Newsletter - MMJC - Page 17

Provisions of Section 149, 197, and Schedule V of the Companies Act, 2013 (‘the Act’) deal with remuneration of Directors of the Company. Since the time Companies Act 1956 got replaced with Companies Act 2013, situation has been very dynamic as there have been as good as 20 changes in Section 197, Schedule V and

The petition was filed by M/s. Omega Properties Private Limited – the Operational Creditor (OC)  under section 9 of Insolvency and Bankruptcy Code, 2016 (IBC/Code) seeking admission of the petition, initiation of Corporate Insolvency Resolution Process (CIRP), granting moratorium and appointment of Interim Resolution Professional as prescribed under the Code and Rules thereon. Prajay Properties Private

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 workplace and for the prevention and redressal of complaints of sexual harassment and for matter connected therewith or incidental thereto. Constitution of Internal Committee Under the

Facts of Case and allegations: SEBI conducted investigation into trading pattern of Marksons Pharma Ltd (‘MPL’). During examination SEBI observed that certain employees of MPL, who were also “designated persons” of MPL, had executed contra trades in violation of Clause 10 of the Code of Conduct as per SEBI (Prohibition of Insider Trading) Regulations, 2015

Securities and Exchange Board of India (SEBI) vide its notification dt: 26 April 2021 has amended Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 [PIT 2015/PIT regulations]. Vide this amendment SEBI has omitted Regulation 7(1)(a) of PIT 2015. Prior to amendment Regulation 7(1)(a) of PIT 2015 read as follows, “Every promoter,

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