ArchiveFebruary 2014

CSR Provisions Soon to be Effective

The provisions of the Companies Act, 2013 and the rules thereon pertaining to corporate social responsibility (CSR) have been notified yesterday. They will take effect from April 1, 2014. A copy of the rules as notified is available here. As for the specific CSR activities, Schedule VII of the Companies Act containing the list of permitted activities has been amended. While we will have occasion...

Ten Monsters in the Companies Act, 2013 – Part 3

[The following post, which is the third in a three-part series, is contributed by Vinod Kothari of Vinod Kothari & Co. The author can be contacted at vinod@vinodkothari.com This follows Parts 1 and 2] 7.         Casual approach to special majority rule Let us realise that Companies Act was...

Ten Monsters in the Companies Act, 2013 – Part 1

[The following post, which is the first in a three-part series, is contributed by Vinod Kothari of Vinod Kothari & Co. The author can be contacted at vinod@vinodkothari.com] The significance of the corporate sector to the economy does not need any emphasis, and the Companies Act is surely the core legislation that affects the...

Consolidating Secondary Market Disclosures

(This post has been authored by, and is uploaded on behalf of, Professor Umakanth) As we have previously observed on this Blog, there is a considerable divergence between the requirements of disclosure in the primary markets and those in the secondary markets. While SEBI has progressively expanded the requirements of primary market disclosures through the SEBI (Issue of Capital and Disclosure...

The arbitrability of fraud in India

Last month, the Supreme Court decided an important point relating to the arbitrability of fraud. Against the backdrop of a complicated set of facts, the Court was called on to consider whether Indian Court proceedings could be stayed pursuant to section 45 of the Arbitration and Conciliation Act 1996 in favour of a foreign-seated arbitration, in cases where allegations of fraud fell to be...

Close Connection and The Test of Vicarious Liability in Indian Law

Every first-year law student in Indian and English law schools is taught the famous ‘Salmond’ test of ‘course of employment’ for the purposes of vicarious liability in tort: was the employee’s wrongful act either actually authorised by the master or an unauthorised mode of doing an authorised act? This test survived for many years and works well in the vast majority of cases. But like other...

SEBI Announces Corporate Governance Reforms

(The following post has been written by, and uploaded on behalf of, Professor Umakanth) Over a year ago, SEBI had issued a consultation paper that suggested several reforms to corporate governance norms in India that are contained in clause 49 of the listing agreement. The primary purpose of SEBI’s effort was to integrate the stipulations of clause 49 with the then prevailing clauses of the...

SEBI ICDR (Amendment) Regulations, 2014

[The following post is contributed by Shampita Das of Vinod Kothari & Co. She can be contacted at shampita@vinodkothari.com] On 4 February 2014, SEBI issued a Notification amending the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (‘ICDR Regulations’) to make grading of an initial public...

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Recent Posts

Topics

Recent Comments

Archives

web analytics