Scope of ‘Any other person’ under Companies Act, 2013
By Noorul Hassan
In two recently delivered orders of the National Company Law Tribunal (NCLT), the question under consideration was whether a person who is unable to demonstrate having an ‘interest’ in the affairs of a company, is entitled to obtain copies of such company’s statutory registers. This question gives rise to the re...
E-Waste (Management) Rules, 2016 – Highlights
By Sudeep Deshmukh
The Central Government has notified the E-Waste (Management) Rules, 2016 (the EWM Rules, 2016) which supersede the E-Waste (Management and Handling) Rules, 2011, (the EW Rules, 2011). The EWM Rules, 2016, have come into force from 1st October 2016.
The EWM Rules, 2016, apply to every manufacturer, producer, consu...
Stamp Duty issues in slump sale transactions
By Rohit Subramanian and Neeraj Dubey
Slump sale is a commonly used method of business acquisition wherein an undertaking as a “going concern”is transferred from one entity to ano...
Mergers & Acquisitions provisions notified in Companies Act
By Kanika Shukla and Vidhi Aggarwal
The Companies Act, 2013 (Companies Act) is one of the landmark legislations enacted in recent years to bring forth transparency, ease of doing business and protecting rights of minority shareholders. The Companies Act was, in many ways, perceived as a reaction to the Satyam scam which uncovered...
Benami Transactions (Prohibition) Act - A Study in Comparison
By Barnik Ghosh and Sreya Bhar
In a further crackdown on the parallel economy that has affected the Indian economy adversely, the Central Board for Direct Taxes (CBDT) on November 1, 2016 has notified the Benami Transactions (Prohibition) Amendment Act, 2016 (Amendment Act). The Amendment Act brings within its purview ...
Stamp duty payable on scheme of Amalgamation
By Prashanth Shivadass
A recent Bombay High Court judgement [ see end note 1] sparked a debate amidst corporate lawyers on the issue of stamp duty payable on the order sanctioning the scheme of amalgamation where the transferor and transferee companies have registered offices in two different States in India.
A primer on e-commerce business and related laws in India
By Venkata Raghavan
E-commerce, in recent times, has mushroomed and has now touched all forms of business transactions in the country. Due to the ease, safety, security and convenience provided by electronic payment systems, E-wallets or mobile wallets have taken over the traditional system of payments.
The latest Consolidated Fore...
Real Estate (Regulation and Development) Act, 2016 – A Comment
By Anup Koushik Karavadi
The land-population disparity heralded great demand in the real estate sector in India. This demand clubbed with the dearth of a proper vigilance mechanism ramified the real estate sector into a money minting ground.
Conscious of the growing need to regulate the real estate sector and regulated private participatio...
Agreement in Restraint of Legal Proceedings – Is your Bank Guarantee valid?
By Sudish Sharma & Nikhil Singal
The original text of Section 28 of the Indian Contract Act, 1872, which voids agreements made (or containing clauses) in restraint of legal proceedings, has been subject to many amendments over the years. In fact, in 1997, the original Section 28 was replaced with a new one, after taking into consideration the...
Corporate Insolvency Procedure – A Comment
By Anup Koushik Karavadi
Background and need
From the Justice Eradi Committee report of 1999 to the Department of Financial Services’ indicator of October 2015, the pendency of winding-up cases in India has been piling up to reach an alarmingly high level of backlog [see end note 1]. The World Bank h...
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