This May, 2015 issue of Corporate Amicus features an article discussing certain legal issues which potential Joint Venture (JV) partners must tackle at the stage of finalizing the transaction structure. Notification section includes amendments in Companies Incorporation Rules which have come into force from 1-5-2015. The new Rules provide for reduced penalty on One Person Company. Further, SEBI has notified four disclosure forms for the purpose of various disclosures under Rules 6 and 7 of the SEBI Regulations, 2015, and revised guidelines of power generation in Special Economic Zones (SEZ) have been issued by Ministry of Commerce.
Ratio Decidendi portion in this issue covers Supreme Court decision finding creation of Company Law Appellate Tribunal, as valid. The court, however directed certain amendments in the Companies Act, 2013. Madras High Court decision on the issue relating to jurisdiction of Company Law Board in the dispute involving sale of shares of Indian company by a foreign company abroad is also covered in this issue along with Competition Commission of India (CCI) order in respect of an agreement made prior to 20-5-2009.