Company Law - Corporate Law Reporter

Justice Sodhi Committee Report on SEBI (Prohibition Of Insider Trading) Regulations, 1992

The High Level Committee to Review the SEBI (Prohibition of Insider Trading) Regulations, 1992 constituted under the Chairmanship of Justice (Shri.) N.K. Sodhi, former chief justice of Karnataka and Kerala High Courts and former presiding officer of the Securities Appellate Tribunal, submitted its report to SEBI Chairman, Shri U.K. Sinha, on December 7, 2013 at… Read More

CCI Issues Order against CIL and its Subsidiaries, Imposes Penalty

The Competition Commission of India (CCI) has imposed a penalty of Rs. 1773.05 crores on Coal India Limited for abusing its dominant position. The final order was passed on 09.12.2013 on a batch of informations filed by Maharashtra State Power Generation Company Ltd. and Gujarat State Electricity Corporation Limited against Coal India Ltd. and its… Read More

Penalties Imposed by the Competition Commission of India

Up to 25.11.2013, the Competition Commission of India has imposed penalty of Rs. 8024.18 crore on 154 parties in various cases out of which an amount of Rs. 19.37 crore has been recovered and deposited in Government Account from 58 parties. Giving this information in written reply to a question in the Rajya Sabha today,… Read More

Amendment of Accounting Standards

Examination of various Rules and Accounting Standards under the Companies Act, 2013 is an ongoing process. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that Accounting Standards are amended from time to time keeping in view the requirements of the situation.… Read More

Use of Unclaimed Funds Lying With Companies

As specified in Section 205C of the Companies Act, 1956, companies are required to transfer such amounts as have remained unclaimed and unpaid on account of dividends, matured deposits and debentures with companies for a period of seven years from the date that they become due for payment to Investor Education and Protection Fund (IEPF).… Read More

Women Directors on Boards of Corporate Companies

As per the data available in the MCA-21 system of the Ministry of Corporate Affairs, as on 28.11.2013 there were 4,83,103 women directors on boards of corporate companies registered under the Companies Acts including government companies. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of… Read More

Exchange Traded Cash Settled Interest Rate Futures (IRF) on 10-Year Government of India Security

CIRCULAR CIR/MRD/DRMNP/35/2013 December 05, 2013 To Recognized Stock Exchanges Recognized Clearing Corporations Dear Sir/Madam, Sub: Exchange Traded Cash Settled Interest Rate Futures (IRF) on 10-Year Government of India Security 1. SEBI vide circular No.… Read More

Investigation of Corporate Frauds by Serious Fraud Investigation Office

During the last three years, the Ministry of Corporate Affairs has ordered investigations under section 235 of the Companies Act, 1956 in 134 cases of corporate frauds through the Serious Fraud Investigation Office (SFIO) of the Ministry. Year-wise details are as under: Year No. of companies ordered for investigation 2011-12 12 2012-13 46 2013-14 (Till… Read More

Establishing A National Company Law Tribunal

Detailed Rules and necessary arrangements are under preparation with respect to the establishment of a National Company Law Tribunal (NCLT). Giving this information in written reply to a question in the Lok Sabha, Minister of Corporate Affairs, Shri Sachin Pilot, said that the relevant provisions of the Companies Act, 2013 regarding operationalisation of NCLT have… Read More

More Powers to the Competition Commission of India

The Competition (Amendment) Bill, 2012 introduced in the Lok Sabha inter-alia, proposes to enable Competition Commission of India (CCI) to conduct search and seizure operations directly for carrying out effective investigations into unfair market practices. Giving this information in written reply to a question in the Lok Sabha, Minister Of Corporate Affairs, Shri Sachin Pilot,… Read More

Strengthening the ˜Market Research and Analysis Unit™ of the Serious Fraud Investigation Office

Since 2009, a Market Research and Analysis Unit (MRAU) has been functioning in the Serious Fraud Investigation Office (SFIO) with the objectives of analyzing media reports and for market surveillance relating to corporates. Giving this information in written reply to a question in the Lok Sabha, Minister of Corporate Affairs, Shri Sachin Pilot, said that… Read More

New National Competition Policy Under Consideration

Formulation of a National Competition Policy is under consideration of the Government. Giving this information in written reply to a question in the Lok Sabha, Minister of Corporate Affairs, Shri Sachin Pilot, said that the Government has introduced a Public Procurement Bill, 2012 in Lok Sabha in May, 2012. The Bill seeks to regulate public… Read More

Implementation of the New Company Law

The Companies Act, 2013 has been assented to by the President of India on 29.08.2013 and published in the Official Gazette on 30.08.2013 which empowers the Central Government to bring into force various sections from such date(s) as may be notified. Accordingly, 98 Sections of the Companies Act, 2013 have been notified on 12.09.2013. Giving… Read More