Non-Resident Indians can hope to cast votes in their home country as the Rajya Sabha on passed a bill to provide them voting rights. “We are not doing them any charity,” Law Minister M Veerappa Moily said, while replying to a brief debate on a bill that seeks to amend the Representation of Peoples Act. [...]
Archive for the ‘Company Law’ Category
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Procedure on Corporate Take over
Posted by admin on August 29th, 2010
SEBI Committee Suggests Compulsory Open Offer of 100 Per Cent Shares of Target Company SEBI had constituted a Committee called the “Takeover Regulations Advisory Committee (TRAC)” which has recommended amendments to the procedure for corporate acquisitions. The mandate of the committee was to examine and review SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 [...]
Govt likely to introduce DIN from July next year
Posted by khyati on August 20th, 2010
The government proposes to allot an identification number, which would be quoted on every income-tax related communication, from July one next year, Parliament was informed. “The government proposes to allot the Document Identification Number (DIN)… An income tax authority is required to allot a computer generated DIN on or after July 1, 2011, before issue [...]
Govt to streamline PSUs independent directors’ appointment
Posted by khyati on August 20th, 2010
The government is streamlining the process of appointment of independent directors in Public Sector Undertakings (PSUs), a senior government official said. “We are in the process of shaping a note that actually gives timelines to each part of the process (for appointment of independent directors),” Department of Public Enterprises Secretary Bhaskar Chatterjee told reporters on [...]
Govt ready to engage SFIO for bad loan recovery
Posted by khyati on August 20th, 2010
A day after the Supreme Court suggested that SFIO could help banks in recovering bad loans, the government said it would look into the possibility of engaging the corporate fraud probing body to deal with the menace of non-performing assets. “There is no problem. If Supreme Court gives a specific instruction, then SFIO can do [...]
ICAI opposition on ‘management’ tag for costing body may delay LLP
Posted by khyati on August 19th, 2010
The differences between the professional bodies of chartered accountants and cost accountants could delay the amendments to their respective acts, which are necessary for setting up of big and multi-functional professional firms in the country. The Institute of Chartered Accountants of India, or ICAI, has opposed one of the clauses of the amendment that has [...]
