Tag Archives: Companies Act

ILN Today Post

MCA Opens a New Way Out for an Old Problem – Squeezing Out the Minority Shareholders from a Company.

The Ministry of Corporate Affairs, Government of India (“MCA”) vide its Notification dated February 3, 2020, has brought into effect the eagerly anticipated sub-sections (11) and (12) of the Section 230 of the Companies Act, 2013 (“CA2013”). These provisions facilitate the takeover of the company/squeezing out the minority shareholders under a scheme of compromise/arrangement. While the remaining provisions of Section 230 of the CA2013, and for that matter the whole Chapter XV of the CA2013 relating to compromise, arrangements and amalgamations, were brought into effect in the year 2016, it has taken the MCA well over 3 (three) years to notify these key provisions.

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ILN Today Post

Proposed changes in the Companies Act, 2013 – Decriminalization of various offences

Since the inception of the Companies Act, 2013 (“Act”), the Government of India (“Government”) has undertaken and continues to undertake various amendments to the Act including the recent amendment dated July 31st, 2019, in which approximately 21 (twenty-one) criminal offences were decriminalized and re-categorized as civil offences.

Since then there have been constant deliberations to decriminalize more and more criminal offences under the Act, with the intent to avoid unwarranted prosecutions against the executives of the companies and provide a fair chance to compound the civil offences by paying penalties only.

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ILN Today Post

MINIMISING CORPORATE LIABILITY OF DIRECTORS

Top three things to consider in India with regard to director liabilities / reporting to the board?

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