Home Highlights October 2011 Year 2011 This

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1. Seeking rectification of register of members of the Company - Even though the Respondents stated that they have inducted the new members with the approval of the Board,...

2. Family dispute over management of a Company - It cannot be disputed that the Company’s Article of Associations (AoA) is more powerful than the MOU and that too not...

3. TDS - u/s 194J and u/s 195 - payment by way of reimbursement to member companies, allowances paid to resident and non-resident personnel and payment to foreign agents -...

4. Oppression and mismanagement - Determination of minimum shareholding for filing complain / petition against the company - The ‘onus’, to establish ‘Membership’ is on the...

5. Right of the Shareholder / Member of Company - The right of a transferee of a share is only to call upon the company to register his name and no more. No rights arise...

6. Acceptance of deposits by companies from its members - conditions relaxed in case of Specified IFSC Public company and a private company - Rule 3 amended

7. Allows conversions into companies from partnership firms, etc. with two or more members provided that in case of less than seven members the conversion would be into a...

8. Articles are internal regulations of a Company. It is a subordinate document to the Memorandum of Association. If companies were unable to alter their memorandum or...

9. If at any time the number of members of a company is reduced below the minimum required members, every person who is a member of the company during the time that it so...

10. Validity of allotment of shares of R-1 Company in favor of R-3 and R-4 - The Articles of Association are binding on the company and its members and also on Board of...

11. Conversion from public to private - alteration of articles - the conversion from public to private is in the interest of the Company which is being made with a view to...

12. NCLT gets 14 new Members as Judicial Member and Technical Member in the National Company Law Tribunal for a period of five years. - Notification

13. Qualifications of Chairperson and Members of Appellate Tribunal (NCLAT) - eligibility for technical members with Supreme Court directives with respect to qualifications...

14. Restoration of name in the register of companies maintained by the Registrar of Companies - annual returns and balance sheets were not filed for almost fourteen years -...

15. Dishonor of Cheque - respondent accused was acquitted principally on the ground that the company was not properly represented - The power of attorney holder representing...