Author: pkp309
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Transition from High Court to NCLT, compromise, arrangement, winding-up and other matters
The Insolvency and Bankruptcy Code, 2016 (31 of 2016) Key words of Preamble to the Insolvency and Bankruptcy Code, 2016 (IBC):- reorganization and insolvency resolution of- corporate person, partnership firms and individuals – in a time bound manner for maximization of value of assets to promote entrepreneurship availability of credit balance the interest of […]
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Promoters and Whole Time Directors in case of compulsory delisting
Where stock exchange makes compulsory delisting of equity shares of a Company under SEBI (Delisting of Equity Shares) Regulations, 2009 AND if the fair value to be paid to public shareholders is positive (which is determined by an Independent valuer appointed by Stock exchange), then such company and the depositories (both) shall not effect transfer, […]
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Real Estate (Regulation and Development) Act, 2016
Real Estate (Regulation and Development) Act, 2016 came into force from May 1, 2016. Ministry of Housing & Urban Poverty Alleviation, has notified 69 of the total 92 sections of the Act. The remaining 22 Sections are yet to be notified relates to the functions and duties of promoters, rights and duties of allottees, prior registration of real […]
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Companies Amendment Bill 2016: Analysis
An attempt is made to present an analysis of the Companies Amendment Bill, 2016. Posting analysis of definitions only. Analysis on other provisions would be posted in staggering mode. CLC = Companies Law Committee of Ministry of Corporate Affairs (MCA) which submitted its report in February 2016. LODR = Securities and Exchange Board (Listing Obligations […]
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What is the degree of proof required to hold brokers/sub-brokers liable for fraudulent/manipulative practice?
The Supreme Court of India, in its judgement in case of SEBI v. Kishore R. Ajmera delivered on 23 Feb. 2016, dealt with this question. Facts in brief: A broker with his sub-broker were allegedly involved in creation of artificial volumes in an illiquid scrip of Malvica Engineering Ltd, who matched volumes for their two […]
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One Person Company (OPC)
One Person Company by CS Prakash K. Pandya, assisted by Ms. Krinjal Shah In India, one can have three types of limited company viz. Public Company, Private Company and One Person Company. The concept of One Person Company (OPC) was first recommended by the expert committee of Dr. J.J. Irani in 2005. It is introduced […]
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SEBI and insider trading
Gist of provisions of SEBI Act, 1992 dealing with Insider Trading. Section 12A(d) prohibits, inter alia, engaging in insider trading. Section 11(2)(g) empower SEBI to take appropriate measures to protect the interest of investors in securities and to promote the development of securities market and to regulate securities market. Such measure of SEBI includes, inter […]
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What can be action by SEBI for not making public announcement, after acquiring shares from capital market?
What can be action by SEBI for not making public announcement, after acquiring shares from capital market? This is the issue many would have in mind, particularly in minds of promoters who are active in capital markets. GMR Holdings Pvt Ltd (‘GMR’) is promoter of Parrys Sugar Industries Ltd (‘Parrys), whose shares are listed on […]