Corporate Law Articles

Sick companies - The Companies Bill 2011

Victor J uruvath 25 April 2012 at 11:48

Our existing companies act 1956 was enacted based upon the recommendations of the Bhabha committee with an object to amend and consolidate the law relating to companies and certain other associations. The Com

Foreign Exchange Management Act, 1999 (FEMA): Basic Understanding

Ajay Mishra 25 April 2012 at 11:48

INTRODUCTION A system of exchange control was first time introduced through a series of rules under the Defense of India Act, 1939 on temporary basis. The foreign crises persist

Critical issues under SARFAESI Act, 2002?

Durga Rao 23 April 2012 at 11:30

It is always welcome to enable the Banks to recover their dues using the provisions of SARFAESI Act, 2002. It is known that it is very difficult for the Banks to approach Civil Court asking for a decree and getting that decree executed. With the i

The Companies Bill, 2011 - Welcome Reforms for Independent Directors

Victor J uruvath 23 April 2012 at 11:29

Introduction When we hear that an individual is appointed as an Executive Director of a company, we know that his duties include fiduciary duties, statutory duties and duty

Holding of Annual General Meeting beyond Prescribed Time

Dilip K Raina 17 April 2012 at 11:28

Section 166 of the Companies Act 1956: As per the requirements of Section 166 of the Companies Act 1956 every company whether a public company or private company is required to hold in addition to other meetings a meeting of its members annually c

Investigative Audit by CLB under section 397/398?

Durga Rao 17 April 2012 at 11:28

Shareholders qualifying under section 399 of Companies Act, 1956 can approach the Company Law Board under section 397/398 seeking preventive and remedial measures against the oppression and mis-management in the Company. Though, section 397/398 i

A Note on Disqualification of a Director under section 274 (1) (G) of the Companies Act, 1956

Ajay Mishra 17 April 2012 at 11:27

PURPOSE OF THE DISQUALIFICATION The Department of Company Affairs vide its General Circular No. 2/5/2001-CL.V, clarifies that the provisions of section

Inspection Books of Account and Investigation

G S Rao 16 April 2012 at 13:42

Introduction In my previous article titled Books of account under Section 209 of the Companies Act, 1956 a detailed analysis of Section 209 was made. As a sequel, I intend to cover the provisions of Section 209-A which deals with i

Clause 41 of the Listing Agreement: A synopsis

CS Ankur Srivastava 10 April 2012 at 11:21

Clause 41 of the Listing Agreement deals with preparation and submission of Financial Results to the Stock Exchange. The Company has to disclose its quarterly and yearly results to the Stock Exchange in the following manner:- The Company has an

Note on Revised Schedule VI: Shareholders' Funds

Ajay Mishra 10 April 2012 at 11:20

The Ministry of Corporate Affairs (MCA) has prescribed a revised Schedule VI to the Companies Act, 1956 vide Notification dated 28.02.2011 which is applicable fo