The Indian Stamp Act 1899 – Amendments-w.e.f. April 1, 2020
“The amendment propose to create the legal and institutional mechanism to enable states to collect stamp duty on securities market instruments at one place by one agency (i.e. through the Stock Exchanges or Clearing Corporations
SEBI relaxes norms for acquisition of distressed companies
Securities and Exchange Board of India (“SEBI”) relaxed norms for acquiring shares of distressed companies by exempting such acquisition from the mandatory open offer requirements under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations,
PREMIUM CAN NOT BE PART OF CAPITAL EMPLOYED IN THE BUSINESS OF COMPANY
The Supreme Court in its recent judgment ruled that the premium amount collected by the Company on its issued share capital is not a part of the ‘capital employed in the business of the Company’
Insolvency Professional cannot play two roles viz.‘profession’ and ‘employment’ simultaneously
The Insolvency and Bankruptcy Board of India (“IBBI”), the regulatory body constituted under the Insolvency and Bankruptcy Code, 2016 (the “Code”), in its first order rejected an application for registering an Insolvency Professional (“IP”). The
Nomination Vs. Succession
In a recent judgement the High Court of Bombay in Shakti Yezdani v. Jayanand Jayant Salgaonkar [1]ruled that legal heirs and not the nominees will obtain the ownership rights of share certificates, effectively circumscribing the
SARFAESI – DRAT has no Power for Complete Waiver of the Deposit
In a recent judgment[1], the High Court of Bombay held that the Debt Recovery Appellate Tribunal (“DRAT”) had no power to completely waive the deposit required under section 18 of the Securitisation and Reconstruction of
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