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ANNUAL KYC OF ALL THE DIRECTORS OF ALL COMPANIES

NEW LAW UPDATE ATTENTION ALL DIRECTORS ANNUAL KYC OF ALL THE DIRECTORS OF ALL COMPANIES In order to update its registry, Ministry of Corporate Affairs would be conducting KYC of all Directors of all companies annually through a new e-form viz. DIR-3 KYC. Accordingly, every Director who has been allotted DIN up to 31stMarch 2018 and whose DIN is in ‘Approved’ status, must mandatorily…

Valuation of a Company: The Methods

Valuation of a Company: The Methods What Is Business Valuation? The Business Valuation is a process and a set of procedures used to estimate the economic value of a stakeholder’s interest in a business. Valuation is used by financial market participants to determine the price they are willing to pay or receive to affect a sale of a business.To determine…

Misuse of 498-A (Anti-Dowry Laws)

Misuse of 498-A (Anti-Dowry Laws) An article by: Ms. AAKSHI SEHGAL (Counsel) (Ricky Chopra International Counsels) ‘Dowry’ means property or money or all kinds of gifts like jewellery, electrical appliances, furniture etc.  that a bride brings to her husband’s house at the time of her marriage. It is a custom that is prevalent in all the sections of Indian society in one…

(HEALTH INSURANCE)REGULATIONS, 2016&2013: Changes you should know

THE INSURANCE REGULATORY & DEVELOPMENT AUTHORITY’s (HEALTH INSURANCE)REGULATIONS, 2016&2013: Changes you should know Insurance, as defined in the Oxford Dictionary,is “An arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium”.[1] A contract whereby, for specified consideration, one party undertakes…

PLACE OF EFFECTIVE MANAGEMENT

“Place of effective management” has been defined to mean a place where key management and commercial decisions that are necessary for the conduct of the business of an entity as a whole are, in substance made. Finance Act, 2015 (FA 2015) has brought about a paradigm shift by introducing the ‘Place of Effective Management’ (POEM) rule to determine residency of…

ARBITRATION CLAUSE – SAY IT STRAIGHTFORWARDLY

Arbitration: say it straightforwardly HIM, a technology equipment supplier from a foreign land and YOU, a technology equipment agent from India entered into an agreement. The arbitration clause of the agreement clearly mentioned that all disputes arising of the agreement will be governed by the Indian law but will be submitted to the foreign arbitration court. A dispute arose, and…

ONLINE DISPUTE RESOLUTION: AN ANSWER TO CROSS – BORDER DISPUTES

ONLINE DISPUTE RESOLUTION: AN ANSWER TO CROSS-BORDER DISPUTES INTRODUCTION Online Dispute Resolution(ODR) is a subset of Alternate Dispute Resolution (ADR). The basic meaning of ADR is any form of resolving disputes other than Litigation. In this novel age of technology with the explosion of activity in Cyberspace, comes the certainty of online conflict. While the Internet has the possibility to…

JUSTICE. DENIED

JUSTICE. DENIED Introduction Somewhere amidst the unending human rights violations, prolonged court proceedings and bleak hopes, the word ‘justice’ has lost its meaning. In Hans Kelsen’s words, longing for justice is a man’s eternal longing for happiness. It is happiness that man cannot find alone and hence seeks in society. Justice is a social happiness that can only be guaranteed…

Duties and Responsibilities of Directors under the Indian Companies Act, 2013

Duties and Responsibilities of Directors under the Indian Companies Act, 2013 Introduction The ultimate executive authority controlling the management and affairs of a company vests in the team of directors of the company, collectively known as its Board of Directors. The foundation of board of directors was based on the premise that a group of trustworthy and respectable people should…