Tag: Corporate Law

Ministry of Corporate Affairs identified 2,38,223 shell companies between 2018-2021

Posted by on in Corporate

There is no definition of the term “Shell Company” in the Companies Act and it normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purpose such as tax evasion, money laundering, obscuring ownership, benami properties etc. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha today.

Corporate and Securities Laws-LLM-Osmania University

Posted by on in syllabus

Formation, Registration and Incorporation of company : Nature and kinds of company - Promoters: Position, duties and liabilities - Mode and consequences of incorporation, - Uses and abuses of the corporate form, lifting of corporate veil, - Memorandum of Association, alteration and the doctrine of ultra vires, - Articles of association, binding nature, alteration, relation with memorandum of association, doctrine of constructive notice and indoor management-exceptions.

Draft Amalgamation Scheme of Lakshmi Vilas Bank Ltd. with DBS Bank India Ltd-2020

Posted by on in BANKING

If on the Appointed date any cause of actions, suit, decrees, recovery certificates, appeals or other proceedings of whatever nature is pending by or against the transferor bank before any court or tribunal or any other authority (including for the avoidance of doubt, an arbitral tribunal), the same shall not abate, be discontinued or be in any way prejudicially affected, but shall, subject to the other provisions of the Scheme, be prosecuted and enforced by or against the transferee bank.

Cabinet approved to convert Ordnance Factory Board into a corporate entity

Posted by on in Corporate

The Department of Defence Production has been continually engaging with the Federations and Associations of Ordnance Factories with regard to their views on the said transformation. An Empowered Group of Ministers (EGoM) has been constituted under the chairmanship of Minister of Defence to oversee and guide the entire process of corporatisation of OFB, including transition support and redeployment plan of employees while safeguarding their wages and retirement benefits.

Corporate Social Responsibility under Companies Act 2013

Posted by on in Corporate

In terms of the Companies Act 2013 companies are required to contribute 2% of their profit towards Corporate Social Responsibility (CSR). Training to promote sports, creation and maintenance of sports infrastructure, up gradation and renovation of existing sports facilities, Sports Science support including setting up of Gymnasium & Rehabilitation centers are activities covered under CSR.