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April 2016

Corporate Amicus: February 2016

Article

Conciliation for settling family disputes-

Globally, alternative dispute resolution is slowly, but steadily becoming the preferred mode for settling disputes. This article examines the scope of alternative dispute resolution mechanism in resolving family disputes in India and the viability of expanding the scope and functions of the family courts in India. Considering provisions contained in the Civil Procedure Code; Hindu Personal Laws and Special Marriage Act; Muslim Personal Laws; and the Family Courts Act, 1984, the author is of the view that there has been a conscious effort to ensure settlement of family disputes by means of ADRs. According to the author, greater awareness is required about the usefulness of ADRs in the Indian society.

 

Notifications & Circulars

  • Foreign investment in Indian companies — Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 amended to insert definition of “manufacture” and to amend definition of “Ownership and Control”
  • Start-up India initiative — DIPP defines “Start-up”
  • Acquisition of shares or voting rights — SEBI allows exemption from certain restrictions to promoters or shareholders in control
  • Investments in debt instruments — SEBI restricts investments by mutual funds

 

Ratio Decidendi

  • Continuance of MD who is over 70 years of age – Special Board resolution required even if MD appointed prior to implementation of new restrictive provisions contained in Companies Act, 2013 — Bombay High Court
  • Competition law – Contradictory reports on market share show vibrant competitive landscape — Competition Commission of India
  • Sanction of demerger of company – Court cannot negate other laws — Rajasthan High Court

 

February, 2016/Issue-54 February, 2016/Issue-54

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