Tag: Companies Act 2013

Corporate Social Responsibility (CSR) regulations in India require certain companies to mandatorily undertake CSR activities and spend at least 2% of their average net profit of the immediately preceding three financial years on CSR activities. ......

The Companies Act, 2013 was passed in 2013 with the aim to revamp the Indian corporate governance regime. The new act superseded the erstwhile Companies Act, 1956 and is based upon the three pillars of liberalization, globalization and privatization. ......

In its board meeting held on 15 February 2022, SEBI has decided to change the requirement for listed companies to separate the posts of Chairperson and MD/ CEO to voluntary from mandatory. This decision has been taken in view post multiple representations from corporates and industry bodies expressing difficulties in complying with the mandate. After multiple delays, this rule shall fully come into force on 1 April 2022. We analyse SEBI’s recent decision and its implications. ... ...

Recently, the Supreme Court in the decision of Arun Kumar Jagatramka v. Jindal Steel and Power Ltd. & Anr (“Arun Kumar Decision”) examined the interplay between liquidation proceedings under the Insolvency and Bankruptcy Code, 2016 (“IBC”) and Section 230 of the Companies Act, 2013 (“Act”). The issue before the Supreme Court was to decide whether a person ineligible to submit resolution plan under Section 29A of the IBC is barred from proposing a scheme under Section 230 of the Act. ......

Corporate Social Responsibility (CSR) has been a soft law in most countries and is considered voluntary, self-regulated and beyond the scope of legislation. The concept of CSR is usually associated with companies voluntarily undertaking activities to achieve social and environmental objectives during the course of their daily business operations. ......

With the addition of more startups every year, India has developed and is witnessing one of the largest startup ecosystems in the world. While, the number of startups is on a continuous and stark rise, in May 2020, Nasscom was seen as reporting – “COVID 19 Impact – 9 out of 10 Startups Bleeding in India”. Majority of startups in India, are bleeding more so than ever before due to the grim economic condition of the country thanks to COVID-19. ......

The sweeping and unprecedented pandemic that is the novel coronavirus ("COVID – 19") has impacted businesses and their operations globally. These circumstances are unique and the future is unquantifiable. Governments all over the world are attempting to contain it by implementing lockdowns, India itself having effected a complete lockdown for 21 (twenty one) days. In light of the same, the Government has realised the importance of offering relief to not only employees but also employers. ...

According to Professor Gower, "Winding up of a company is the process whereby its life is ended and its property is administered for the benefit of its members & creditors. An administrator, called liquidator is appointed and he takes control of the company, collects its assets, pays its debts and finally distributes any surplus among the members in accordance with their rights....

An application for a patent can be filed by a ‘true and first inventor’, or the inventor’s assignee. In cases where the application is filed by the assignee, the assignee is required to submit a ‘proof of right’, as per Section 7(2) of the Patents Act, 1970 (the “Act”). ...