LawDocs Blogs

  Team LawDocs Amendments to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 The listed companies are expect to be in compliance with the requirements of the revised SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015: 1. Related Party Definition: New Proviso added – “Provided that any person or entity belonging to the promoter or promoter group of the list entity and holding 20% or more of shareholding in the listed entity shall deem to be a related party” 2.Related Party Transaction [Reg 23(1)]: “The listed entity shall formulate a policy on materiality of related party transactions (RPT) and on dealing with related party transactions including clear threshold limits duly approved by the board of directors and such policy shall be reviewed by the board of directors at least once every three years and updated accordingly.” 3. Related Party Transaction [Reg 23(1A)]: “With effect from July 01, 2019 a transact

  Team LawDocs SEBI has time and again amended its takeover regulations, recently in Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2020, where certain provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and  Takeovers )  Regulations , 2011 were amended. In 2020, various other developments have taken place which are discussed further. Contents    hide   1 Relaxations relating to procedural matters – Takeovers and Buy-back 1.1 (ii) of Buy-back Regulations subject to the following:- 2 SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) (SECOND AMENDMENT) REGULATIONS, 2020 3 Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2020 4 References 5 Related Relaxations relating to procedural matters – Takeovers and Buy-back On May 14, SEBI issued a circular for relaxing certain proced

  Team LawDocs In the wake of the recent global outbreak of the novel pandemic coronavirus (Covid-19) and its impact in India. It is evident from the economic situation that businesses and various other commercial ventures have incurred several losses, both economic and otherwise.  One of the many efforts of the government to curb this situation is the Government of India’s objective to increase business opportunities and ease in the country leading to nationwide movement campaigned as ‘sabka saath, sabka vikash, sabka vishwaas’. Under the said campaign the Union finance ministry has proposed to decriminalize in as may 36 section across 19 legislations including the Negotiable Instruments Act, 1881. The said step would aim to substitute the criminal liability with compoundable monetary penalties of a civil nature. This would also mean that the proposal would recategorize these offences from criminal into civil nature. And there would no longer be a punishment in the form of imprisonmen

  Desk Team LawDocs Partnerships in India are govern by the Indian Partnership Act, 1932. The Act defines partnership as  ‘The relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all ’. The Act while laying down the provisions with respect to rights and duties of the partners also details the consequences of retirement of a partner and dissolution of a partnership firm. Contents    hide   1 Guru Nanak Industries, Faridabad and Another v/s Amar Singh (Dead) through Legal Representatives 1.1 Guru Nanak Industries 1.2 Supreme Court dismissed the appellants 1.2.1 The Supreme Court relied on the judgement 2 Reference 2.1 Related Guru Nanak Industries, Faridabad and Another v/s Amar Singh (Dead) through Legal Representatives Partnerships While distinguishing between the retirement of a partner and the breakup of a partner company, the Supreme Court held that the retirement of one partner would amount to the dissolution of th

  Team LawDocs Companies Act, 2013 has amended time and again to keep up with the dynamics of capital markets. This article discusses some of the major amendments and developments in the law. 2019 Amendment The Ministry of Corporate Affairs (the MCA) in the month of January & February 2019 issued the following amendments notification under the Companies Act 2013 (the Act): “a.       Changes in Companies (Significant Beneficial Owners) Rules 2018 to identify individuals/entities having significant control over the affairs of a company b.         Companies (Incorporation) Rules, 2014 mandating all the companies incorporated prior to 31 December 2017 to upload all their particulars of various compliances including details of registered office in Form INC 22A Active. c.         Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019, mandating all the companies who receives goods or services from MSME and the payment for which i

  Team LawDocs A promissory note is an instrument in writing which is not of the nature of a bank note or a currency note. The promissory note contains an unconditional undertaking sign by the maker to pay a certain sum of money which is restrict only to the bearer of the said note. The provisions governing the issuance of promissory note are laid down in the Negotiable Instruments Act, more particularly under the Section 4 of the Act. A promissory note may be of various categories. However, it is not necessary that all these categories shall categorize as negotiable instruments. It depends on the clauses and terms and conditions laid down under the note itself. However, by the very fact it may be relevant to note that the same does not change. And tamper with the nature of the document. A promissory note may issued by a single person. Or may be jointly issue by multiple issuers in favour of bearer/s. In a recent campaign in view of the recent coronavirus outbreak. The Union finance mi

  Team LawDocs A deed  of release, also known as relinquishment deed is a legal document. That removes a previous claim on an asset and suffices as a documentation of release from a binding agreement. When a lender transfers the title of a real estate to the owner upon the satisfaction of mortgage that might be executed. In other words, whenever a tangible property is release from a charge, a third party is claiming upon it, a release deed may be executed literally releasing the parties from previous obligations. The lender holds the title of real property until all the obligations are compile and satisfied by the owner. In a recent development it has also established that rights to a co-owned property can be transferred vide it. In a situation where husband and wife are undergoing a divorce by mutual consent. Upon, one person paying the maintenance and alimony. Along, with any other amount as may be expressly declared by any court of law/forum. That can execute and upon the satisfacti