Background: XYZ Private Limited has two directors in the board. Director A and Director B. One CEO C. It has two members (subscribers of shares), they are CEO C and Director A who hold 97% and 3% of shares respectively. As...
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Experts & Views
Yesterday, the Supreme Court delivered its first verdict in a series of legal challenges that have been made against the Aadhaar project.[1] In the present matter, the court was examining whether a provision of the Finance Act, 2017 that made...
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The Supreme Court delivered its judgment in the constitutional challenge to Section 139AA of the Income Tax Act today. Brought in by way of an amendment in April this year, this provision made it mandatory for all taxpayers to quote...
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It seems we live in an independent director-bashing era. News articles, blogs, scholarly write-ups are replete with criticism relating to independent directors, whether it’s to do with their appointment, ‘true’ independence, removal, resignation or generally their very existence! Anything remotely...
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©Cyril Amarchand Mangaldas
by sflc_admin | June 2, 2017Software Freedom Law Centre, India (SFLC.in), along with Democratic Alliance for Knowledge Freedom (DAKF), is organizing a panel discussion titled, “Tech Policy Talks” on Saturday, June 3, 2017, from 10:00 -13:00 (10 AM...
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©Republished under Creative Commons Attribution-ShareAlike 3.0 Unported (CC BY-SA 3.0) Licence
Recently there have been news reports about the NITI Aayog submitting its recommendations on improving the financial health of Air India to the Ministry of Finance.[1],[2] The Civil Aviation Ministers have also mentioned that the Ministry will soon propose a...
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by sflc_admin | May 29, 2017(image credit: inmediahk)SFLC.in joined 17 other non-governmental organisations from across the globe as amicus in a voluntary intervention filed before France’s highest court, the Council of State (Conseil d’État), raising serious concerns about a...
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©Republished under Creative Commons Attribution-ShareAlike 3.0 Unported (CC BY-SA 3.0) Licence
by Saniya MiraniThe Indian judiciary resorts to two types of aids in interpreting a statute – internal and external aids to interpretation. Internal aids include the preamble, marginal notes, and headings of the relevant statute, etc., while external aids include...
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Over the last two months, the centre and over 15 states have passed laws to levy the Goods and Services Tax (GST). Under these laws, tax rates recommended by the GST Council will be notified by the government. The Council...
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‘I have read and agree to the terms’ is commonly regarded as one of the biggest lies on the Internet. In 2014, a company called F-Secure put this to test and set up a free Wi-Fi hotspot in London. One...
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Until recently, whilst it was possible for a foreign company to merge with an Indian company, it was not possible for an Indian company to merge with a foreign company within the court sanctioned merger framework set out under Indian...
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©Cyril Amarchand Mangaldas
The Securities and Exchange Board of India (SEBI) recently issued an informal guidance in response to a request for an interpretive letter from Kotak Mahindra Bank Limited (KMBL) on the continual disclosure requirements under the SEBI (Prohibition of Insider Trading)...
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©Cyril Amarchand Mangaldas
In a recent paper presented at the Conference on Dispute Management in Infrastructure Projects: New Challenges, May 19-20, 2017, Vigyan Bhawan, New Delhi, this blawgger argues that even after the 2015 amendments, there has not been a marked change in the way...
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In a landmark judgment recently delivered by the National Company Law Appellate Tribunal (NCLAT) in the case of Innoventive Industries Limited v. ICICI Bank Limited, the NCLAT has held that the National Company Law Tribunal (NCLT) is bound to issue...
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©Cyril Amarchand Mangaldas
by sflc_admin | May 19, 2017The petition against notifications making Aadhaar mandatory for social welfare schemes- Shantha Sinha & Anr. v. Union of India [W.P. (C) 342/2017] was taken up in the Supreme Court today before a bench of...
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©Republished under Creative Commons Attribution-ShareAlike 3.0 Unported (CC BY-SA 3.0) Licence
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