Home Highlights June 2018 Year 2018 This

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1. Oppression and Mismanagement - allotment of shares - continuation as additional (3rd) director after 26.9.2010 is not as per law as was not regularised in AGM - Board...

2. Meetings of Board - participation of directors allowed on certain items at Board meetings through video conferencing or other audio visual means if there is quorum...

3. Aggrieved Persons - removal of nominee director of the Corporate Debtor - powers of Directors in a ‘Compulsory Liquidation’ - There is no simmering doubt that the...

4. Absence from three consecutive Board meetings with out obtaining leave of absence - Automatic cessation under section 283(1)(g) of the Companies Act 1956 - there is an...

5. Director who does not possess DIN would not be legally entitled to participate in the proceedings of the meeting of Board of Directors. Consequently, a resolution passed...

6. Contribution for allotment of equity shares - This Bench is of the view that whether a company is in genuine need of more capital or not, and the route to be adopted for...

7. Levy of fine / penalty - Failure to file the copies of the Annual Returns with the Registrar of Companies, Maharashtra, Mumbai within prescribed time - bona fide delay...

8. Cessation of directorship of the 3rd respondent - seeking approval of e-Form DIR-12 filed by the petitioner - The petitioner company, through its Board of Directors and...

9. Disallowance - excess consumption of Tendu leaves - AO's addition 1/3rd, was found to be reasonable - HC

10. Validity of time limit for ailing benefit of input tax credit (ITC) - Section 16(4) of the CGST Act - The provision contained in Section 16(4) of the CGST Act is...

11. Interest u/s 234B - The term “assessed tax” has been defined in Explanation-1 of Section 234B (1). As per said Explanation-1 “assessed tax” means the tax on the total...

12. Oppression and mismanagement - It is admitted fact that the major portion of the equity shares (2/3rd) are held by the 1st and 3rd petitioners and the 2nd Respondent...

13. Companies (Meetings of Board and its Powers) Amendment Rules, 2019

14. Interest on refunds - interest would be payable after the period specified in clause (a) to sub-section (3) to Section 38 of the Act i.e. the date on which the refund...

15. Penalty u/s 271 AAB or u/s 271 (1)(c) - concealment on income - as per clause (2) of section 271AAB, no penalty under the provisions of clause (c) of sub-section (1) of...