Home Highlights December 2015 Year 2015 This

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1. Annual general meeting - the 7th to 12th annual general meetings of the company could not be held. On 28th May, 2008 the company issued notices for holding these annual...

2. Annual general meeting - unlisted companies enabled to convene Annual General Meeting at any place in India with the approval of all shareholders obtained in advance -...

3. Valuation – joint venture – related parties - merely by holding 40% equity by the foreign company, Indian company cannot become a related person to the foreign company - AT

4. Audit Committee - to provide for ratification by audit committee of transactions involving amount not exceeding one crore rupees within 3 months of transaction,...

5. CIRP - discrimination of Related Party Financial or Operational Creditor - IBC treats related parties as a separate category for specified purposes, excluding from the...

6. CIRP proceedings - Financial Creditors - Related party - while the default rule under the first proviso to Section 21(2) is that only those financial creditors that are...

7. Related party transactions - non-ratification of transaction shall be voidable at the option of the Board or shareholders, as the case may be - Section 188(3) of the...

8. Valuation - related party transaction - The transaction of ₹ 5 lakhs as loan on payment of interest cannot be the reason for holding partnership and private...

9. Oppression and Mismanagement - The Related Party Transactions done by the Respondents are contrary to the provisions of law and in breach of the Articles of Association...

10. Disallowance u/s 40(A) - related party transaction - merely because there was an Agreement between the Assessee Company and the related party or the partnership firm,...

11. Related party transactions - restriction on vote - second proviso to section 188 (1) shall not apply to a company in which ninety per cent. or more members in numbers...

12. Penalty u/s 271AA - failure to make disclosures, as required u/s 92E - as to whether SPMCECL was a related party is an issue qua which there can possibly be more than...

13. Notice of meeting - Annual general meeting may be held at a shorter notice if in case of an Annual General Meeting consent is given by not less than ninety-five percent....

14. Transaction value - Valuation (Customs) - Special or abnormal discount to the related buyers which were in excess of 3% discount - The Appellate Tribunal observed that...

15. Validity of deed of assignment - Related Party - if the Assignor of a debt is a Related Party of the Corporate Debtor, as per the ratio laid down by the Hon'ble NCLAT,...