Directors Archives

Dishonour of Cheque: Delhi High Court sets aside summon order due to lack of specific allegations against directors in the complaint

The Delhi High Court observed that the wanton arraignment of directors without reference to their role in relation to a transaction, or to the issuance or dishonour of a cheque by the company, requires to be deprecated and discouraged, since it amounts to abuse of the salutary process of criminal law.

Case Briefs High Courts

Approval of a Resolution Plan does not ipso facto discharge a Personal Guarantor of a Corporate Debtor of his liabilities under Contract of Guarantee; Allahabad High Court reiterates

Allahabad High Court said that challenge to demand notice for electricity dues, issued jointly in name of Directors of the insolvent company cannot be sustained on the ground that liabilities of guarantor stood automatically discharged on acceptance of Resolution Plan.

Legislation Updates Rules & Regulations

Companies having different establishments or branches or different units in any establishment or branch can now nominate an officer who has the authority vide Legal Metrology (General) Amendment Rules, 2022

The Central Government has notified Legal Metrology (General) Amendment Rules, 2022 to amend the Legal Metrology (General) Rules, 2011 to

Case Briefs Tribunals/Commissions/Regulatory Bodies

SAT| Shareholders can ratify Director’s Breach of Duty through a special resolution

Securities Appellant Tribunal, Mumbai: The Bench of Tarun Agarwala, J., Presiding Officer, and Meera Swarup, Technical Member, while allowing the appeals held

Op Eds OP. ED.

Wilful Defaulter Circular: A Much-Needed Munition or a Growing Conundrum

by Bishwajit Dubey*, Shatrajit Banerji** and Prafful Goyal***

Case Briefs Supreme Court

SC to decide if a non-member director barred from approaching NCLT alleging oppression/mismanagement under Section 430 of Companies Act

Supreme Court: The Division Bench of Dinesh Maheshwari and Aniruddha Bose, JJ., issued notice to Topworth Urja & Metals Ltd. in a

Case Briefs Tribunals/Commissions/Regulatory Bodies

Decoded | SEBI bars Director of Franklin Templeton AMC, wife from accessing securities markets for 1 yr: Can redemption of units by Director of a mutual fund AMC be titled as fair conduct?

Securities Exchange Board of India (SEBI): G. Mahalingam (Whole Time Member) held that while directors are not prohibited from trading in units

Case Briefs High Courts

Del HC | Will the jurisdiction to address issues of oppression and mismanagement, elections to board of directors of company, etc., vest exclusively with NCLT? HC considers

Delhi High Court: Najmi Waziri, J., while addressing the present matter considered the following issues: Whether elections to the Board of Directors of

Case Briefs High Courts

Vizag Gas Leak Incident| A.P. HC | LG Polymers to be seized and passports of directors shall not be released without leave of Court

Andhra Pradesh High Court: A Division Bench of Jitendra Kumar Maheshwari, CJ and Lalitha Kanneganti, J., addressed certain PILs that were filed in

OP. ED.Practical Lawyer Archives

SCC Times

Directors

Dishonour of Cheque: Delhi High Court sets aside summon order due to lack of specific allegations against directors in the complaint

Approval of a Resolution Plan does not ipso facto discharge a Personal Guarantor of a Corporate Debtor of his liabilities under Contract of Guarantee; Allahabad High Court reiterates

Companies having different establishments or branches or different units in any establishment or branch can now nominate an officer who has the authority vide Legal Metrology (General) Amendment Rules, 2022

SAT| Shareholders can ratify Director’s Breach of Duty through a special resolution

Wilful Defaulter Circular: A Much-Needed Munition or a Growing Conundrum

SC to decide if a non-member director barred from approaching NCLT alleging oppression/mismanagement under Section 430 of Companies Act

Decoded | SEBI bars Director of Franklin Templeton AMC, wife from accessing securities markets for 1 yr: Can redemption of units by Director of a mutual fund AMC be titled as fair conduct?

Del HC | Will the jurisdiction to address issues of oppression and mismanagement, elections to board of directors of company, etc., vest exclusively with NCLT? HC considers

Vizag Gas Leak Incident| A.P. HC | LG Polymers to be seized and passports of directors shall not be released without leave of Court

Checklist for Disclosure of Interest by Directors

NCLAT | Company and its directors to be treated equally while imposing fine for delay in filing Cost Audit Report

Amrapali Group of Companies| 7 premises sealed; directors in police custody till the ‘cataloguing’ of the documents : SC

Real estate major Amrapali group asked to submit the valuation report of its directors