Secretarial Standards, now mandatory under the Companies Act, 2013 provides for various matters which follows from the provisions of the Companies Act. The Standards to be followed for Meetings of the Board of Directors is detailed in this slidedeck below.
Oppression is defined as 'when affairs of the company are being conducted in a manner prejudicial to public interest or in a manner oppressive to any member or members'. The following are some activities that could be construed as Oppressive
Clarification on “Relevant Date”: Scheme of Arrangement during Preferential Allotment for Listing Entities The Companies (Audit and Auditors) Amendment Rules, 2017 The Companies (Meetings of Board and its Powers) Amendment Rules, 2017 Amendment in Schedule III to the Companies
With the ability to modify the guidelines quick and fast, Companies Act has become dynamic. On 19 July 2016, the Ministry of Corporate Affairs notified the Companies (Share Capital and Debentures) Third Amendment Rules 2016 (Amendment) to amend certain provisions
Business Gateway – Israel and India By Sharda Balaji, Founder, NovoJuris This May 2014, I attended the Israel Innovation Conference, at Tel Aviv, an event focused on Bio-Med and Hi-Tech. Having experienced Israel’s innovation capabilities from close quarters, from working with
With some open questions left on appointment of independent directors under the new Act, Ministry of Corporate Affairs has issued some clarifications on representations being made to it from various Industry Chambers, Professional Institutes. The clarifications are as follows: Pecuniary
Issue of sweat equity shares for a private company used to be regulated by Section 79A and Unlisted Companies (Issue of Sweat Equity Shares) Rules, 2003 under Companies Act, 1956. Now the same is regulated by Section 54 and Chapter
Issuing shares with differential rights has become more prescriptive and restrictive in Companies Act, 2013.New startups may find it difficult to meet the precondition of consistent track record of distributable profits for last 3 years. Voting Rights when there are
Companies Act 2013 has increased monetary penalties and imprisonment. The civil and criminal liabilities are not just on directors but includes “Officers in Default”. There is heightened corporate governance requirements even for startups and unlisted companies, even though there
[slideshare id=30610863&sc=no] Author : Geetika Chandel – a Company Secretary; manages Compliances at NovoJuris. She loves making graffitis. Disclaimer : This is not a legal opinion and should not be construed as one. Please speak with your attorney for any advice.
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