stakeholders. Sub: - Relaxation of additional fees and extension of last date in filing of various forms with the… Read More

MCA Directs Distribution of Monies realized from Assets of Defunct Companies

Shri Sachin Pilot Directs Expeditious Distribution of Rs 3,270 Crore, Realized from the Assets of Defunct Companies, to Claimants Corporate Affairs Minister ShRI Sachin Pilot took a meeting of the Official Liquidators (OLs) attached with different High Courts here yesterday to take stock of their work relating to dissolution and winding up of companies. It… Read More

Resignation of Director™ – A Controversy

Himanshu Setia, 3rd year student, Symbisois Law School, Noida (Constituent of Symbiosis International University, Pune) Email id- (himanshusetiaO125@rediffmail.com) ˜Resignation of Director™ - A Controversy[1] INTRODUCTION The Companies Act, 1956 (hereinafter referred to as ˜Act™) does not contain any provision relating to resignation of director. The word ˜resignation™ means ˜relinquishment of ones right™. As such there… Read More

Consolidated FDI Policy – New Guidelines Released

The government is seeking to further simplify the foreign investment regime, by releasing a revised consolidated FDI policy guidelines. The changes include investments in sectors like single and multi-brand retail, power exchanges, asset reconstruction companies (ARCs), broadcasting, civil aviation, and non-banking financial companies (NBFCs). Changes in the Consolidated FDI Policy Guidelines Allows upto 51% inflows… Read More

Corporate Governance Conference in Delhi

Companies Need to Look Beyond Shareholder Value And Make Sustainability a Core Driver of their Strategy Sachin Pilot Corporate Affairs Minister Inaugurates ˜CSIA International Corporate Governance Conference™ Shri Sachin Pilot, Minister of Corporate Affairs, inaugurated the two-day 2nd CSIA (Corporate Secretaries International Association) International Corporate Governance Conference on the theme ˜Corporate Governance for Sustaining Prosperity… Read More

Combination Regulations amended by the CCI

Competition Commission of India - Amendments to the Combination Regulations The Competition Commission of India (CCI) has amended the Combination Regulations with a view to further simplify the filing requirements and bring about greater certainty in the application of the Act and the Regulations. The provisions of the Competition Act, 2002 (Act) relating to regulation… Read More

2nd CSIA International Corporate Governance Conference, New Delhi, April 5-6, 2013

Dear Sir/Madam, We are pleased to inform that the Institute of Company Secretaries of India (ICSI) is hosting on behalf of CSIA the 2nd CSIA International Corporate Governance Conference in New Delhi, India on April 5-6, 2013 on the theme Corporate Governance for Sustaining Prosperity and Posterity. The following are the sub-themes: · Responsible Investment… Read More

ICAI seeks volunteers for GAAP audits under CSR initiatives of MCA

Strategic Priorities of the ICAI (Institute of Chartered Accountants of India) Based on the Corporate Social Responsibility initiative of the Ministry of Corporate Affairs, the Institute of Chartered Accountants of India (ICAI), has decided that through its dedicated network at the Regional and Branch level centers, it will seek volunteers from amongst its eligible members… Read More

FII Debt Limits Rationalisation – SEBI Simplifies Framework

CIRCULAR CIR/IMD/FIIC/6/2013 April 1, 2013 To All Foreign Institutional Investors Through their designated Custodians of Securities Dear Sir/Madam Sub: Rationalisation of Debt Limits 1. The Government of India has issued a Press Release dated March 23, 2013 wherein, inter alia, the following measures have been proposed to simplify the framework of FII debt limits :… Read More

Amendment to SEBI (Know Your Client) Registration Agency Regulations

CIRCULAR CIR/MIRSD/ 4 /2013 March 28, 2013 1. KYC Registration Agencies (KRAs), 2. Stock Brokers through Stock Exchanges, 3. Depository Participants (DPs) through Depositories, 4. Mutual Funds (MFs) through Association of Mutual Funds in India (AMFI) 5. Portfolio Managers (PMs) 6. Alternative Investment Funds (AIFs) 7. Collective Investment Schemes (CIS), Dear Sirs, Sub: Amendment to… Read More

Corporation Criminal Liability – An Indian Perspective

Criminal Liability of Corporation: An Indian Perspective Manjeet Kumar Sahu Abstract Current Supreme Court™s decision have made the stand apparently clear in India that the Corporation can be prosecuted as a separate legal entity even in the offences where the punishment is imprisonment. This Article explains the present status of India on Corporate Criminal Liability… Read More

Clarifications on Gold Deposit Scheme

CIRCULAR DBOD. No. IBD.BC.81/23.67.001/2012-13 Dated 14/02/2013 The Central Government, with a view to bringing privately held stock of gold in circulation, reduce the country's reliance on import of gold and providing its owners with some income apart from freeing them from the problems of storage, movement and security of gold in their possession, had notified… Read More

SEBI Circular on Usage of electronic payment modes for making cash payments to the investors

CIRCULAR CIR/MRD/DP/10/2013 March 21, 2013 To, All Companies whose securities are listed on Stock Exchanges (through Stock Exchanges); All Registrars to an Issue and Share Transfer Agents (RTI & STA); All Depositories; All Stock Exchanges. Dear Sir / Madam, Sub: Usage of electronic payment modes for making cash payments to the investors 1. Please refer… Read More