The Ministry of Corporate Affairs ("MCA") has issued a clarification last night with regard to section 180 of the Companies Act, 2013. Circular no 04/2014 (dated 25th March 2014) has clarified that resolutions passed under section 293 dealing with restrictions on powers of Board of Directors of the Companies Act, 1956 prior to 12.09.2013 with reference... Continue Reading →

This innocuous little chapter 28 (dealing with Special Courts) has been one of the least discussed and debated chapters of the Companies Bill, 2012. Neither the Parliament nor the media appears to have paid any attention to it. I can only imagine, this is so, because as a country we have become accustomed to specialist... Continue Reading →

The Companies Bill, 2012 under Clause 135, has made it mandatory for Indian companies (who meet the criteria provided below) to work towards social objectives. These companies will have to spend a portion of their income on policies framed by their Boards towards the fulfillment of their social responsibilities. Corporate Social Responsibility (CSR) aims to... Continue Reading →