COMPANY LAW
Singh & Singh Law Firm LLP Announces Its Attorney Promotions For 2023
Amidst a spree of promotions, Singh & Singh Law Firm LLP recently announced its promotions at the onset of the new financial year. The matrix is a well-balanced mix of attorneys with a range of skills and experiences being promoted across various profiles. Rohan Swarup, Kunal Vats, Nitya Sharma, and Devanshu Khanna are now Associate Partners in the Firm. This increases the number of Associate Partners to an updated count of 7. In addition to the new deck of Associate Partners, the...
Prosecution Can’t Only Recite From Complaint To Oppose Bail In Cases With Additional Conditions For Bail: Delhi High Court
The Delhi High Court has observed that the prosecution cannot only recite from a complaint or simply say that it has material against an accused in respect of those offences for which twin conditions are stipulated in a statute for grant of bail. Justice Anup Jairam Bhambhani said that the prosecution must show how the material collected during investigation supports allegations in the complaint and how they apply against the accused. “To reiterate, the opposition by the public prosecutor must...
Corporate Mismanagement And Oppression
Corporate mismanagement and oppression are persistent issues that have plagued organizations and their employees for many years. Mismanagement in various forms, including financial, ethical, and operational mismanagement, has resulted in decreased productivity, low morale, and reduced profitability. On the other hand, corporate oppression, which includes discrimination, harassment, and abuse, has dire consequences, such as employee turnover and decreased productivity. This research paper...
Small Shareholders Director Under The Companies Act, 2013
The concept of small shareholder director was introduced to safeguard the interests of small shareholders in a company. The appointment of a small shareholder director is a measure taken to ensure that the small shareholders of a company are adequately represented and to prevent the board of directors from taking any decisions that are detrimental to the interests of small shareholders. According to the Companies Act, 2013 small shareholders are those who have relatively less shares...
No Mandatory Requirement Of Aadhaar For MSME Udyam Registration: Centre To Gujarat High Court
The Ministry of Micro, Small and Medium Enterprises (MSME) on Monday informed the Gujarat High Court that there is no mandatory requirement of Aadhaar Number for registration of businesses with MSME Udyam Registration.The Court was hearing a PIL seeking quashing of the part of the Notification dated June 26, 2020 issued by MSME, so far as it allegedly mandatorily demands Aadhaar Number from the business persons for MSME Udyam registration.It was the grievance of the petitioner that by the...
Protection Of Minority Shareholders And Related Party Transactions
The Company is an artificial entity incorporated under the Companies Act, 2013[1] (hereinafter, ‘Company Act’), and conducts its affairs through its board of directors who owe a duty to take care towards all the stakeholders of the company and to conduct the affairs of the company in a neutral and unbiased manner. Shareholders of a Company can be in broad terms divided into majority shareholders and minority shareholders. Majority shareholders are those who have more than 51% or more...
Lifting Or Piercing Of Corporate Veil
Owing to the rising economic development and advancements within the corporate framework, the corporate world has witnessed various false statements, frauds, and insider trading. The concept of 'Corporate Veil' came into being in order to safeguard the members from the actions of the company. This piece of writing will discuss the "Piercing of Corporate Veil" underneath the "Companies Act of 2013". Concept Of Corporate Veil: "Salomon V. Salomon And Co. Ltd": The Salomon case...
A Move Towards Ease Of Doing Business: Amended Definition Of A Small Company
The Ministry of Corporate Affairs ("MCA") has recently implemented a number of initiatives aimed at making it easier for companies to conduct their business and function with ease, a few of these are as follows: extending fast track mergers to start-ups, encouraging the incorporation of One Person Company ("OPC"), decriminalizing certain aspects of the Companies Act, 2013 r/w the allied rules made thereunder ("Companies Act") and other similar steps to facilitate ease of doing business....
White-Collar Crimes Not Committed By Sudden Provocation But With Deep Understanding Of Consequences: Madras High Court
Denying bail to the former CEO of Surana Group of Companies in the alleged case of defrauding various banks to the tune of Rs 10,000 Crore, the Madras High Court recently observed that white-collar crimes are particularly harmful to the society as they are committed by well-educated and influential persons who understood the consequence of their actions. Justice AD Jagadish Chandira in the order said: Among other crimes, this sort of white-collar crimes are particularly harmful to...
Foreign Direct Investment In India: Law And Procedure
1.1 What is FDI? Foreign Direct Investment is an investment when a foreign company or individual acquires the stakes in the ownership of a business situated in another country. In terms of Rule 2(r) of Foreign Exchange Management (Non-debt Instruments) Rules, 2019, "Foreign Direct Investment means investment through equity instruments by a person resident outside India in an unlisted Indian company; or in ten percent or more of the post issue paid-up equity capital on a fully diluted...
NCLT Hyderabad Directs Emaar Group To Compensate Govt. Of Telangana In The Case Share Transfer To Emmar MGF Land Ltd
The National Company Law Tribunal ("NCLT"), Hyderabad Bench, comprising of Shri Bhaskara Pantula Mohan (Judicial Member) and Dr. Binod Kumar Sinha (Technical Member), while adjudicating an application filed in Telangana State Industrial Infrastructure Corporation v M/s Emaar Hills Township Pvt. Ltd. & Ors., has allowed a petition filed under Section 241-242 of the Companies Act, 2013 by Telangana State Industrial Infrastructure Corporation (TSIIC) against Emaar Hill Township Pvt....
