July 2015 issue of Corporate Amicus carries an article containing discussions on the fundamentals of engaging contract labour and the pitfalls that can be avoided to have a congenial environment in the company.
Notifications & Circular portion in this Amicus covers Negotiable Instruments Ordinance, 2015 and information regarding the amendment made in FEMA Regulation relating to issue of security. Ministry of Corporate Affairs has issued a circular clarifying that a company holding a general meeting, after giving a shorter notice of less than 21 days, can also circulate financial statements at such shorter notice. Further, Food Safety and Standards Authority of India (FSSAI) has proposed certain amendments to Food Safety and Standards Regulations, 2011 and this development is highlighted in this issue.
Ratio Decidendi part of this issue of Corporate Amicus covers Supreme Court judgement holding that under Section 138 of the Negotiable Instruments Act, 1881, it is the drawer of the cheque alone that attracts liability. Supreme Court in its other judgement covered in this issue has held that SEBI has jurisdiction in respect of GDRs.July, 2015/Issue-47