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COMPANY CASES (CC) HIGHLIGHTS
F Company admitting principal amount due but denying interest is admission of debt : Documents endorsing and confirming debt due not disputed, winding up ordered : Packmaster Containers P. Ltd. v. Rayalaseema Commodities Ltd. (Mad) p. 234
F Bank enforcing its security interest after commencement of winding up proceedings must associate official liquidator with sale : Magicon Impex P. Ltd. v. Megnostar Telecommunications P. Ltd. (Delhi) p. 238 (Decision set aside--see page 246 infra)
F No duty to associate liquidator with sale of assets on bank enforcing its security interest after commencement of winding up proceedings : Kotak Mahindra Bank Ltd. v. Megnostar Telecommunications P. Ltd. (Delhi) p. 246
F Where scheme involving company and one class of creditors, wishes of other classes of creditors, public sector/scheduled banks must be ascertained : Scheme cannot be sanctioned on banks opposing scheme : Model Financial Corporation Ltd. v. A. P. Mahesh Co-operative Urban Bank Ltd. (AP) p. 264
F Condition precedent for sanction of court in scheme of arrangement or compromise : Model Financial Corporation Ltd. v. A. P. Mahesh Co-operative Urban Bank Ltd. (AP) p. 264
F Scheme of arrangement or compromise whether violative of public policy, even where statutory majority approved it : Model Financial Corporation Ltd. v. A. P. Mahesh Co-operative Urban Bank Ltd. (AP) p. 264
F Where scheme a device to avoid repayment of dues of creditors of both companies and to obtain stay from court u/s. 391(6) of 1956 Act, scheme against public interest, petition dismissed : Model Financial Corporation Ltd. v. A. P. Mahesh Co-operative Urban Bank Ltd. (AP) p. 264
STATUTES AND NOTIFICATIONS |
Acts :
F Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2012 p. 81
F Prevention of Money-laundering (Amendment) Act, 2012 p. 108
Circulars :
RBI Circulars :
F Corporate Bond Market--Permission to banks for membership in SEBI approved Stock Exchanges--DBOD. No. FSD. BC. 53/24.01.001/2012-13, dated 5th November, 2012 p. 101
F External Commercial Borrowings (ECB) Policy--ECB by Small Industries Development Bank of India (SIDBI)--A. P. (DIR Series) Circular No. 48, dated 6th November 6, 2012 p. 102
F Guidelines for Rehabilitation of Sick Micro and Small Enterprises--RPCD. CO. MSME & NFS. BC. 40/06.02.31/2012-2013, dated 1st November, 2012 p. 96
F Second Quarter Review of Monetary Policy 2012-13--Non-Performing Assets (NPAs) and Restructuring of Advances--DBOD. BP. BC. No. 62/21.04.103/2012-13, dated 21st November, 2012 p. 104
F Standardisation and Enhancement of Security Features in Cheque Forms--Migrating to CTS 2010 Standards--DNBS. PD/CC. No. 308/03.10.001/2012-13, dated 6th November 2012 p. 103
F Uploading of Reports in "Test Mode" on FINnet Gateway Reporting--DNBS (PD). CC. No. 307/03.10.42/2012-13, dated 16th October, 2012 p. 95
SEBI Circulars :
F Inventory Management for market makers of SME Exchange/Platform--CIR/MRD/DSA/31/2012, dated 27th November, 2012 p. 106
Regulations :
F Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Fourth Amendment) Regulations, 2012 p. 93
F Foreign Exchange Management (Foreign Currency Accounts by a Person Resident In India) (Second Amendment) Regulations, 2012 p. 92
F Foreign Exchange Management (Guarantees) (Amendment) Regulations, 2012 p. 90
F Foreign Exchange Management (Guarantees) (Third Amendment) Regulations, 2012 p. 94
Rules :
F Companies Directors Identification Number (Third Amendment) Rules, 2012 p. 90
Notifications :
Securities Contracts (Regulation) Act, 1956 :
Notification under section 4 :
F Renewal of recognition p. 89
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