Disqualification of Directors – Madras HC sets aside order of ROC

The analysis of the judgment of the Hon’ble High Court of Judicature at Madras dated 3rd August, 2018 in the case of Bhagavan Das Dhananjaya Das v. Union of India & others is an important one for all professionals to learn what direction this may take in the future. A copy of this judgment can …

Provisions behind tax demand on CTS

We know that the IT department has raised a tax demand of Rs. 2,800 crores from Cognizant Technology Solutions India Private Limited (CTS India) and that its bank accounts have been attached. Also, now the Madras HC has passed an interim direction asking the Department to unfreeze the JP Morgan bank account of the Company …

The Past Week at MCA (Feb 1st Week)

New way to sign your way into MCA Portal MCA has introduced the system of emSigner – a tool already in use by some regulatory websites – for sign in using DSC. Practically speaking, the earlier process of Java compatibility and other issues made the process of using DSC a complex affair and worked best …

Mergers – Capital First with IDFC Bank and Idea-Vodafone

Merger of Capital First companies with IDFC Bank The Board of Directors of IDFC Bank Limited, at its meeting held on January 13, 2018, has approved a composite scheme of amalgamation of Warburg Pincus-banked Capital First Limited, Capital First Home Finance Limited and Capital First Securities Limited with IDFC Bank Limited. This is subject to …

News – RBI, BSE trigger IBC and others…

The Second List of Defaulters Earlier, in June 2017, RBI had asked the banks to initiate proceedings under the Insolvency and Bankruptcy Code, 2016 before the NCLT against 12 defaulting companies including Bhushan Steel, Essar Steel, Jaypee Infratech, Monnet Ispat and Energy, Amtek Auto and a few others. It had given a months’ time to …