Companies Act
According to the section 185 of the Companies Act 2013, a company cannot give loans to (or provide security on a loan taken by) a person in whom its director is interested. Such a director could mean a director of a lending company or its holding firm, or a partner or relative of any such [...] Continue Reading »
The Housing Infrastructure Development Corporation (Hidco), a government company under the Companies Act, has become one of the first amongst government undertaking companies to come up with a number of CSR activities that they will implement following the decision to make it mandatory for all companies to satisfy certain criteria to invest 2% of its [...] Continue Reading »
The new company law in India has a mandate for a few qualified companies to spend 2% of profit on CSR. However, it is proving very difficult for companies with an overseas stakeholding of more than 50% to do just that. Such companies cannot set up CSR foundations because donations from such companies are treated [...] Continue Reading »
Emaar MGF, the real estate major, is found to have done violations on various matters including those related to corporate governance and related party transactions, as per the Corporate Affairs Ministry. Sources said, the violations were found by Registrar of Companies (RoC), Delhi, during an inspection of the books of Emaar MGF and added that [...] Continue Reading »
Sahara group of companies to face more trouble in future as ministry of corporate affairs (MCA) has expressed its support to market regulator Sebi’s June 23 order against the two companies of Sahara. Both Sebi and MCA work in tandem for protecting rights of small investors. Securities Appellate Tribunal (SAT) is scheduled to hear the [...] Continue Reading »
