corporate law

Justice Aniruddha Bose of the Calcutta High Court set aside Company Law Board (CLB) order restraining Harshabardhan Lodha from chairing the Annual General Meeting of Birla Corporation. CLB had passed the order on July 21 on a plea of a shareholder of Rameshwar jute mill, a company under the Birla Corporation. The court held that the CLB should hear out ..

Calcutta High Court once again ruled on Friday that financial institutions have the right to repossess vehicles and resell them if a customer does not pay all the instalments.  Justice Partha Sakha Datta was hearing a petition by Pintu Bhattacharya, the manager of GE Capital Transportation Fina..

The Union Cabinet have approved the proposal to amend the National Institutes of Technology Act 2007. The salient features of the amendment are as under: i) Incorporation of Indian Institutes of Science Education and Research (IISER) in the National Institutes of Technology Act 2007; (ii) Need to strengthen existing transitional provisions of the Act; br..

The Delhi High Court reserved its order on a PIL challenging the collection of airport development fee (ADF) from passengers departing from the Indira Gandhi International Airport. A bench composed of Chief Justice A P Shah and Justice Manmohan reserved their order after hearing the arguments from both sides -- the petitioner and respondents Airports Authority of India(AAI)..

In a notification aimed at fine-tuning the fund-raising process of companies, market regulator SEBI on Thursday asked companies to utilise the proceeds from rights issues only after allotment of shares to applicants. The regulator has also trimmed the period of ..

Agents of defaulting financial companies or family members of persons accused in such cases should not be put to criminal trial on the mere allegation that they too canvassed for deposits from customers, the Madras High Court has said.  Justice M Jeyapaul, discharging a woman from a criminal ca..

It’s the beginning of the end for the Monopolies and Restrictive Trade Practices Commission (MRTPC) with the ministry of corporate affairs (MCA) set to notify section 66 of the Competition Act. MRTPC, which was created in 1969, is a quasi judicial ..

On May 20, a six-year waiting period ended with the Central Government notifying some key provisions o..

 Acceding to insurers' request, sectoral regulator IRDA on Tuesday extended the deadline for collection of PAN of every customer paying an annual premium of over Rs 1 lakh by one month to September 1, 2009. "Many insurers hav..

The government is considering a sweeping review of its FDI guidelines following increasing risk of terror funds being parked in the country and other investments fraught with security implications. The National Security Council has, in a secret report, suggested enactment of an umbrella legislation &md..

The government will soon come out with rules for winding up of limited liability partnership (LLP) firms which can be either voluntary or under orders of a tribunal. “We have written to Parliament asking if the winding-up rules can now be notified. A response is expected soon,” a ministry of cor..

Huge towering hoardings erected near beaches or on the seaward side of a road in Mumbai marring the ocean view has come under the scanner of the Bombay high court. A division bench of Justice Bilal Nazki and Justice A R Joshi allowed an application on the issue filed by city gynaecologist Dr Anahita Pandole.  ..

 The Punjab and Haryana High Court’s division bench has reserved the verdict on the PIL, wherein the issue of recent launch of publicity vans by the Haryana government has been raised alleging it was ruling party’s publicity at the state expense.  Chief Justice Tirath Singh Thakur and Justice Kanwaljit Singh Ahluwalia reserved the verdict on the PIL, f..

The Supreme Court has held leading stock broker Hiten P Dalal guilty of criminal conspiracy and receiving stolen property and sentenced him to six months of rigorous imprisonment with a fine of Rs 50,000 for his involvement in the 1992 Securities Scam in which public sector banks were defrauded of crores of rupees. A bench comprising Justices S B Sinha and Cyriac Joseph als..

 Finance Secretary Ashok Chawla said on Tuesday the move to introduce cash-management bills maturing in less than 91 days would provide more flexibility to the government to manage short-term funding mismatches. "It will provide more flexibility for cash management," Chawla told reporters./s..