July 2017

High Court interprets Arbitration Act, powers of Arbitrator vis-à-vis Doctrine of lifting of Corporate Veil


Company Cases Vol. 203: Part 2. Page No. 125

The Doctrine of Lifting of Corporate Veil is applied where the shareholders/directors take the undue advantage of one of the features of Company i.e. ‘corporate legal personality’ separate from its directors and shareholders. The Doctrine is applied in certain exceptional cases, whereby the Court is entitled to lift the veil of corporate entity and to pay regard to the economic realities behind the legal facade. This article is an analysis of the recent Delhi High Court’s judgment . The article contains the broad facts of the case, issues involved, reference to doctrine of lifting of corporate veil w.r.t. the Arbitral Tribunal and analysis of the outcome of the case.

Disclaimer

Article has been first published by in Company Cases and Copyright belongs to Company Cases. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither Company Cases nor Author is responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.



February 2015

Court is not a Meticulous Accountant – Bombay High Court in Cadbury India’s Capital Reduction case – Analysis of Judgment


FOCUS (Monthly Newsletter of ICSI – WIRC)

Bombay HC passed a landmark judgement in the matter of Cadbury India Limited, relating to share valuation in the matter of share capital reduction. The ruling analysis includes (i) fact of case, (ii) summary of objections, (iii) provisions of law, (iv) Principles laid down, (v) Conclusion.

Disclaimer

Article has been first published by WIRC of of ICSI and Copyright belongs to WIRC of ICSI / ICSI. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither WIRC of ICSI / ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.

 


June 2014

Analysis of the Bombay High Court Judgment on Court convened meetings & Voting by Postal Ballot


Article in the Souvenir – Backgrounder for Annual Regional Conference conducted by WIRC of ICSI

Article is an analysis of Bombay HC’s judgment which has clarified the provisions for ‘court convened meeting’, passing a resolution through postal ballot and passing a resolution by electronic voting u/s 391-394 of Cos. Act, 1956. In the article, there is also reference to court’s observation about validity of Co. Rules uploaded on MCA portal under Cos. Act, 2013.

Disclaimer

Article has been first published by ICSI in the Souvenir / Backgrounder of a conference, and the Copyright belongs to ICSI. The article has been published on this portal for the benefit of the visitors. Material contained in the journal is not intended to replace appropriate professional advice required before acting on any matter. Neither ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.

 


July 2013

Understanding “Disposal” & “Undertaking” in terms of Section 293 (1) (a) of the Companies Act, 1956 (Part II)


FOCUS (Monthly Newsletter of ICSI – WIRC)

Article is an analysis of the terms ‘undertaking’ which has referred in Section 293(1)(a) of Cos. Act, 1956, along with case laws. Accounting Standard – 24 relating to “Discontinuing Operation” has also been dicussed, with respect to accounting disclosures and compliances.

Disclaimer

Please contact Gaurav Pingle (acsgauravpingle@gmail.com) for the copy of the article.

 


June 2013

Understanding “Disposal” & “Undertaking” in terms of Section 293 (1) (a) of the Companies Act, 1956 (Part I)


FOCUS (Monthly Newsletter of ICSI – WIRC)

Disclaimer

Please contact Gaurav Pingle (acsgauravpingle@gmail.com) for the copy of the article.

Article is an analysis of the terms ‘disposal’ which has referred in Section 293(1)(a) of Cos. Act, 1956, along with case laws.


May 2013

Fiduciary Duties of the Directors


Sanhita (Monthly Newsletter of Pune Chapter of ICSI)

Duties and legal position of the directors are neither academic nor theoretical concepts. The article elaborates the fiduciary duties, which have evolved over a period of time.

Disclaimer

Article has been first published by Pune Chapter of ICSI and Copyright belongs to Pune Chapter of ICSI / ICSI. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither Pune Chapter of ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.

 


January 2013

Analyzing Section 297, 299 and 300 of the Companies Act, 1956 – Part III


Sanhita (Monthly Newsletter of Pune Chapter of ICSI)

This Part of the article compares the following provisions in tabular format: (i) Consequences for contravention of provisions of section, (ii) Whether offence compoundable, (iii) Elaboration of certain terms and phrases.

Disclaimer

Article has been first published by Pune Chapter of ICSI and Copyright belongs to Pune Chapter of ICSI / ICSI. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither Pune Chapter of ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.

 


December 2012

Analyzing Section 297, 299 and 300 of the Companies Act, 1956 – Part II


Sanhita (Monthly Newsletter of Pune Chapter of ICSI)

This Part of the article compares the following provisions in tabular format: (i) Exception to the Sections (by interpretation), (ii) Exception to the Sections (As per Act / MCA Circular, Notification).

Disclaimer

Article has been first published by Pune Chapter of ICSI and Copyright belongs to Pune Chapter of ICSI / ICSI. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither Pune Chapter of ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.

 


November 2012

Analyzing Section 297, 299 and 300 of the Companies Act, 1956 – Part I.


Sanhita (Monthly Newsletter of Pune Chapter of ICSI)

Provisions of Section 297, 299, 300 of Cos. Act, 1956 are invariably taken into consideration when there are transactions between group cos., for ensuring proper compliance. Article compares the following provisions in tabular format: (i) Obect, (ii) Common Theme, (iii) Parties covered, (iv) Applicability.

Disclaimer

Article has been first published by Pune Chapter of ICSI and Copyright belongs to Pune Chapter of ICSI / ICSI. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither Pune Chapter of ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.

 


August 2012

Out of Control?


Published By – FOCUS (Monthly Newsletter of ICSI – WIRC)

Control’ is one of crucial and a very strategic term in the Corporate Sector. It has been very widely defined in various corporate laws and also there are many case laws to further elaborate or clarify its definition. Article is an analysis of definitions and to understand that whether the definition or the concept of ‘control’ has actually gone out of control?

Disclaimer

Article has been first published by WIRC of of ICSI and Copyright belongs to WIRC of ICSI / ICSI. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither WIRC of ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.

 


February 2012

Remuneration for Rendering Professional Service


FOCUS (Monthly Newsletter of ICSI – WIRC)

Cos. Act, 1956 provisions takes into wherein specialized professional (who is a Director) reders certain services to the company and received an amount as ‘professional fees’. The relevant provision is proviso to Section 309(1) of the Cos. Act, 1956. Article is detailed analysis of MCA Circulars, analysis of few landmark rulings, applicability of provisions and requisite compliance.

Disclaimer

Article has been first published by WIRC of of ICSI and Copyright belongs to WIRC of ICSI / ICSI. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither WIRC of ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.

 


January 2012

Decoding Section 299 of the Companies Act, 1956


Sanhita (Monthly Newsletter of Pune Chapter of ICSI)

Section 299 of Cos. Act, 1956 relates to ‘Disclosure of Interest by Directors’. Article contains discussion over few critical terms like ‘directly’, ‘indirectly’, ‘concerned’, ‘interested’, ‘arrangement’, ‘nature of interest’, which are referred. It also contains dicussion over scope of Section 299 Vs Section 297 of Cos. Act, 1956. Also, practical examples are discussed with detailed reasoning for applicability of Section 299.

Disclaimer

Article has been first published by Pune Chapter of ICSI and Copyright belongs to Pune Chapter of ICSI / ICSI. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither Pune Chapter of ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.

 


September 2011

Deciphering Section 4 (7) of the Companies Act, 1956


Sanhita (Monthly Newsletter of Pune Chapter of ICSI)

Section 4 of Cos. Act, 1956 relates to ‘Holding and Subsidiary Co.’ and sub-section (7) determines the status of Indian subsidiary company, where the holding company is ‘body corporate’ (i.e. Company incorporated outside India). Article is a detailed analysis of sub-section (7) of Cos. Act, 1956, wherein the provisions are bifurcated and deliberated in detail.

Disclaimer

Article has been first published by Pune Chapter of ICSI and Copyright belongs to Pune Chapter of ICSI / ICSI. The article has been published on this portal for the benefit of the visitors. Material contained is not intended to replace appropriate professional advice required before acting on any matter. Neither Pune Chapter of ICSI nor Author is responsible in responsible for in respect of anything done or omitted to be done by person in reliance upon contents of published article.