Tag: Company Law
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Independent Directors in Private Debt-Listed Companies
[The following guest post is contributed by Niddhi Parmar of Vinod Kothari & Co.] Earlier under Companies Act, 1956 (section 2(23A)) the term “listed public companies” was in a manner that clearly excluded private companies. Consequently, listed private companies were exempt from certain provisions that were exclusively applicable to listed public companies. However, the Companies…
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GNLU Moot on Securities and Investment Law
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Status of Subsidiary Private Companies in India – Cross Border Holdings
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Call for Papers: Journal on Corporate Law & Governance
[The following announcement is posted on behalf of The Centre for Corporate Governance at National Law University, Jodhpur] The Centre for Corporate Governance at National Law University, Jodhpur is proud to announce the launch of Volume II Issue 1 of its Journal on Corporate Law Governance, 2015-16. This issue is focused on recent legislative changes…
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Bombay High Court on Share Transfer Restrictions
The question of whether transfer restrictions imposed by agreement on shares of a listed company are enforceable has been a vexed one. Numerous decisions of the Supreme Court as well as High Courts had expressed somewhat different views on the nuances of the issue. However, some stability was brought about in 2010 by a decision…
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Exemptions to Government Companies: A Corporate Governance Perspective
[The following post is contributed by Shriya Jain, Fourth year student & Param Pandya, Fifth year student of Gujarat National Law University, Gandhinagar, Gujarat. The authors can be contacted at shriyaj11@gnlu.ac.in & paramp10@gnlu.ac.in respectively]. A government company is defined under section 2(45) of the Companies Act, 2013 (‘2013 Act‘) as a company in which not less…
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MCA’s Exemption Notification for Government Companies
[The following guest post is contributed by Vinita Nair of Vinod Kothari & Co. The author may be contacted at vinita@vinodkothari.com.] By way of a notification dated June 5, 2015 exempted Government companies, private companies, section 8 companies and nidhi companies from complying with certain provisions of the Companies Act, 2013 (“Act, 2013” or “Act”…
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Bombay High Court on Enforcing Articles and Board Nomination Rights
The last few years have witnessed a dispute between two families that relate to the right to nominate directors to the board of Yes Bank. Earlier this week, the Bombay High Court issued its judgment in Madhu Kapur & Ors. v. Rana Kapoor & Ors., which seeks to resolve the dispute – at least temporarily…
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Finally, Some Exemptions to Private Companies
[The following guest post is contributed by Vinod Kothari and Aditi Jhunjhunwala of Vinod Kothari & Co. The authors may be contacted at vinod@vinodkothari.com and aditi@vinodkothari.com respectively.] The 9-lakh (0.9 million) odd private companies in India have already been subjected to unprecedented compliances required under the Companies Act, 2013 (the “Act”) given the financial year-end…
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Committee to Review the Companies Act
Although the Companies Act, 2013 is brand new and yet to be brought into force in its entirety, there is already a lot of discussion about the need to reevaluate the legislation. The Government has taken initial steps to address some of the issues by way of the Companies (Amendment) Act, 2015. However, as we…
