15 April 2024

Search Results for Tag : Directors

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Government amends Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2014 easing norms for independent directors(18.12.2020)

Central Government amends Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2014 in exercise of powers conferred under Sec.....

Tags : Rules, Amendment, Independent directors

Notifications & Circulars

Split of position of Chairperson and Managing Directors in listed companies(24.07.2018)

The Securities and Exchange Board of India (SEBI), based on the recommendations of Kotak Committee on Corporate Governance, has amended the SEBI (List.....

Tags : Split, Position, Chairperson, Managing Directors

Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020(29.04.2020)

In exercise of the powers conferred by section 149 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes .....

Tags : Amendment, Rules, Appointment, Directors

Greater vigilance for multiple directorships and common addresses of companies(03.11.2015)

The Special Investigation Team has sought permission from the Ministry of Corporate Affairs to take action against violations of the Companies Act, 19.....

Tags : Company, address, operating, directorship

Independent Directors in PSUs(02.12.2015)

Minister of Corporate Affairs, Arun Jaitley, stated in a reply to Parliament that the appointment of independent directors on the boards of public sec.....

Tags : Independent directors, psu, department, public enterprises

Clarifications on the Income Declaration Scheme, 2016(14.07.2016)

The Central Board of Direct Taxes released additional clarifications on the Income Declaration Scheme 2016.

In answers to ten additional qu.....

Tags : income declaration scheme, revision, directors, partners

International Cases

Directors did not have the authority to represent the company in the POCA litigation(01.12.2023)

The Appellant (the company) has been in business rescue in terms of Chapter 6 of the Companies Act, 2008. The fourth and fifth respondents on appeal w.....

Tags : BRPs, Directors, Authority

Judgments

Summons to directors justified, if complaint filed under Sections 138 & 141 of NI Act alleges that Directors were in charge of and were responsible for conduct of business of the company(08.10.2021)

The present appeals are directed against the common judgment filed at the instance of the Appellants under Section 482 of Code of Criminal Procedure, .....

Tags : Directors, Liability, Cheque bounce

Vehicles purchased by company for officers’ personal use not excluded from consumer protection law(08.07.2016)

The National Consumer Disputes Redressal Commission held that vehicles purchased by a company for its directors for their personal use are not exclude.....

Tags : consumer protection, vehicles, comercial use, directors

News

Madras HC: Appointment of Independent Directors in Social Audit of MGNREGA is Must(18.02.2020)

Madras High Court has directed the State of Tamil Nadu to issue fresh Government Order prescribing the qualifications for the appointment of independe.....

Tags : Madras High Court, Appointment of Independent Directors in Social Audit

MCA Amends Companies (Appointment and Qualification of Directors) Rules, 2014(09.05.2018)

Ministry of Corporate Affairs (MCA) has amended Companies (Appointment and Qualification of Directors) Rules, 2014 by the Companies (Appointment and Q.....

Tags : Companies, Directors

MCA Amends Companies (Meetings of Board and Its Powers) Rules 2014(09.05.2018)

Ministry of Corporate Affairs (MCA) has amended the Companies (Meetings of Board and Its Powers) Rules 2014 by the Companies (Meetings of Board and It.....

Tags : Companies, Directors

Delhi HC: Non-Executive Directors of Company Immune from Cheque Dishonor Proceedings(11.03.2020)

Delhi High Court has held that the non-executive directors of a company are exempted from the cheque dishonour proceedings under Section 138 of the Ne.....

Tags : Delhi High Court, Non-Executive Directors

AAR, Karnataka: No GST on Full-Time Directors’ Salary(11.05.2020)

Authority of Advance Ruling, Karnataka has clarified that if the director is an employee of the company, there will be no incidence of Goods and Servi.....

Tags : Authority of Advance Ruling, GST on Full-Time Directors’ Salary

Personal Expenses of Directors of Company Can’t be Disallowed Without Sufficient Proof: ITAT(24.09.2018)

Delhi bench of ITAT, has held that while deleting an addition against the assessee-Company, that the personal expenses of the Directors/ Office bearer.....

Tags : ITAT, Personal Expenses of Directors

Delhi HC Orders Ministry of Corporate Affairs to Set Aside Disqualification of Directors(07.09.2020)

Delhi High Court has passed an order to set aside the disqualification of Petitioners as Directors who were disqualified under a retrospective applica.....

Tags : Delhi High Court, Disqualification of Directors

Karnataka HC: Directors of Company Can't Be Prosecuted Unless They Played "Active Role" in Process(20.05.2022)

Karnataka High Court has quashed the criminal proceedings initiated against the Proprietors/ Directors of a drugs manufacturing company for alleged pr.....

Tags : Karnataka High Court, Criminal Proceeding, Active Role, Directors

Delhi HC: Directors Responsible for Conduct of Business Can't be Liable If No Offence Is Attributed(10.05.2022)

Delhi High Court has observed that if no offence is attributed to the company, it is but the natural corollary, that its Directors and other persons r.....

Tags : Delhi High Court, Directors, natural corollary

Gujarat High Court Quashes MCA List of Disqualified Directors(27.12.2018)

Gujarat High Court has quashed the list of disqualified directors published by Ministry of Corporate Affairs (MCA) on September 12, 2017 and held that.....

Tags : Gujarat High Court, Disqualified Directors, Ministry of Corporate Affairs

SEBI Rejects Appointment of 2 Shareholder Directors of NSE(09.09.2020)

Securities and Exchange Board of India (SEBI) has rejected the reappointment of two long-time shareholder directors on the board of the National Stock.....

Tags : Securities and Exchange Board of India, Appointment of Directors

Allahabad High Court Stays Arrest of Directors and Writers of ‘Mirzapur’ Series(19.02.2021)

Allahabad High Court has stayed the arrest of 'Mirzapur Series' Directors and Writers namely Karan Anshuman, Gurmeet Singh, Puneet Krishna and Vineet .....

Tags : Allahabad High Court, Directors and Writers of ‘Mirzapur’ Series

NCLT: Appointing New Directors Without Consent of Petitioner Shareholders Amounts to 'Oppression'(30.05.2017)

NCLT has held that increasing authorised share capital of company, appointing additional directors and transferring shares to non-members without noti.....

Tags : NCLT, additional directors, Oppression

SEBI Notifies Promoters and Directors Dealings to be Brought Under System Driven Disclosures(17.06.2021)

Securities and Exchange Board of India has decided to bring listed companies' promoters and directors' dealings in listed debt securities under the pu.....

Tags : Securities and Exchange Board of India, Promoters and Directors Dealings

SEBI: Two-Thirds of Members of NRC and AC of Listed Company to be Independent Directors(30.06.2021)

Securities and Exchange Board of India has said that two-thirds of the members of the nomination & remuneration committee (NRC) and the audit committe.....

Tags : Securities and Exchange Board of India, Independent Directors

RBI Relaxes Norms on Loans to CEOs, Directors of Banks(17.09.2015)

RBI has said that loans granted to CEO and Whole Time Director of banks for purchasing car, personal computer, furniture, constructing/acquiring house.....

Tags : RBI, Loans to CEOs, Directors of Banks

FIR Against PVR's Directors, Promoters for Cheating, Forgery(29.11.2017)

FIR Against PVR's Directors, Promoters for Cheating, Forgery

Tags : The case came to light when Elan Group filed a complaint in the court, which on November 17 directed the local police to register an FIR against Chairman and Managing Director of PVR Limited Ajay Bijli, and directors Niharika Bijli, Sanjeev Kumar Bijli and others.

Cal. HC: Cheating Case Against Directors Can’t Survive w/o Impleading Company(12.09.2023)

Calcutta High Court has held that when the agreement was entered into by and between the companies, criminal proceedings in a cheating case can’t surv.....

Tags : Calcutta High Court, Directors, Impleading Company

Bombay HC: Directors Above 70 Yrs of Age Need SR and 3/4th Shareholders' Nod to Stay(19.02.2016)

Bombay HC has ruled that incumbent directors who are 70 years old and above will face automatic disqualification if they are not elected by a Special .....

Tags : Bombay HC, directors

Lok Sabha Passes Bills Enabling Extension of Term of CBI, ED Directors Up To 5 Years(10.12.2021)

Lok Sabha has passed Central Vigilance Commission (Amendment) Bill, 2021 and the Delhi Special Police Establishment (Amendment) Bill, 2021, to amend t.....

Tags : Lok Sabha, Extension of Term of CBI, ED Directors

Madras HC Quashes Case Booked by Economic Offences Wing Against ITNL and Directors(02.09.2021)

Madras High Court has quashed a case booked by Economic Offences Wing against IL&FS Transportation Networks India Limited (ITNL) and its former direct.....

Tags : Madras High Court, ITNL and Directors

SC: Moratorium Does Not Apply to Proceedings in Respect of Directors/Management of Corporate Debtor(17.09.2021)

Supreme Court has observed that the moratorium ordered under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not apply in respect of the d.....

Tags : Supreme Court, Proceedings in Respect of Directors/Management of Corporate Debtor

Kerala HC: Directors of Company Cannot be Implicated Without Specific Averments(17.01.2022)

Kerala High Court has ruled that Directors of a company cannot be implicated without specific averments indicating their role in the offence, particul.....

Tags : Kerala High Court, Directors of Company

Supreme Court: Directors of Company Not Liable For Dishonor of Cheque After Their Retirement(16.02.2024)

Supreme Court has observed that the Director of a company cannot be held liable for the dishonor of a cheque after his retirement, which has been issu.....

Tags : Supreme Court, Dishonor of Cheque, Directors of Company

MCA Notifies Deflagging of Disqualified DINs of Directors Post-Demonetization(11.11.2021)

Ministry of Corporate Affairs (MCA) has notified that the Director Identification Numbers (DINs) of Directors found to be disqualified post-demonetiza.....

Tags : Ministry of Corporate Affairs, Disqualified DINs of Directors Post-Demonetization

President of India Promulgates Ordinance to Allow Extension of Tenure of CBI and ED Directors(15.11.2021)

President of India has promulgated two Ordinances to allow the extension of the tenure of the Directors of the Central Bureau of Investigation (CBI) a.....

Tags : President of India, Extension of Tenure of CBI and ED Directors

Madras HC Sets Aside RoC’s Order Disqualifying Directors For Non-Filing of Financial Statements(08.08.2018)

Madras High Court has set aside the disqualification of directors of private companies for failure to file annual returns/ financial statement for thr.....

Tags : Madras High Court, Directors

Supreme Court Stays Bombay HC Order Granting Relief to Disqualified Directors(08.08.2018)

Supreme Court has stayed a Bombay High Court order, which gave relief to directors of the companies struck off by the Registrar of Companies (RoC) las.....

Tags : Supreme Court, Directors

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