Company Law - Corporate Law Reporter

Govt. cautious in allowing FDIs in LLP format

The government has taken a cautious approach towards allowing FDI in the hitherto untried LLP format of business, mostly preferred by professionals, experts said today. The government has allowed FDI in Limited Liability Partnership (LLPs) only in sectors where 100 per cent FDI is allowed under the automatic route. But still government approval is must… Read More

Government Permits FDI in LLP Firms

The Government of India has reviewed the extant policy on FDI and decided to permit FDI in LLP firms, subject to specified conditions. Accordingly, the following changes are made in ˜Circular 1 of 2011-Consolidated FDI Policy™, which became effective from April 1, 2011: (A) Insertion of a new paragraph (2.1.41): A new paragraph (2.1.41) is… Read More

MCA 21 site relaunched with a New Look

The Minsitry of Corporate Affairs (MCA) site http://mca.gov.in/MCA21/ has been relaunched today with a new look and feel which is much more cleaner & colorful. The Minstry has been keeping vibrant these days with the Green initiatives and this seems to be a feather in the cap. Good Job MCA. … Read More

MCA hopes better future with its Green Initiatives in Corporate Governance

In order to save trees and environment by cutting down the consumption of costly paper habits, the Ministry of Corporate Affairs has taken a Green Initiative in the Corporate Governance by allowing paperless compliances by the companies under the provisions of the Companies Act, 1956. Gving details of the initiatives to the media persons here… Read More

Debate is on on the proposed Open Offer Limit in the new Takeover code

In order to bring down the cost of acquisition, the Finance Ministry is likely to peg the open offer limit to 50-75 per cent as against 100 per cent recommended by the Sebi panel on the new Takeover Code. "In regard to 100 per cent open offer (as recommended by Achuthan panel), more or less… Read More

New Rules to regulate Stock Exchanges soon : Consultations Begin

The government will begin tomorrow its consultations with various stakeholders regarding a new set of rules on how stock exchanges should be owned and run, proposed by a Sebi-appointed committee last year. Besides the exchanges, new ownership and governance rules have also been proposed by the committee, chaired by former RBI Governor Bimal Jalan, for… Read More

Mergers within the same group should be exempted from CCI norms: CII

Industry body CII today said competition watchdog CCI's approval should not be made mandatory for mergers and amalgamations between group companies. "While acquisitions of control or shares or voting rights or assets within the same group have been exempted from the notification requirement, mergers or amalgamations have not been specified, which appears to be an… Read More

Participation by directors in meetings of Board / Committee of directors under the Companies Act, 1956 through electronic mode.

General Circular No. 28/2011, Dated: 20.05.2011 Subject: Green Initiative in the Corporate Governance Participation by directors in meetings of Board / Committee of directors under the Companies Act, 1956 through electronic mode. Sir, The Ministry of Corporate Affairs has taken a Green Initiative in the Corporate Governance by allowing paperless compliances by the Companies after… Read More

Participation by Shareholders in General Meetings under the Companies Act, 1956 through electronic mode

General Circular No. 27/2011, Dated: 20.05.2011All the Regional Directors,All the Registrar of Companies Subject: Green Initiative in the Corporate Governance Participation byshareholders In general meetings under the Companies Act, 1956 through electronic mode. Sir, The Ministry of Corporate Affairs has taken a Green Initiative in the Corporate Governance by allowing paperless compliance™s by the Companies… Read More

ROC to issues all cetificates under Digital Signatures

Issue of Certificate by Digital Signature- MCA Gen. Circular No. 29/2011; Dated 20.05.2011 All the Regional Directors ;All the Registrar of Companies Sub: Green Initiative in the Corporate Governance Issue of Certificate by Digital Signature The Ministry of Corporate Affairs has taken a Green Initiative in the Corporate Governance by allowing paperless compliances by the… Read More

SEBI passed Consent order in a case against BP Equities alleged for Circular Trading

Market regulator SEBI today settled and passed a consent order in a case against B P Equities on payment of Rs 5 lakh for the company's alleged failure to exercise due diligence in conducting business as a broker. The case relates to allegations about B P Equities helping its clients to engage in circular trading.… Read More

MCA allows holding Board Meetings / General Meetings through Video Conferencing

Clarification on Green initiative in the Corporate Governance Participation by Directors in meetings of Board / Committee of Directors under the Companies Act, 1956 through electronic mode Green initiative in the Corporate Governance, the much talked about topic these days, brings another set of relaxation to the Registrar of Companies, the Directors and lastly the… Read More

Investors to hold MF units in demat form

CIRCULAR- CIR/IMD/DF/9/2011; Dated May 19, 2011 CLR Note: To protect the interests of Investors in securities and to promote the development of and to regulate the securities market, this circular has been passed so that the investors can hold the securities in the demat form by providing an option to the investors to mention demat account details in… Read More