In order to make regulatory regime for Nidhi Companies more effective and also to accomplish the objectives of transparency & investor friendliness in corporate environment of the country, the Central Government has recently amended the provisions related to NIDHI under the Companies Act and the Rules (effective from 15.08.2019). Under Nidhi Rules, 2014, Nidhi is…
Corona Virus | Board meetings under the Companies Act, 2013
Considering the need to take precautionary steps to overcome the outbreak of the coronavirus (Covid-19), the Government has in-principle decided to relax the requirement of holding Board meetings with physical presence of directors under section 173 (2) r/w rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 for approval of the…
Privatisation of Companies
inistry of Finance The Government has given ‘in-principle’ approval for Privatisation of 24 CPSEs including Subsidiaries, Units and Joint Ventures with sale of majority stake and transfer of management control. This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok…
CCI approves combination involving setting up of Mindspace REIT by K. Raheja Corp Group
Ministry of Corporate Affairs The Competition Commision of India (CCI) approves proposed combination involving setting up of Mindspace REIT (REIT) by K. Raheja Corp Group and acquisition of certain equity shareholding held by selling shareholders in the Target Entities by REIT, under Section 31(1) of the Competition Act, 2002 The parties to the combination are:…
CCI approves acquisition of additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust
Ministry of Corporate Affairs The Competition Commision of India (CCI) approves acquisition of additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust. The proposed combination envisages subscription to additional equity shares in Hero FinCorp Limited by Otter Limited and Link Investment Trust. Otter is an investment company registered in Mauritius.…
CCI approves acquisition of Teesta Urja Limited by Greenko Mauritius
Ministry of Corporate Affairs The Competition Commision of India (CCI) approves the acquisition by Greenko Mauritius (Acquirer/Greenko) in Teesta Urja Limited (Target/TUL), under Section 31(1) of the Competition Act, 2002. The proposed combination relates to the acquisition by Greenko of approximately 35% equity stake in the paid-up equity share capital of TUL (Proposed Combination). Acquirer…
Cabinet approves Companies (Second Amendment) Bill, 2019
Ministry of Corporate Affairs The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the Companies (Second Amendment) Bill, 2019 to amend the Companies Act, 2013. The Bill would remove criminality under the Act in case of defaults which can be determined objectively and which, otherwise, lack the element of fraud or…
LLP settlement Scheme, 2020 launched ; Shall allow a One-time condonation of delay in filing statutorily required documents with the Registrar
Ministry of Corporate Affairs LLP settlement Scheme, 2020 launched ; Shall allow a One-time condonation of delay in filing statutorily required documents with the RegistrarScheme shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020 It has been observed that due to applicability of additional fee…