New Companies Act comes into force

The new Companies Act, 2013 that will come into force from today have many sections which are yet to be notified, which include setting up of a National Company Law Tribunal (NCLT), a National Financial Reporting Authority (NFRA), winding-up of sick companies and special courts. Some of the left out sections also related to the Investor and Education Protection Fund, compromise and arrangement, oppression and mismanagement, fraud and the damages required to be paid by companies involved. 
Till...

Corporate Social Responsibility: From a Moral Duty to a Statutory Mandate

The theory of corporate social responsibility revolves around the discretionary, ethical, legal and economic expectations placed on businesses by society, Ethics, in this case, pertains to the perceived duty of businesses to adhere faithfully to law and avoid activity that undermines the welfare of investors, consumers, employees and citizens in the pursuit of profit. To some it conveys the idea of legal responsibility or liability; to others, it means socially responsible behavior in the...

Pending writ petition leads to holding back of NCLT recruitment

As per reports, the government, which had invited applications for the posts of judicial members in the National Company Law Tribunal, has put the process on after two months of doing so, as a writ petition filed by the Madras Bar Association is pending in the Supreme Court. The Supreme Court has been informed by the corporate affairs ministry that till the time the matter is resolved, the process of recruiting judicial and technical members will be postponed, which would mean further deferral...