Latest Updates

  • Constitution of Benches for Company Law Board [ File No.10/43/2005-CLB][29th January 2015]

  • Amendments to the Company Law Board Regulations, 1991 [ Order: F. No. 10/36/2001-CLB][28th January 2015]

  • Submission of Data to Credit Information Companies - Format of Data to be submitted by Credit Institutions [ DNBR .(PD).CC.No.015/03.10.001/2014-15][28th January 2015]

  • Dispensing with ‘No Due Certificate’ for lending by banks [ FIDD.CO.LBS.BC.No.49 /02.01.001/2014-15][January 28th 2015]

  • Exim Bank''s Line of Credit of USD 100 million to the Government of the Federal Republic of Nigeria [ A.P. (DIR Series) Circular No.66][27th January 2015]

  • Exim Bank''s Line of Credit of USD 22.50 million to the Government of the Republic of Gambia [ A.P. (DIR Series) Circular No.65][27th January 2015]

  • External Commercial Borrowings (ECB) Policy - Simplification of Procedure [ A.P. (DIR Series) Circular No.64][23rd January 2015]

  • SEBI Board Meeting [ PR No. 19/2015][22nd January 2015]

  • Export and Import of Indian Currency - An individual may carry to Nepal or Bhutan, currency notes of Reserve Bank of India subject to a limit of Rs.25000. [ A.P. (DIR Series) Circular No.63][22nd January 2015]

  • Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000 - Remittance of salary [ A.P. (DIR Series) Circular No.62][22nd January 2015]

  • Depository Receipts Scheme 2014 for investments under ADR / GDR [ A.P. (DIR Series) Circular No. 61][22nd January 2015]

  • Review of FDI policy in Construction Development sector [ A.P. (DIR Series) Circular No. 60][22nd January 2015]

  • Review of Overseas Direct Investments by proprietorship concern / unregistered partnership firm in India [ A.P. (DIR Series) Circular No.59][22nd January 2015]

  • Display of information by banks [ DBR.Leg.No.BC.64/09.07.005/2014-15][22nd January 2015]

  • Payments into Government Account through Debit / Credit cards and Net banking: permissible period for remittance [ DGBA.GAD No.H-3203/42.01.011/2014-15][21st January 2015]

  • Companies (Appointment and Qualification of Directors) Amendment Rules, 2015 [ F.No. 01/9/2013-CL.V(PART-II)][19th January 2015]

  • Companies (Corporate Social Responsibility Policy) Amendment Rules, 2015 [ F.No. 1/18/2013-CL-V-Part][19th January 2015]

  • Interest Rates on Advances [ DBR.Dir.BC.No.63/13.03.00/2014-15][19th January 2015]

  • Flexible Structuring of Long Term Project Loans to Infrastructure and Core Industries [ DNBR.PD.CC.No.012/03.10.001/2014-15][19th January 2015]

  • Companies (Accounts) Amendment Rules, 2015 [ F. No. 1 /19/2013-CL-V-Part][16th January 2015]

  • Nirmala Mahim Bhatt and Others v. Hotel Longdale (P.) Ltd. and Others  [2015] 124 CLA 82 (CLB)- Oppression - mismanagement- Companies Act, 1956

  • Ludhiana Holdings Ltd. v. Oswal Woollen Mills Ltd.  [2015] 124 CLA 88 (P&H)- Amalgamation- Companies Act, 1956

  • Bajrang Prasad Jalan and Others v. Madhuri Jalan and Others Nirvan Commercial Co. Ltd. v. Madhuri Jalan and Others  [2015] 124 CLA 10 (Cal.)- Oppression - mismanagement- Companies Act, 1956

  • Fourcee Infrastructure Equipments (P.) Ltd. and Others v. General Atlanta Singapore Fund (P.) Ltd. and Others  [2015] 124 CLA 30 (CLB)- Oppression - mismanagement- Companies Act, 1956

  • Anand Brothers (P.) Ltd. v. Union of India and Others  [2015] 124 CLA 1 (SC)- Arbitral Award- Arbitration and Conciliation Act, 1996

  • Chandrakant Shankar Pathak v. Indigo Hotels (P.) Ltd. and Others  [2014] 123 CLA 530 (CLB)- Oppression- Companies Act, 1956

  • ETA Engineering (P.) Ltd. v. Texmaco Rail & Engineering Ltd.  [2014] 123 CLA 464 (Mad.)- Winding Up- Companies Act, 1956

  • Pramod Kumar Sharma v. Registrar of Companies  [2014] 123 CLA 553 (Guj.)- Defunct Company- Companies Act, 1956

  • Uddhao Dattarao Nagre v. Jijamata Sugars (P.) Ltd. and Others  [2014] 123 CLA 507 (CLB)- Oppression- Companies Act, 1956

  • Jayesh Koshambi v. Vighneshwar Airconditioning (P.) Ltd. and Others  [2014] 123 CLA 487 (CLB)- Oppression - mismanagement- Companies Act, 1956

  • Ghanshyam Sarda v. Shiv Shankar Trading Co. and Others J K Jute Mill Mazdoor Ekta Union v. Shiv Shankar Trading Co. and Others J K Jute Mill Mazdoor Ekta Union v. Shiv Shankar Trading Co. and Others Ghanshyam Sarda v. J K Jute Mills Co. Ltd. and Another Ghanshyam Sarda v. Sashikant Jha, Director, J K Jute Mills Co. Ltd. and Others J K Jute Mills Mazdoor Ekta Union v. Sashikant Jha, Director, J K Jute Mills Co. Ltd. and Others  [2014] 123 CLA 445 (SC)- Sick Industrial Company- Sick Industrial Companies (Special Provisions) Act, 1985

  • Tulip Hotels (P.) Ltd. and Another v. Trade Wings Hotels Ltd. and Others  [2014] 123 CLA 380 (CLB)- Oppression - mismanagement- Companies Act, 1956

  • SICOM Ltd. v. Securities and Exchange Board of India SICOM Ltd. v. Securities and Exchange Board of India  [2014] 123 CLA 346 (SAT)- Acquisition of Shares/Voting Rights- Securities and Exchange Board of India Act / Regulations

  • Rohit Sahni and Another v. Richlook Infrastructure (P.) Ltd. and others  [2014] 123 CLA 431 (CLB)- Oppression - mismanagement- Companies Act, 1956

  • Oil & Natural Gas Corporation Ltd. v. Western Geco International Ltd.  [2014] 123 CLA 315 (SC)- Arbitral Award- Arbitration and Conciliation Act, 1996

  • North Eastern Railway and Others v. Tripple Engineering Works  [2014] 123 CLA 330 (SC)- Appointment of Arbitrator- Arbitration and Conciliation Act, 1996

  • K N Vasudeva Adidas and Another v. Vasudeva Adidas Fast Food (P.) Ltd. and Others  [2014] 123 CLA 360 (CLB)- Oppression - mismanagement- Companies Act, 1956

  • Golden Tobacco Ltd. v. Securities and Exchange Board of India GHCL Ltd. v. Securities and Exchange Board of India  [2014] 123 CLA 335 (SAT)- Listing Agreement- Securities and Exchange Board of India Act / Regulations

  • KSL & Industries Ltd. v. Arihant Threads Ltd. and Others  [2014] 123 CLA 198 (SC)- Recovery of Debt- Recovery of Debts Due to Banks and Financial Institutions Act, 1993

  • Pulsive Technologies (P.) Ltd. v. State of Gujarat and Others  [2014] 123 CLA 241 (SC)- Dishonour of Cheque- Negotiable Instruments Act, 1881

  • Non-cooperation with the competition authorities [ Surendra U Kanstiya*]

  • Companies (Amendment) Bill 2014 [ T V Narayanaswamy]

  • Bouncing of cheque – A shift in favour of the accused [ G P Sahi*]

  • Analysis of provisions relating to Board meeting through video-conferencing [ Gaurav Pingle*]

  • E-voting – Whether to protect or extinguish corporate democracy ? [ Saloni Bhandari* • Subhashree Pani*]

  • Related party transactions and corporate governance in india: new problems and challenges [ Sagnik Das* • Ayan Sinha*]

  • Foreign direct investment in e-commerce – The flipkart saga [ Vishesh Arora*]

  • Why it is worth to be a private company ? [ Dr. K S Ravichandran*]

  • Decoding of provisions relating to corporate social responsibility in section 135 of the Companies Act, 2013 [ Aditi Rani*]

  • Independent directors in India – A missed opportunity? [ Chitwan Deep Singh • Raghunath Seshadri*]

  • SEBI Consultation Paper on crowd-funding in India – Key takeaways [ Shriya Jain* • Param Pandya*]

  • Class action suit – Securing minority rights and public interest of shareholders under company law [ Prerna Desu Sateesh* • Akshay Sinha*]

  • Conduct of annual general meeting by listed companies [ Satwinder Singh*]

  • Section 186 of the Companies Act, 2013 and corporate India – A new tryst [ Abhishek Bansal* Stuti Bansal**]

  • One person company (OPC) – An assault on Indian corporate law ? [ P K Chandy*]

  • Is it necessary to have poll at general meetings of listed companies ? [ T V Narayanswamy]

  • Consequences of defaults in filing resolutions and returns under the Companies Act, 2013 [ Dr. K S Ravichandran*]

  • Managerial remuneration under the Companies Act, 2013 [ Gaurav Pingle*]

  • Acceptance of deposits and the Companies Act, 2013 – Stricter regime [ Gaurav Arora • Supritha Prodaturi*]

  • Self-assessment for compliance with the Competition Act, 2002 [ Vinay Kumar Sanduja*]

  • Compliance with requirements of paragraph 6A(g) of General Instructions for preparation of balance sheet of Schedule III with respect to joint holding with different combinations

  • Notice of general meeting to member of company

  • Is auditor’s report on accounts required to be read at the annual general meetings of companies under the Companies Act, 2013 ?

  • Whether elevation of an employee of a company who is a relative of its director without any change in the terms and condition of his appointment attract the provisions of section 188 of the companies act, 2013?

  • Which organ of a company can appoint an independent director under the Companies Act, 2013 ?

  • For the purposes of section 186 of the Companies Act, 2013, will subscription to debentures, issued by a company, by another body corporate which includes a company would be treated as a loan made by the latter or acquisition of securities by it ?

  • Whether accumulated share premium, which forms part of proceeds of earlier issue of shares can be utilised for buy-back of shares ?

  • Whether it is mandatory for a person, holding shares or voting rights in a company, along with persons acting in concert with him, of five per cent or more of the shares or voting rights in that company to disclose under regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (Takeover Regulations) his individual acquisition, which does not exceed 2 per cent of the shares or voting rights but which crosses the said limit of 2 per cent if taken together with the acquisition made by persons acting in concert with him, from the last disclosure made?

  • Will the appointment of a person who is a relative of a director of a company as its managing or whole-time director attract the provisions of section 188 of the Companies Act, 2013 ?

  • Is it necessary for a company to verify the correctness of the disclosures made to it before forwarding the same to the stock exchange or other authorities under various regulations promulgated by the Securities and Exchange Board of India ?

  • Whether loan to employees of a company can be given without complying with the requirements of section 186 of the Companies Act, 2013?

  • You are aware the Government have increased the permissible interest rate from 14 per cent to 15 per cent for non-banking/ non-financial companies. We have come across two circulars from two well known compnies, one from Calcutta and the other from Bombay reading as follows: ''We are glad to inform you that the Government has raised the maximum rate of interest payable by non-banking/ non-financial companies from 14 per cent to 15 per cent per annum with effect from 10th ]anuary,1992. The Government has also extended the benefit of enhanced interest rate to the existing depositors and the Press Note released by the Government states that : "A company can extend the benefit of increased interest rate to the unexpired portion of an existing deposit provided the deposit is renewed for a fresh term longer than the unexpired period and there is a reduction of 1 per cent in the rate actually contracted and paid earlier for the expired period.'' "The Government ,vide their Notification dated 10th January,1992, have increased the maximum rate of interest payable on public deposits accepted under the Companies (Acceptance of Deposits) Rules, 1975 from 14 per cent to 15 per cent per annum. We are pleased to inform you that the benefit of 1 per cent increase in the rate of interest will be automatically extended to your existing fixed deposit as indicated above. This will be given effect to at the time of six monthly interest payment due on 1st May,1992 or in the maturity interest warrant for deposits maturing prior to 1st May,1992." Are the aforesaid announcements enhancing the rate of interest on existing deposits in accordance with the Acceptance of Deposits Rules ?

  • The company furnishes UN audited financial results on a half-yearly basis in the proforma within months of the expiry period to the stock exchange. The company makes an announcement forthwith to the stock exchange. Can we construe that ''furnishing'' and ''announcement'' are synonymous? The Board of directors should take on record the results which should be signed by the managing director/director. Can we construe that 48 hours should be counted from the time the particulars are furnished or the announcement is made to the stock exchange ? Here ''furnish'' and ''announcement'' are taken as synonymous. The Board may take on record well before the furnishing or announcement and 48 hours should not be counted from the Board meeting whereat the results were taken on record. Let us take an example: As per the requirement, the results for the period ended 31st March,1992 must be furnished/ announced to the stock exchange by 31st May,1992. Where the results are furnished/ announced to the stock exchange on 28th May, 1992, publication should be made by 30th May,1992. In this given situation, the Board may consider and take on record on any day after 31st March,1992. The Board considered, say, on 5th May,1992. Can results still be furnished/announced to the stock exchange on 28th May,1992 and published on 30th May,1992.

  • Is it mandatory to convene and hold the requisitioned meeting by the requisitionists, within three months of the date of the requisition, if the Board of directors of the company fails to take action on the valid requisition deposited by them ?

  • Can a bonus entitlement of a member of a company be renounced?

  • Can the Company Law Board remove an auditor of a company, by exercising its power under section 402 of the Companies Act, 1956 ?

  • Whether independent director of a company could be appointed by the shareholders in general meeting under the Companies Act, 2013?

  • Is a ‘rights’ issue by an unlisted public company, conferring a right to renunciation to its members numbering more than fifty, a public issue?

  • Will it be necessary for a company which has already fixed a limit on the borrowing powers of directors to pass afresh a special resolution under section 180 of the Companies Act, 2013 which has been put into force as from the 12th September, 2013 ?

  • Can a Gift of property be made by a company to another entity under a scheme of arrangement under section 391 of the Companies Act, 1956?

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CLAonline is India's premier Online exclusive e-library on Corporate / SEBI and Business Laws since 1950 from the house of "Corporate Law Adviser" a more than two decade old leading publishing house on the subject. The e-library consists of Case Laws (with head notes), Wealth of intellectual knowledge in the shape of Articles by experts, Procedures under Company Law, Resolutions, Queries and their Replies by experts, Notifications and Circulars of various Ministries / Departments, Updated legislations etc.

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