Thursday, July 4, 2013

[aaykarbhavan] Fw: Pre-Print Highlights of CC from CLI




----- Forwarded Message -----
From: "info@cliofindia.com" <info@cliofindia.com>
To: newsletter@cli.in
Sent: Tuesday, 2 July 13 8:36 AM
Subject: Pre-Print Highlights of CC from CLI

CLI
www.cliofindia.com
info@cliofindia.com

COMPANY CASES (CC) HIGHLIGHTS

ISSUE DATED 5-7-2013

Volume 179 Part 1

SUPREME COURT
ENGLISH CASES
CLB
SAT
DRAT
NEWS-BRIEFS

HIGH COURT JUDGMENTS


F Well reasoned order of CLB to be upheld on failure to prove allegations which could entitle relief u/s. 397/398 of 1956 Act : S. P. Nachiappan v. AEE Castings Ltd. (Mad) p. 1

F Mere pendency of civil suit not bar to winding up proceedings : Ravi Cement Product Ltd. v. Kankani Construction P. Ltd. (Cal) p. 11

F Discretion of court to order winding up of company : Maheswari Ispat Ltd. v. Tata Capital Financial Services Ltd. (Cal) p. 15

F Petition for winding up dismissed on failure to show company deliberately and intentionally neglected to pay agreed amount : Tata Advanced Materials Ltd. v. Tooltech Global Engineering P. Ltd. (Bom) p. 26

F Amendment with retrospective effect to tax service by, or in relation to, renting of immovable property : Principally lessor who lets out premises liable for service tax and not lessee : Hindustan Dorr Oliver Ltd. v. Jet Airways (India) Ltd. (Bom) p. 32

F Powers of CLB : Directions must have nexus with alleged oppression : Shah Pulp and Paper Mills Ltd. v. Pravinchandra Hirji Shah (Bom) p. 36

F CLB cannot direct company to amend its memorandum and articles of association to give proportional representation on board of directors : Shah Pulp and Paper Mills Ltd. v. Pravinchandra Hirji Shah (Bom) p. 36

F Directions of CLB detrimental and prejudicial to interest of company not permissible : Shah Pulp and Paper Mills Ltd. v. Pravinchandra Hirji Shah (Bom) p. 36

F Petition u/s. 397/398 based on false and frivolous allegations to be dismissed : Shah Pulp and Paper Mills Ltd. v. Pravinchandra Hirji Shah (Bom) p. 36

F Balance-sheets filed with Registrar of Companies become public document : Non-receipt of share certificates and balance-sheets, not prejudicial nor oppressive : Shah Pulp and Paper Mills Ltd. v. Pravinchandra Hirji Shah (Bom) p. 36

F Failure to pay dividend, not oppression : Shah Pulp and Paper Mills Ltd. v. Pravinchandra Hirji Shah (Bom) p. 36

F Resolution for sale of undertaking as no bids received from minority shareholders, not oppression : Shah Pulp and Paper Mills Ltd. v. Pravinchandra Hirji Shah (Bom) p. 36

STATUTES AND NOTIFICATIONS




Circulars :

RBI Circulars :

F Delay in representation of technical return cheques and levy of charges for such returns--RBI/2012-13/493, DPSS.CO.CHD. No. 2030/03.06.01/2012-13, dated 7th May, 2013 p. 3

F Direct Benefit Transfer (DBT) Scheme--Implementation--RBI/2012-13/498, RPCD. CO. LBS. BC. No. 75/02.01.001/2012-13, dated 10th May, 2013 p. 6

F Export of Goods and Services--Realisation and Repatriation period for units in Special Economic Zones (SEZ)--RBI/2012-13/527, A. P. (DIR Series) Circular No. 108, dated 11th June, 2013 p. 10

F Foreign investment in India by SEBI registered long-term investors in Government dated Securities--RBI/2012-13/530, A. P. (DIR Series) Circular No. 111, dated 12th June, 2013 p. 14

F Legal audit of title documents in respect of large value loan accounts--RBI/2012-13/524, DBS. FrMC. BC. No. 7/23.04.001/2012-13, dated 7th June, 2013 p. 8

F Lending against gold--RBI/2012-13/522, RPCD. CO. RCB. BC. No. 77/07.51.014//2012-13, dated 6th June, 2013 p. 7

F NBFCs not to be Partners in Partnership Firms--Clarifications--RBI/2012-13/526, DNBS. PD/CC. No. 328/03.02.002/2012-13, dated 11th June, 2013 p. 11

F Ready Forward Contracts in Corporate Debt Securities--RBI/2012-13/525, UBD. BPD. (SCB). Cir. No. 4/16.20.000/2012-13, dated 10th June, 2013 p. 9

SEBI Circulars :

F Establishment of connectivity with both depositories NSDL and CDSL--Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal rolling settlement--CIR/MRD/DP/19/2013, dated 11th June, 2013 p. 15

Directions :

F Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 : Amendments p. 12

F Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 : Amendments p. 13

Regulations :

F Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2013 p. 2

F Foreign Exchange Management (Manner of Receipt and Payment) (Second Amendment) Regulations, 2013 p. 3

F Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Sixth Amendment) Regulations, 2013 p. 1

Notifications :

Securities Contracts (Regulation) Act, 1956 :
Notification under section 4 :
F Renewal of recognition to stock exchanges p. 16

JOURNAL




F Mutual funds--S. Balakrishnan p. 1

F Tempering the judicial intervention in grant of Government contracts--Vishal Mishra p. 15


COMPANY LAW INSTITUTE OF INDIA PVT. LTD.
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T.Nagar, Chennai - 600017.
Phone: (044) 24350752 - 55
Fax: (044) 24322015
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