The Vodafone case—which, of course, is yet to be finally resolved—has triggered a debate in India about the legality and propriety of retrospective tax legislation. Much has been said about the latter but not very much about the former. One issue that is often contested in relation to legality is whether the retrospective amendment is ‘clarificatory’. The reason this is important is not so much...
Guest Post: Disclosure of Shareholding & Insider Trading Regulations
[The following post is contributed by Yogesh Chande, Associate Partner, Economic Laws Practice. Views are personal] In an order passed by the SEBI Adjudicating Officer against an employee (Noticee) of a listed company, it was held that the “Head of Human Resources” of a particular vertical of the company is also an “officer” within the meaning of the definition of section 2(30) of the Companies...
Guest Post – Company Deposits: New Rules Change The Game
[The following post is contributed by Abhishek Bansal and Stuti Bansal, Corporate Professionals, Advisors & Advocates. The authors can be reached at [email protected] and [email protected] respectively) This post discusses the concept of deposits as provided under Chapter V of the Companies Act, 2013 (hereinafter the Act of 2013) and the Companies (Acceptance of Deposits) Rules, 2014...
Guest Post: MCA Finalises Cost Audit Rules
[The following post is contributed by Nivedita Shankar of Vinod Kothari & Company. She can be reached at [email protected]] Putting all speculation to rest, the Ministry of Corporate Affairs (MCA) on June 30, 2014 finally came out with the final rules relating to cost audit and cost records. Although, the rules are yet to be gazetted, yet the finalized rules have surely given an...
Whether Consent Orders – or rejection of consent applications – are appealable?
Whether SEBI at all had power to settle disputes by Consent Orders has been questioned earlier before Delhi Court and it appears that the matter is still pending. Seemingly to pre-empt this issue, an Ordinance had been passed amending the SEBI Act and related statutes, which Ordinance has been re-issued several times. This issue has been discussed several times earlier in this blog, with this...
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