The Director would not demit their office on account of disqualifications incurred under Section 164 (2) of the Act by virtue of Section 167(1)(a) of the Act…… Read more “Whether the provisions of Section 167(1)(a) of the Act are applicable in respect to offices of Directors, who have incurred the disqualification under Section 164(2) of the Act?”
Author: Deep Vaghela
Deep Vaghela is the proprietor of Deep Advisory Services.
He had worked with big corporates and has expertise in handling corporate litigations, public issues and also provide advice on Company Law, SEBI Law, M&A, Takeover, Insider Trading, FEMA, Taxation and other allied Corporate Laws.
He is Fellow member of the Institute of Company Secretaries of India (ICSI), Master of Business Administration (MBA) specializing in Finance and also pursuing Legum Baccalaureus (LLB).
Whether the Directors of a Company, which in default of clauses (a) and (b) of Section 164(2) of the Act, are disqualified from being re-appointed as Directors in other non-defaulting companies?
No person who is or has been a director of company shall be eligible to be re-appointed as a director of ‘that company’ or appointed in any…… Read more “Whether the Directors of a Company, which in default of clauses (a) and (b) of Section 164(2) of the Act, are disqualified from being re-appointed as Directors in other non-defaulting companies?”
For Section 34 application, cross-examination of persons swearing to the affidavits should not be allowed unless absolutely necessary
The legal position under Arbitration Act is clear that Section 34 application will not ordinarily require anything beyond the record that was before the arbitrator and that…… Read more “For Section 34 application, cross-examination of persons swearing to the affidavits should not be allowed unless absolutely necessary”
SEBI Issues Clarifications on Insider Trading Regulations
FAQs were issued with an aim to streamline existing ambiguities in interpretation of certain aspects of the insider trading regulations. SEBI clarified through FAQs certain matters related…… Read more “SEBI Issues Clarifications on Insider Trading Regulations”
Applicability of whistle blower to the holder of any judicial office
A protected disclosure under Employment Rights Act applies to judicial officer and it shall not be subjected to any detriment for doing so and for complaints to…… Read more “Applicability of whistle blower to the holder of any judicial office”
Can SEBI grant exemption for Open Offer to Acquirer under Takeover Regulations?
In terms of Regulation 11(5) of the Takeover Regulations, SEBI has power to grant exemption to the Proposed Acquirer from complying with the requirements of Regulations 3,…… Read more “Can SEBI grant exemption for Open Offer to Acquirer under Takeover Regulations?”
Whether in a liquidation proceeding under I&B Code, the Scheme for Compromise and Arrangement can be made in terms of Sections 230 to 232 of the Companies Act?
The Appellate Tribunal state that in Liquidation proceeding under I&B Code, a petition under Section 230 to 232 of the Companies Act is maintainable. In the matter…… Read more “Whether in a liquidation proceeding under I&B Code, the Scheme for Compromise and Arrangement can be made in terms of Sections 230 to 232 of the Companies Act?”
Can the matter at NCLT be heard by two Hon’ble Members and order pass by Single Member?
As per rule 152 of NCLT Rules, 2016, if the Members of the Bench who heard the case are not readily available or ceased to be Members…… Read more “Can the matter at NCLT be heard by two Hon’ble Members and order pass by Single Member?”
Determination of various entities as connected entities
The inter se connections of various entities are established from common addresses, KYC documents, common directorship and off market transfers. SEBI, through its Whole time Member, in…… Read more “Determination of various entities as connected entities”
Does Tribunal have power to dispense with the meetings of Shareholders and Creditors in a scheme of arrangement or amalgamation?
Section 230(9) provides power to the Tribunal for dispensation of such meetings and Tribunal is required to exercise its discretion in accordance with the legal precedents. The…… Read more “Does Tribunal have power to dispense with the meetings of Shareholders and Creditors in a scheme of arrangement or amalgamation?”
