NL – FAQs on Dematerialisation of securities with specific reference to Private Companies

One of the major amendments notified by MCA that has taken effect from the 01st October, 2023 is the requirement of demateralising ...

NL – CCPA Guidelines on Greenwashing

Greenwashing is the practice of making false or misleading claims about a product, service, or company's environmental impact.
Greenwashing can take man...

NL – Enhanced Corporate Governance compliances for NBFCs under RBI (NBFC-Scale Based Regulations) Directions, 2023

Section 45 IA of Reserve Bank of India Act, 1934 (RBI Act) governs the functioning of NBFCs so much so that any company carrying on the activities of an NBFC has to obtain ...

NL – LISTING OF SMEs ON SME EXCHANGE

Small and Medium Enterprises (SME) make up nearly 90% of the business globally and employs nearly 60% of the total work force. While the SME sector has shown development an...

NL – LISTING OF CHARITABLE INSTITUTIONS ON SOCIAL STOCK EXCHANGE

With Corporate Social Responsibility (CSR), Sustainability Development Goals (SDG) and Environment, Social and Governance (ESG) concepts gaining much momentum in the last d...

NL – CORPORATE CLIMATE ACTION PROGRAMMES – BARE MINIMUM REQUIREMENT IN DISCLOSURES

The capital market regulator, the Securities and Exchange Board of India (SEBI) has introduced updated format of Business Responsibility and Sustainability Reporting (BRSR...

A GIANT LEAP FOR UNLISTED COMPANIES IN INDIA

Section 23 of the Companies Act, 2013 (the Act) inter alia provides power to the Central Government to notify such class of public companies to issue such class of securiti...

NL on Mere change in controlling shareholders will not trigger the need for securing fresh exemption under Appendix A of The Employees’ Provident Funds Scheme, 1952

The legislation for a provident fund was created in pursuit of the declared objective under Constitution of India that the State shall make effective provision for securing...

NL on PITFALLS OF ORDINARY DICTIONARY WORDS ADOPTED AS BRANDS

REGISTERED TRADEMARKS ENJOY STATUTORY PROTECTION AGAINST INFRINGEMENT
A Trademark is a name, logo or symbol associated with goods or services of a comp...

NL on Secretarial Auditing Standards issued by The Institute of Company Secretaries of India (ICSI) – A brief review on the need to interact with Management of the Auditee Company.

Audit planning means establishing and developing an overall audit process, including but not limited to, seeking previous audit findings and observations from the Manageme...

NL on Mandatory Dematerialisation of Private Company’s Securities, Disclosure regarding Share Warrants of Public Company and Appointment of Designated Person w.r.t. Beneficial Interest

Through its two recent Notifications dated 27^th October, 2023 the Ministry of Corporate Affairs (MCA) has effected amendments to certain provisions in (a) Compan...

NL on BEWARE OF COST OF NON-COMPLIANCE

IF YOU THINK COMPLIANCE IS COSTLY TRY NON-COMPLIANCE
“If you think compliance is costly, try non-compliance,” s...

NewsLetter-Copyright Law Basics

Introduction:-
Intellectual Property (IP) Rights are intangible legal rights which are commonly utilized by the producers of the goods & services in...

NL – BANK IS LIABLE FOR THE SAFE CUSTODY OF TITLE DEEDS OF MORTGAGED PROPERTIES

An interesting case arose before the National Consumer Disputes Redressal Commission (NCDRC) in the complaint filed by one Mr. Manoj Madhusudhanan against ICICI Bank Limite...

Newsletter on Timeline for filing casual vacancies of Directors and KMPs for Listed Entities

With effect from 14^th July 2023, Securities and Exchange Board of India (“SEBI”) has introduced a time period for filling up casual vacancies arising in the off...

NL on Registration of Industrial Designs.

Introduction:-
Intellectual Property (IP) Rights are intangible legal rights which results from intellectual activity in industrial, scientific, litera...

SEBI LODR New Thresholds for disclosure of material information

New quantitative thresholds for determination of materiality of events / information under the Listing Regulations
With effect from 14^th Jul...

SEBI (LODR) (Second Amendment) Regulations, 2023

Applicability Timeline Chart of the recent amendments to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Securities and E...

Corporate Social Responsibility Policy Committee – NL

Ever since spending a portion of net profits on CSR Activities of companies that meet specified thresholds stipulated...

Appointment, Re-Appointment, Resignationand Removal of Independent Director in Listed Entities

As the expression goes, Independent Director (ID) must have special attributes and must not be hit by any of the inel...

Defaulting Private Companies are not entitled to avail certain Exemptions and Modifications that apply to Private Companies – NL

Business Entity Formation requires consideration of several present and future aspects and prospects. Except certain s...

Compliances under Takeover Code – Word of Caution!

Takeover Code, known as the SEBI (Substantial Acquisition of Shares and Takeover) Regulation, 2011, acts not only as a...

“Now there is more reason to run your business as a company under the Companies Act, 2013” – NL

Ministry of Corporate Affairs (MCA) revises the definition of “Small Company” to boost ease of doing business

Small com...

NL – OVERSEAS DIRECT INVESTMENT BY INDIAN ENTITIES – REVISED REGULATORY FRAMEWORK

The Foreign Exchange Management (Overseas Investment) Rules, 2022 and The Foreign Exchange Management (Overseas Investment) Regulations, 2022, were issued on 22^nd

NL-ARE YOU A DIRECTOR? KNOW YOUR DUTIES AND LIABILITIES!

This book written by Dr. K.S. Ravichandran on Duties and Liabilities of Directors is a one stop solution for all the queries that would come to your mind when you think abo...

NL-Advisory issued by NSE and BSE under Regulation 46 and 62 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015

SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) contain various conditions and compliance requirements that bind listed entit...

NL-FCRA – Let us look at the recent amendments to the Rules

Foreign Contribution Regulation Act, 2010 (FCRA) regulates receipt of money or any other contribution from any foreign source other than remittances by way of payment for g...

INFRINGEMENT OF TRADEMARKS

We are writing on this subject in view of the increasing number of cases involving unscrupulous traders using well known trademarks unmindful of legal action by way of pass...

SMALL SHAREHOLDERS DIRECTORS UNDER THE COMPANIES ACT, 2013.

Election of directors by members in a company normally happens on the basis of maioris regula i.e., majority rule. The concept of constituency directorshi...

PRIMER ON APPLICABILITY OF COMPANIES ACT, 2013 ON FOREIGN COMPANY

Normally, the term Foreign Company is understood from a common man’s view to denote a company which is incorporated and or operated outside the country. However, in order t...

COVID INITIATIVES UNDER CSR

On 11^th March 2020, the World Health Organization (WHO) declared the Novel Coronavirus Disease (COVID-19) outbreak as a pandemic. Pursuant to which, Government o...

All About Section 8 Company

Companies registered under Section 8 of the Companies Act, 2013 (the Act) are special to the extent that they are specifically formed with an object to promote commerce, ar...

PAYMENT OF REMUNERATION TO NON-EXECUTIVE AND INDEPENDENT DIRECTORS OF A PUBLIC COMPANY IN ABSENCE OF PROFITS OR INADEQUATE PROFITS:

1. With the notification issued by the Ministry of Corporate Affairs dated 18^th March 2021, has brought into effect the amendments to Section 149(9...

DELAYED PAYMENT TO MICRO OR SMALL ENTERPRISES AND IT’S CONSEQUENCES

1. As per the notification issued by the Ministry of Micro, Small and Medium Enterprises dated 2^nd November 2018 and by the Ministry of Corporate A...

NOTE ON COMPLIANCE WITH THE PROVISIONS PERTAINING TO CORPORATE SOCIAL RESPONSIBILITY (“CSR”) IN PURSUANCE TO COMPANIES (AMENDMENT) ACT, 2020 AND COMPANIES (CSR POLICY) AMENDMENT RULES, 2021

Applicability - Section 135 (1)

The following class of the Companies shall be required to co...

AN OVERVIEW OF PATENT OPPOSITION SYSTEM

A patent is an exclusive right granted to the original inventor for a novel product or a novel process that provides, a unique way of doing something, or which discloses a ...

Proposed Law To Regulate Public Trust in Tamilnadu

A public trust is one of the legal forms through which a property may be dedicated either to charitable purposes, educational or otherwise. The distinction between a Privat...

DISCLOSURE OF IMPACT OF COVID – 19 BY LISTED COMPANIES:

The Securities and Exchange Board of India (SEBI), vide its circular dated May 20, 2020, has mandated listed companies to disclose the impact caused by COVID -19 to their b...

Electronic General Meetings During COVID Lockdown

Ministry of Corporate Affairs (MCA) vide Circular dated 08^th April, 2020, provided the framework for conducting Extraordinary General Meetings (EGM) through vide...

COVID-19 and its impact on contractual obligations

COVID19 has thrown out of gear the functioning of commercial and industrial enterprises and institutions. Prolonged spells of Lockdown induced by COVID19 has brought diffic...

COMPANIES FRESH START SCHEME, 2020

The Ministry of Corporate Affairs (MCA) vide General Circular No.12/2020 dated 30/03/2020 has introduced Companies Fresh Start Scheme, 2020 (CFSS / Scheme)...

EMPLOYMENT OF CONTRACT LABOUR

Under the Contract Labour (Regulation and Abolition) Act, 1970 (The Act), every establishment in which 20 or more workmen are employed as contract labour, must apply to the...

NOMINATION CANNOT OVERRULE SUCCESSION RIGHTS

The right to nominate a person to whom securities of a company will vest upon the death of the holder of such securities is provided in the Companies Act, 2013 (the Act) un...

VICARIOUS LIABILITY OF DIRECTORS IN CRIMINAL OFFENCES – WHEN APPLICABLE

Liability of directors for criminal offences by companies are dealt differently when compared to civil offences. Any default of compliance of provisions under the Companies...

“AUTHORIZED SIGNATORY” WHO CAN AUTHENTICATE DOCUMENTS / CONTRACTS / REGULATORY FILINGS ON BEHALF OF A COMPANY?

As per Section 21 of Companies Act, 2013 [CA,2013]: a document or proceeding requiring authentication by a company; or contracts made by or on behalf of a company, may be s...

BANKRUPTCY UNDER IBC

A Quick Glance on the Process

India has introduced Insolvency and Bankruptcy Cod...

LIQUIDATION PROCESS – REJIGGED

The Insolvency and Bankruptcy Code, 2016 (IBC) has brought in a paradigm shift in the corporate insolvency resolution and liquidation processes through a pro-active, time b...

ADJUDICATION OF PENALTIES – AVOIDABLE LIABILITY

The Companies Act, 2013 (the Act) vide Section 454 provides for adjudication mechanism for imposing penalties for non-compliance of provisions of the Act. Accordingly, the ...

CONFUSING TRADEMARK- A Lesson

The basic function of a trademark is to distinguish goods or services from one source from that of the other. The concept of distinctiveness is the hallmark of a trademark....

TAGGING OF COMPANIES

The Ministry of Corporate Affairs (MCA) has vide Notification dated 21st February, 2019 has amended the Companies (Incorporation) Rules, 2014 by insertion of a new Rule 25A...