Knowledge Connect is a monthly newsletter published by R & A Associates .
May'2012 Issue, Vol 14

 Article of the Month

Article on Buy Back of Securities by Private Limited Companies and Unlisted Companies Prior to the amendment of the Companies Act, 1956, buyback of securities in India was prohibited. Section 77 of the Act, imposed a blanket ban on companies from buying their own securities... read more >>

 Updates & Amendments 

  • Name availability Guidelines, 2011
  • MCA vide Notification No G.S.R.(E) dated 17.04.2012
  • Establishment of Connectivity with both depositories NSDL and CDSL –Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement
  • Amendments to the Equity Listing Agreement – Formats for Disclosure of Financial Results
  • Processing of investor complaints against companies applying for listing of debt securities in SEBI SCORES system
  • Processing of investor complaints against listed companies in SEBI Complaints Redress System (SCORES)
  • Timeline for submission of Annual Audited Financial Results for Financial Year 2011-12
  • External Commercial Borrowings (ECB) for Civil Aviation Sector
  • External Commercial Borrowings (ECB) Policy – Liberalisation and Rationalisation
  • External Commercial Borrowings (ECB) Policy – Refinancing / of ECB (Revised)
  • Overseas Direct Investments – Liberalisation / Rationalisation

 Legal Jargons

De novo:
Meaning: anew. Used to refer to a trial which begins all over again, as if any previous partial or complete hearing had not occurred.
Example: A District Court appeal is heard by the Circuit Court de novo, with the court considering afresh all the law and facts.
Pronunciation: de-novo...  read more>>

 Partner’s Column

This has taken centerpiece of business newspapers for the last few months. Shareholder activism is the way in which shareholders can assert their power as owners of the company to influence its behaviour... read more >>

 Case Laws

  1. The Registrar of Companies (ROC) received a complaint regarding the affairs of M/s. Tianjin Tianshi India Pvt Ltd (Company) being irregular and illegal. A letter dated 24.02.2004 was issued by the ROC to the company to enquire about its affairs. This was duly replied vide letter dated 15.04.2004. The reply was examined and thereafter an order dated 19.04.2004 under Section 234(1) of the Companies Act... read more >>
  2. The Respondent is a Public Limited Company incorporated under the Companies Act, 1956 on 05th July, 1951. The Shareholding pattern of the Respondent Company is reflected below : M/s. Reckitt Benckiser Plc (Holding Company) – 63.87 % , M/s. Lancaster Square Holdings SL – 36.20 % , Public holding including appellant holdings – 0.11%.... read more >>
  3. The facts as stated in the petition are that the petitioner firm had been supplying fabric to the respondent company on regular basis from 1996 onwards and as per the reconciliation of accounts for the period from 1st April, 1997 to 31st March, 1998, a sum of Rs. 17,26,952 was due and payable by a respondent Company ... read more >>

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