corporate law

SUMMARY OF THE CASE LAW The assessee transferred a capital asset which was received by her by way of gift on 1.2.2003. The previous owner had acquired the capital asset on 29.1.1993. In computing capital gains, the assessee claimed that the indexed cost of acquisition had to be worked out by taking the date of acquisition by the previous owner. The AO rej..

General Motors Co. (OTC: MTLQQ) stunned European government and labor leaders yesterday (Wednesday) when it backed out of a deal to sell a majority stake in its Opel and Vauxhall brands to car-parts supplier Magna International Inc. (NYSE: MGA). GM may now be forced to spend billions to restructure the money-losing business itself as German and Russian le..

Warren Buffett believes in the United States’ economic future, and yesterday (Tuesday) he put his money where his mouth is. Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) acquired railroad Burlington Northern Santa Fe Corp. (NYSE: BNI) in a deal valued at $44 billion, the largest in Berkshire’s history. Berkshire, which already owns 2..

The start of 2008 sees India’s long-awaited competition regime finally taking shape. Under the Competition Act 2002 as amended by the Competition (Amendment) Act 2007 (the Act), India now has a competition regime which governs mergers, cartels and abuse of a dominant position. The Act applies equally to foreign and Indian companies. For ..

How to persuade clients to negotiate (and that they might enjoy it!) In 1906, Jack B. Yeats wrote an article for The Guardian describing the Flat Iron Market in Manchester: "Here you do not stand sourly while a pale-faced short-tempered shopman whirls your purchase into a dexterously twisted screw of pale brown paper and sends your money t..

CHENNAI: Billions of dollars of Indian wealth could be stuck in Swiss bank accounts simply because of the absent-mindedness of their original account holders. Apart from the money that living tax evaders may have stashed away in tax havens, there is a large chunk that is irretrievable simply because those who originally parked the money in these bank accounts have d..

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Chief Justice of India K G Balakrishnan has said that UK law firms could be allowed to operate in India but a final decision in the matter would have to be taken by the Indian Bar Council. "I don't think Indian Bar Council can continue to resist (the proposal to allow foreign law firms to operate in India)," the Chief Justice of India said here last e..

As the primary market regulator Securities and Exchange Board of India (SEBI) has realised the need to not only lay down broadbased framework and regulations, but also actually go into the next level of detail in creating an architecture for monitoring and clarificatory mechanisms. Two recent steps in this regard raise hope. First, SEBI mandated peer review of certa..

The Reserve Bank of India (RBI) may de-license or leave it to banks to open branches in rural and semi-urban centres, in a step towards liberalising its branch authorisation policy. If that happens, it will no longer be compulsory for a bank to open branches in rural and semi urban centres to bolster its application to get a licence to open more branches ..

        I have earlier written some articles dealing the issue of oppression and mismanagement under section 397/398 of Companies Act, 1956. I am of the opinion that the company law is very very complicated world wide in view of its complicated structure, scheme and var..

BASIC UNDERSTANDING AND DEFINITION OF MANAGING DIRECTOR, MANAGER AND WHOLE TIME DIRECTOR span style="color: windowtext; font-fa..

Appointment of a person as a MD who is already MD or Manager of another company s..

  Whether mere non-compliance of the provisions be construed as “Oppression” and “Mismanagement” under Company Law?   div style="margin: 0in 0in ..

  A company is a voluntary association of persons formed for the purpose of business activities. A company has distinct name and limited liability, it is a juristic person having a..