This otherwise is a routine case of demerger, however has posed an interesting question - Whether demerger do not require court approval in view of section 180 of the Companies Act, 2013? In Re: United Spirits Limited, 2015(2) AKR 243 In a scheme of demerger, Regional Director (Ministry of Corporate Affairs) objected that the scheme … Continue reading Demerger whether do not require approval of High Court, in view of Section 180 of Companies Act 2013?
Category: Transaction Advisory
Transaction advisory – covering legal compliance under Companies Act, Securities Contracts Regulations (SCRA), Listing Agreement, Legal Metrology, Trade Marks, Foreign Exchange Management Act (FEMA), Labour laws, Sick Industrial Companies (SICA), Recovery of Dues to Banks and Financial Institutions Act, 1993 (RDB Act), Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI)
Amalgamation – objection to change name as part of scheme
In Re: Michelin India Private Limited [MANU/TN/0817/2015] Madrad High Court In a scheme of amalgamation, it was proposed that name of the transferor company shall be deemed to be name of the transferee company. The Regional Director, Ministry of Company Affairs ('MCA'), objected to the same on the ground that as per General Circular No. … Continue reading Amalgamation – objection to change name as part of scheme
Amendment to E-voting – Rule 20 of Companies (Management and Administration) Rules, 2014
E-voting - Rule 20 of Companies (Management and Administration) Rules, 2014 Ministry of Corporate Affairs notified amendment to e-voting related provision effective from 19 March 2015. Comparison of earlier and new provision with effects thereof are stated below. Existing provisions New provisions Comment - The provisions of this rule shall apply in respect of … Continue reading Amendment to E-voting – Rule 20 of Companies (Management and Administration) Rules, 2014
Note on amendment to the Companies (Share Capital and Debenture) Rules, 2014 made from 18 march 2015
Note on amendment to the Companies (Share Capital and Debenture) Rules, 2014 by MCA vide notification no. G.S.R. 210(E) dated 18 March 2015. EXISTING AMENDMENT COMMENT Rule 3 of the Companies (Share Capital and Debentures)Application.- The provisions of these rules shall apply to - (a) all unlisted pubic companies: (b) all private companies: and … Continue reading Note on amendment to the Companies (Share Capital and Debenture) Rules, 2014 made from 18 march 2015
Trade Marks
The Indian Trade Marks law, viz. the Trade Marks Act 1999 provides protection for marks of goods and services collective marks certification trademarks, and well-known marks. Under Indian law it is not mandatory to register trade marks to avail the legal protection. The usage of trade marks is more important and protection of law in … Continue reading Trade Marks
COPYRIGHT ACT
The Indian Copyright Act 1957, as amended by the Copyright (Amendment) Act 1999 provides protections to the creators of literary, dramatic, musical and artistic works and producers of cinematographic films and sound recordings. Copyright is given to the creators of a wide range of material, such as literature, art, music, sound recordings, films and broadcasts, … Continue reading COPYRIGHT ACT
Section 76: Acceptance of deposits from public by certain companies.
76. (1) Notwithstanding anything contained in section 73, a public company, having such net worth or turnover as may be prescribed, may accept deposits from persons other than its members subject to compliance with the requirements provided in sub-section (2) of section 73 and subject to such rules as the Central Government may, in consultation … Continue reading Section 76: Acceptance of deposits from public by certain companies.
Section 74: Repayment of deposits, etc., accepted before commencement of this Act.
Provisions on repayment of deposits, etc., accepted before commencement of Companies Act, 2013 is reproduced below: 74. (1) Where in respect of any deposit accepted by a company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on such commencement or becomes due … Continue reading Section 74: Repayment of deposits, etc., accepted before commencement of this Act.
Section 73. Prohibition on acceptance of deposits from public.
Prohibition on acceptance of deposits from public - as contained under section 73 of the Companies Act, 2013 is reproduced below: 73. (1) On and after the commencement of this Act, no company shall invite, accept or renew deposits under this Act from the public except in a manner provided under this Chapter: Provided that … Continue reading Section 73. Prohibition on acceptance of deposits from public.
Section 135: Corporate Social Responsibility.
Corporate Social Responsibility: 135. (1) Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more … Continue reading Section 135: Corporate Social Responsibility.
