Introduction After such a long wait of around 3 months since the enforcement of provisions of the Companies Act, 2013 (‘Act, 2013’) dealing with Compromise or arrangements, Securities of Exchange Board of India (‘SEBI’) finally came up with a Circular [1]dated March 10, 2017 (‘the Circular’) aligning the provisions to be followed by listed […]
MCA vide notification no S.O. 2866(E) dated 5th September, 2016[1] has enforced section 124 and 125 of the Act, 2013 (except for the sub-sections which were already enforced by MCA on 13th January, 2016). Further, MCA has also come up with another notification dated 5th September, 2016 whereby it has brought the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016[2] (‘Principal Rules’).
RBI vide Circular no DNBR (PD) CC.No.086/03.10.001/2016-17 (Notification), in a bid to align the extant directions with the provisions of Section 269SS and 269T of the Income Tax Act, 1961 has issued Notification which states the following: The present Directions require high value gold loans of Rs. 1 lakh and above to be disbursed by […]
Background Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016[1] (‘Principal Rules’) was brought by MCA on 5th September, 2016 wherein it laid down inter alia the detailed procedure to transfer the shares to the IEPF Authority. The detailed procedure provided in the Principal Rules had technical as well as practical […]
The Reserve Bank of India (RBI) vide its notification[1] dated March 03, 2017 (Present Notification) amended Schedule 9 of the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000 (Regulations, 2000).The present notification was published in the official gazette[2] on the even date. The salient highlights of the […]
With the commencement of the Insolvency and Bankruptcy Code, 2016(the ‘Code’) vide notification dated May 28, 2016, scope w.r.t resolution pertaining to Insolvency Proceedings has been immensely increased. The stakeholders have progressively begun availing the remedies under the Code and numerous applications have been filed across different Benches of NCLT for redressal. In the recent […]
Introduction On January 13, 2017, while dealing with a scheme of amalgamation, among other things, the Principle Bench of the NCLT, New Delhi [Principle Bench] rejected the prayer to dispense with the requirement of convening the meeting of the equity shareholders of the Company. The Principle Bench opined that the provisions contained in Section 230 […]