In this article/blog, I have discussed whether extant provisions of the Companies Act, 2013 (‘Companies Act’) mandates valuation by Registered Valuer for issuance of redeemable (i.e. non-convertible) preference shares on preferential basis OR for issuance of...
corporate Laws
Share subscription money ONLY through normal banking channels – Whether Company Law mandates such compliance?
Originally, the provisions of ‘Commencement of Business’ was introduced in Companies Act, 2013 but the same was omitted by the Companies (Amendment) Act, 2015. The initial life of the said provision was from April 1, 2014 to May 29, 2015. The said provisions were...
Inappropriate headline for SC’s judgment on lawyer’s service not falling under Consumer Protection Law
This blog is comment/ analysis of headline of newspaper article only, and not on the Supreme Court judgment. Recently, the Supreme Court observed that services by lawyers will not fall under Consumer Protection Act. Though the question posed before SC was, whether a...
Tribute to Rakesh Jhunjhunwala
It's been around 2 months that Rakesh Jhunjhunwala (RJ) is no more... RJ was the first person for me to have some interest in investing finance and Securities Market. On business channels, everyone was talking ‘technical’ concepts then, but RJ was talking companies,...
Amendments to LLP Rules, 2009 – Adjudication of penalties & its impact.
Last week, the LLP Rules, 2009 were amended (effective from April 1, 2022). The amendments are quite significant. One of the amendments relates to adjudication of penalties. Provisions are a bit similar to adjudication under the Cos. Act, 2013. These provisions in the...
Certain provisions of Cos. Act, 2013 applicable to LLP
MCA has issued a Notification (dated Feb. 11, 2022) and has stated that certain provisions of Cos. Act, 2013 will be applicable to LLP (with modifications). This post relates to analysis of the said notification: Provisions of maintaining register of SBO now applies...
SEBI’s rules governing related party transactions requires immediate amendment
3 months back, when the SEBI board approved the proposal, I had mentioned that RPT amendments are made extremely stringent and would require another round of amendment. In fact, on the SEBI consultation paper on RPTs, I had written an article titled - Regulating...
Whether Related Party Transactions really need a relook?
Background: Recently, an article was published in Economic Times on the topic of Related Party Transactions (titled, Related Party deals in Companies Act need a relook). The article was in relation to the Annual General Meeting of Tata Sponge Iron Limited...
Whether examination for aspiring Independent Directors serves any logical purpose?
Background: Government plans to have examinations for individuals who want to become independent directors (‘IDs’) as part of bolstering the corporate governance framework, according to Union Minister P P Chaudhary. While there are stringent provisions under the...