The recent amendments to the Companies Act, 2013 [‘Act’] provides a right to the Majority Shareholder(s) of a company to propose a Takeover Offer to purchase the shareholding of the remaining minority shareholder(s) of the said company. This article is a brief write-up on the latest development in this regard.
The Law Tree
Edition 53
Summer's approaching and it is hotting up on the legal scene as well. The Companies Act was recently amended to enable majority shareholders of the company to takeover to purchase minority shareholders of that company. An Insight into the latest amendments into the compromise, arrangements, mergers & amalgamations rules under the Act.
Insights
Takeover: Majority Shareholders can now acquire full Shareholding Control in a Company
IBC Cases
A monthly update of the most significant cases on insolvency and bankruptcy and its resolution
What's Brewing
Magic Remedy = Jail Remedy
By the fag end of January 2020, the dreaded coronavirus (“COVID-19”) reared its head in full force. Consequently, social media platforms were abuzz with news of “miracle cures” to deal with this zoonotic virus. From inventing a vaccine that could prevent and fully cure the virus to drinking bleach, several “miracle” cures continue to be propagated.
Circulars & Notifications
Learn about this month’s circulars and notifications brought out by the MCA, FEMA, SEBI & RBI.
Notifications
January 09, 2020
Amendment to Master Direction (MD) on KYC
January 10, 2020
Framework for imposing monetary penalty on authorised payment system operators / banks under the Payment and Settlement Systems Act, 2007
Circulars
January 09, 2020
Operating Guidelines for Investment Advisers in International Financial Services Centre
January 22, 2020
Streamlining the process of Rights Issue
Guidelines
Circulars
January 28, 2020
Transfer of Membership from one RVO to another
Notification
January 03, 2020
Notification - regarding look after arrangement for office of President NCLT
The Verdict
Lease Rental Arrears -
Operational Debt?
Lately, the issue of lease rental arrears being considered as operational debt has been hogging the limelight. This is more due to varying views on the same issue been taken by various benches of the NCLT across the country. While the NCLT Mumbai and Delhi have declined to accept the lease rental arrears as operational debt, NCLT Kolkata ruled that lease rental arrears are operational debt and therefore petition is maintainable u/s 9 of the IBC, 2016.
Go Figure
Geographical Indication
Tags
A geographical indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. All you need to know about the very of intellectual property rights / laws.
Lawtitude
Huawei as a Participant in 5G Trials in India:
A Two-way Road?
The government has decided to allow all network equipment makers, including Huawei, to participate in 5G trials. The very first time that Chinese companies, betting eye on India’s 5G deployment that got approval to participate in 5G trials in India.
Legal-ease
Legal words that are not as difficult as they sound. Know their meaning and use them appropriately!
Mainpernable
Capable of being bailed; bailable; admissible to bail on giving surety by mainpernors.
Nautica pecunia
A loan to a shipowner, to be repaid only upon the successful termination of the voyage, and therefore allowed to be made at an extraordinary rate of interest.
Oath in litem
In the civil law, an oath permitted to be taken by the plaintiff, for the purpose of proving the value of the subject-matter in controversy, when there was no other evidence on that point, or when the defendant fraudulently suppressed evidence which might have been available.
Palam
In the civil law, openly; in the presence of many.
Infographic
Strictly No Vaping
Electronic nicotine delivery systems (ENDS)? e-cigs, vapes? Different words with the same meaning: e-Cigarettes. A graphic description about all you need to know about the latest addiction.
Lawlipop
Important legal and other news having a bearing on society depicted in a fun quirky way!
RBI stops production of easy counterfeit of Rs.2000 notes
Airlines not obligated to escort passengers to boarding gate: SC Judgment
(P)Review
Your regular dose of a movie, TV show and a book all based on law to keep you entertained and thinking at the same time!
Movie
Anatomy of a Murder (1959)
The 1959 movie is based on a novel of the same name written by a Judge of the Michigan Supreme Court who based his novel on a murder case when he was defense attorney. An army lieutenant is arrested for the murder of a bartender. In his defense, the lieutenant claims that the bartender raped the lieutenant’s wife and beat her up. Although his wife supports the claim, the police find no evidence of rape or abuse. The lieutenant hires Paul Biegler, a small-town lawyer to defend him. The lieutenant claims in his defence that he killed the bartender as he suffered temporary insanity on coming to know of the wife’s brutality. The lawyer is apprehensive on how the prosecution apprehends that the prosecution will build on the questionable relationship between the husband and wife. The truth finally lies in how the lawyer finds the evidence to establish innocence or otherwise.
Book/Novel
The Jury
by Steve Martini
Lawyer Paul Madriani has the onerous task of defending Dr. David Crone – a brilliant but stubborn medical researcher who is the torch bearer of human genome mapping. Dr. Crone is charged with murdering his junior Kalista Jordan who was mentally scheming to replace her senior. Forensic evidence links Kalista’s murder with the materials found in Dr. Crone’s home. Lawyer Paul has strong gut feeling that he is defending the perpetrator of the crime. Not only does Dr. Crone refuse to co-operate with Paul, Crone and Kalista were professionally and personally involved. However, unexpected turn of events in the prosecution challenges all notion of justice. The novel released in 2001 was a legal thriller. It received rave reviews for its accurate depiction of court room procedure and how trials unfold in courts of law. It’s like watching a thriller movie!
TV Series
The Good Wife (2009-2016)
An American legal and political television series that had a run time of 7 years. It centres around the life of Alicia Florrick, wife of the District Attorney who gets embroiled in a political sex and corruption scandal. As a result, Alicia, a devoted mother and home maker must return to her legal career to save her husband and her family. The TV series won several Emmy’s in 2014.
Life isn't about finding yourself. Life is about creating yourself - George Bernard Shaw
Readers' Corner
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