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Media - MMJC - Page 3
February 6, 2023
Govt to become largest shareholder in Vi post conversion of AGR dues to equities for ₹16,133 cr
The government has passed an order to convert adjusted gross revenue (AGR) dues of telecom services provider, Vodafone Idea into equities for nearly ₹16,133.2 crore. This conversion of AGR dues into equities is likely to make the Centre the largest shareholder in the loss-making telecom services provider. “Though the government stake in Vodafone Idea will rise
February 3, 2023
Co-ordination amongst company’s internal departments: A Necessity
The synonymous usage of the terms `Pledge’ and ‘Encumbrance’ while recent reporting on Adani-Ambuja-ACC funding deal led to an obscure narrative followed by a disruption on the bourses in these stocks. This was due to one source stating Adani entering NDU (non-disposal undertakings) with lenders for shares of Ambuja, ACC whereas another source stated Adani
January 6, 2023
Independent Directors must guard themselves u/s 463 to justify their Board decisions
The onus to curtail corporate frauds and risks without doubt lies on the IDs to use their wisdom in decision making by balancing between trust and inspection as a tool. Section 463 safeguards independent directors if they have acted honestly and reasonably and relieves them, either wholly or partly, from the liability. Our Partner – Makarand
September 29, 2022
Changes introduced by the CSR Amendment Rules 2022
Corporate Social Responsibility (“CSR”) is mandatory in India for companies exceeding certain thresholds of net worth, turnover or profits. On September 20, 2022 the Ministry of Corporate Affairs (MCA/Ministry) notified various amendments to the Companies (Corporate Social Responsibility Policy) Rules, 2014. The amendments and its practical implications are as follows: 1. CSR Committee Section 135(9)
September 24, 2022
Reducing Compliance Burden – Widening of Small Companies Definition
1. Introduction: The Companies Act, 2013 has categorized certain companies into smaller companies based on their paid-up capital and turnover thresholds, so as to give various relaxations from compliance. These thresholds have now been widened to accommodate more companies under the ‘small company’ bracket. 2. Amendment: On 15th September 2022 Ministry of Corporate Affairs (“MCA”)
September 23, 2022
Centre Relaxes Paid-Up Capital Threshold For “Small Companies”
The Corporate Affairs Ministry (MCA) had relaxed the paid-up capital threshold for small companies to decrease the compliance burden and enhance the ease of doing business. According to our Partner, Makarand Joshi – “The relaxation in paid-up capital will allow around 80-90 percent of the total registered companies to fall under this category. Apart from
September 23, 2022
Adani Encumbers $13 Billion Stake in Newly Bought Cement Units
Billionaire Gautam Adani’s group set aside shares valued at about $13 billion in two Indian cement firms as part of a lending agreement. Stakes in two of those companies — about 57% of ACC Ltd. and 63% in Ambuja Cements Ltd. — have been encumbered “for the benefit of certain lenders and other finance parties,”
September 23, 2022
CSR exemption for firms making losses; eligibility to be checked every year
Ministry of Corporate Affairs (MCA) has amended the CSR rules by relaxing certain provisions while giving more impetus to impact assessment for companies falling under the CSR ambit. The amended rules have given relaxation to large companies doing CSR and who are mandatorily required to undertake impact assessment. Amended rules now allow up to 2%
September 22, 2022
The advent of the Social Stock Exchange (SSE) in India
The advent of the Social Stock Exchange (SSE) in India The manoeuvre towards setting up an SSE began in July 2019, when India’s Finance Minister proposed the same as a way to elevate capital, through debt, equity or mutual funds, for enterprises working to advance social welfare. The establishment of SSE is under the jurisdiction of the
August 27, 2022
Another Step towards simplification – Overseas investment rules and regulations notified
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