12 April 2013

Corporate Amicus: July 2012

Merger of business entities not implies any automatic merger of licences or approvals held by the merging entities. This article in "Corporate Amicus" discusses a recent Delhi High Court order on the subject which also talks of jurisdiction of Telecom Dispute Settlement and Appellate Tribunal (TDSAT). Ministry of Corporate Affairs has asked specified companies to file balance sheet and profit & loss account in XBRL mode and Reserve Bank of India has clarified that forex retention limit is not applicable for resident forex accounts. Ratio decidendi this month covers, Competition Commission has imposed huge penalty on cartelization by certain cement manufacturers and Bombay High Court has held that software companies are factories and hence are covered under the ESI Act.

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