Further to our Part I, this Part seeks to outline the various fiscal and supportive measures and schemes to unshackle Indian MSMEs from the rigours of the `Inspector Raj' and to promote ease of doing business in the MSME sector by the Government of India. MSME package announced by the Prime Minister in his speech on... Continue Reading →
Promotion of MSMEs and ease of doing business in India (Part I1)
With their ability to exploit new technologies and to innovate in response to changing market needs, micro, small and medium enterprises (“MSMEs”) contribute tremendously to the socio-economic development of the country. MSMEs produce and export a diverse range of products and services to meet the needs of the local and global markets and value chains.... Continue Reading →
Update: Companies Act, 2013
Vide notification dated 9th September, 2016, the Ministry of Corporate Affairs (“MCA”) has notified certain provisions of the Companies Act, 2013 (“Act”). The central government has in exercise of its power, under Section 1 (3) of the Act, notified the sections as provided below: Section 227 - Legal advisers and bankers not to disclose certain... Continue Reading →
Update: Special courts – Blurring of boundaries or an unnecessary evil?
In our previous post we had discussed the provisions of the then Companies Bill, 2012 relating to the establishments of special courts to ensure speedy trial of offences violating the provisions of the said bill. Section 2 (29) (iv), Section 435 to Section 438 and Section 440 of the Companies Act 2013 (“Act”) dealing with the... Continue Reading →
Establishment of National Company Law Tribunal (“NCLT”) and National Company Law Appellate Tribunal (“NCLAT”)
To reduce the burden of High Court and to take up all matters relating to company law and other corporate laws, Supreme Court in Union of India v. R. Gandhi[1] and Madras Bar Association v. Union of India[2] upheld and allowed the constitution of NCLT and NCLAT under Companies Act, 2013. On 1st June, 2016 Ministry of... Continue Reading →
Employee Retention Strategies: Are ESOPs different from Sweat Equity?
Amongst start-ups particularly the question of employee retention and reward (for working with a start-up) is asked very frequently. This blog post seeks to identify and discuss the legal parameters surrounding both mechanisms arming promoters with answering the question of whether ESOP or Sweat Equity. What is an ESOP? An ESOP is a type of employee... Continue Reading →
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