Newsletter - MMJC - Page 12

Introduction: The President of India has promulgated Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 on 4 April 2021 to allow pre-packaged insolvency resolution process (PPIRP) for Corporate Debtors classified as a Micro, Small or Medium Enterprise (MSMEs) under section 7 of the Micro, Small and Medium Enterprises Development Act, 2006. The Ordinance is promulgated to

Why this Discussion Paper: As per the Code of Conduct, Independent Directors (IDs) are expected to pay specific attention on the integrity of financial information and on related party transactions along-with safeguarding the interests of the minority shareholders. Accordingly, the Audit Committee of the board which is responsible for approving related party transactions and for

Section 4 of the Companies (Amendment) Act, 2020 is made effective from 1st September, 2021 vide MCA notification dated 22nd July, 2021. The said amendment is related to providing of new name to a Company by the Central Government, in case the Company is in non-compliance with the provisions of Section 16(1) i.e., name is

Securities and Exchange Board of India (SEBI) has vide its notification dated August 3, 2021 amended various provisions of SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations. All the below quoted amendments are coming into effect from January 1, 2022. Majority of these amendments are brought in pursuant to Discussion Paper on Independent Directors released

Facts of the Case An application under section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) was filed by Worldwide Metals Pvt. Ltd – the Operational Creditor (OC) against the J.P. Engineers Pvt Ltd -corporate debtor for initiating Corporate Insolvency Resolution Process (CIRP) which was admitted by  National Company Law Tribunal (NCLT) on 26

The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (“POSH Act“) was enacted with the objective of providing protection against sexual harassment of women at the workplace and for the prevention and redressal of complaints of sexual harassment and for matter connected therewith or incidental thereto. It is the responsibility of

Facts of the case: Manu Maheshwari (Respondent) had given a loan of Rs. 52,00,000 @ 24% interest to M/s. Independent Disk Mastering, Private Limited (company) through account payee cheque in the name of the company on the request and persuasion by the directors of the company (petitioners) for smooth functioning of business. The company could

SEBI at its Board Meeting held on August 6, 2021 has prima facie agreed to following amendments: 1. New SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021: SEBI has approved the merger of SEBI (Issue of Sweat Equity) Regulations, 2002 (“Sweat Equity Regulations”) and SEBI (Share Based Employee Benefits) Regulations, 2014 (“SBEB Regulations”)

The Limited Liability Partnership (LLP) is an alternative corporate business vehicle. It has advantages of being a body Corporate, but at same time internal governance and inter-se relations among partners and LLP can be regulated by the LLP Agreement and not necessarily by the statutory provisions of LLP Act, 2008 (“the Act”) and Rules issued

Background: Insider trading is essentially the wrong of trading in securities with the advantage of having asymmetrical access to unpublished information which when published would impact the price of securities in the market – has been attracting regulatory attention worldwide. In India, insider trading is not only a tort i.e. a civil wrong but also