Tag: Company Law

Arbitrability of an Unfair Prejudice Claim (Part I)

February 18, 2012

A recent post considered the relation between arbitration and company law, in the context of the inability of arbitration to develop the body of corporate law jurisprudence. Another fascinating area of substantive overlap, is the arbitrability of company law disputes, which the UKCA in Fulham v David Richards was called on to consider in relation…
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More on CSR and the Companies Bill

February 1, 2012

We had earlier discussed the half-way house approach adopted by the Companies Bill, 2011 regarding corporate social responsibility (CSR), whereby CSR spending was not intended to be mandatory, but disclosure thereof was. It appears that there is continued resistance to this approach, and that the Parliamentary Standing Committee reviewing the Bill proposes to look at…
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Companies Bill, 2011: Layering of Subsidiaries

December 27, 2011

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Companies Bill: Stalled in Parliament?

December 23, 2011

Newspaper reports (here, here and here) suggest that the Companies Bill has run into some rough weather, with indications that it might be referred to the Standing Committee for further review. This is surprising as well as disconcerting, as it comes within a week of the Government presenting the Bill in Parliament. It represents further…
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Amendments to Preferential Allotment Rules

December 21, 2011

(I would like to thank my colleague, Mr. Saiyam Chaturvedi for his invaluable research.) The Sahara case has led to certain amendments being made to the Unlisted Public Companies (Preferential Allotment) Rules, 2003 (the “Rules”). While the Sahara case itself has seen itself being argued and debated across various judicial fora over the last couple…
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Companies Bill, 2011: Amalgamation and Corporate Restructuring

December 21, 2011

The provisions of the Companies Act, 1956, specifically sections 391 to 394, contain an elaborate framework that enable companies to give effect to arrangements and compromises with their shareholders and creditors. The expression “arrangement” has interpreted to include a wide range of transactions, such as mergers, demergers and other forms of corporate restructuring (including debt…
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Companies Bill, 2011: Class Actions

December 18, 2011

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Companies Bill, 2011: Duties of Directors

December 17, 2011

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Companies Bill, 2011: Independent Directors

December 17, 2011

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Companies Bill, 2011: CSR

December 16, 2011

It is believed that the treatment of corporate social responsibility (CSR) was one of the key sticking points that delayed the Companies Bill, 2011. Now that there is some clarity, it would be useful to examine the relevant provisions. Clause 135 read with Schedule VII of the Bill deal with the concept of CSR. A…
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