Search Results for Tag : Directors
International Cases
Directors did not have the authority to represent the company in the POCA litigation(01.12.2023)
The Appellant (the company) has been in business rescue in terms of Chapter 6 of the Companies Act, 2008. The fourth and fifth respondents on appeal w.....
Tags : BRPs, Directors, Authority
Top Story
Government amends Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2014 easing norms for independent directors(18.12.2020)
Central Government amends Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2014 in exercise of powers conferred under Sec.....
Tags : Rules, Amendment, Independent directors
Judgments
Summons to directors justified, if complaint filed under Sections 138 & 141 of NI Act alleges that Directors were in charge of and were responsible for conduct of business of the company(08.10.2021)
The present appeals are directed against the common judgment filed at the instance of the Appellants under Section 482 of Code of Criminal Procedure, .....
Tags : Directors, Liability, Cheque bounce
Vehicles purchased by company for officers’ personal use not excluded from consumer protection law(08.07.2016)
The National Consumer Disputes Redressal Commission held that vehicles purchased by a company for its directors for their personal use are not exclude.....
Tags : consumer protection, vehicles, comercial use, directors
Notifications & Circulars
Split of position of Chairperson and Managing Directors in listed companies(24.07.2018)
The Securities and Exchange Board of India (SEBI), based on the recommendations of Kotak Committee on Corporate Governance, has amended the SEBI (List.....
Tags : Split, Position, Chairperson, Managing Directors
Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020(29.04.2020)
In exercise of the powers conferred by section 149 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes .....
Tags : Amendment, Rules, Appointment, Directors
Greater vigilance for multiple directorships and common addresses of companies(03.11.2015)
The Special Investigation Team has sought permission from the Ministry of Corporate Affairs to take action against violations of the Companies Act, 19.....
Tags : Company, address, operating, directorship
Independent Directors in PSUs(02.12.2015)
Minister of Corporate Affairs, Arun Jaitley, stated in a reply to Parliament that the appointment of independent directors on the boards of public sec.....
Tags : Independent directors, psu, department, public enterprises
Clarifications on the Income Declaration Scheme, 2016(14.07.2016)
The Central Board of Direct Taxes released additional clarifications on the Income Declaration Scheme 2016.
In answers to ten additional qu.....
Tags : income declaration scheme, revision, directors, partners
News
MCA Notifies Deflagging of Disqualified DINs of Directors Post-Demonetization(11.11.2021)
Ministry of Corporate Affairs (MCA) has notified that the Director Identification Numbers (DINs) of Directors found to be disqualified post-demonetiza.....
Tags : Ministry of Corporate Affairs, Disqualified DINs of Directors Post-Demonetization
President of India Promulgates Ordinance to Allow Extension of Tenure of CBI and ED Directors(15.11.2021)
President of India has promulgated two Ordinances to allow the extension of the tenure of the Directors of the Central Bureau of Investigation (CBI) a.....
Tags : President of India, Extension of Tenure of CBI and ED Directors
Delhi HC: Non-Executive Directors of Company Immune from Cheque Dishonor Proceedings(11.03.2020)
Delhi High Court has held that the non-executive directors of a company are exempted from the cheque dishonour proceedings under Section 138 of the Ne.....
Tags : Delhi High Court, Non-Executive Directors
Supreme Court: Directors of Company Not Liable For Dishonor of Cheque After Their Retirement(16.02.2024)
Supreme Court has observed that the Director of a company cannot be held liable for the dishonor of a cheque after his retirement, which has been issu.....
Tags : Supreme Court, Dishonor of Cheque, Directors of Company
NCLT: Appointing New Directors Without Consent of Petitioner Shareholders Amounts to 'Oppression'(30.05.2017)
NCLT has held that increasing authorised share capital of company, appointing additional directors and transferring shares to non-members without noti.....
Tags : NCLT, additional directors, Oppression
RBI Relaxes Norms on Loans to CEOs, Directors of Banks(17.09.2015)
RBI has said that loans granted to CEO and Whole Time Director of banks for purchasing car, personal computer, furniture, constructing/acquiring house.....
Tags : RBI, Loans to CEOs, Directors of Banks
Allahabad High Court Stays Arrest of Directors and Writers of ‘Mirzapur’ Series(19.02.2021)
Allahabad High Court has stayed the arrest of 'Mirzapur Series' Directors and Writers namely Karan Anshuman, Gurmeet Singh, Puneet Krishna and Vineet .....
Tags : Allahabad High Court, Directors and Writers of ‘Mirzapur’ Series
Lok Sabha Passes Bills Enabling Extension of Term of CBI, ED Directors Up To 5 Years(10.12.2021)
Lok Sabha has passed Central Vigilance Commission (Amendment) Bill, 2021 and the Delhi Special Police Establishment (Amendment) Bill, 2021, to amend t.....
Tags : Lok Sabha, Extension of Term of CBI, ED Directors
AAR, Karnataka: No GST on Full-Time Directors’ Salary(11.05.2020)
Authority of Advance Ruling, Karnataka has clarified that if the director is an employee of the company, there will be no incidence of Goods and Servi.....
Tags : Authority of Advance Ruling, GST on Full-Time Directors’ Salary
MCA Amends Companies (Appointment and Qualification of Directors) Rules, 2014(09.05.2018)
Ministry of Corporate Affairs (MCA) has amended Companies (Appointment and Qualification of Directors) Rules, 2014 by the Companies (Appointment and Q.....
Tags : Companies, Directors
MCA Amends Companies (Meetings of Board and Its Powers) Rules 2014(09.05.2018)
Ministry of Corporate Affairs (MCA) has amended the Companies (Meetings of Board and Its Powers) Rules 2014 by the Companies (Meetings of Board and It.....
Tags : Companies, Directors
Madras HC: Appointment of Independent Directors in Social Audit of MGNREGA is Must(18.02.2020)
Madras High Court has directed the State of Tamil Nadu to issue fresh Government Order prescribing the qualifications for the appointment of independe.....
Tags : Madras High Court, Appointment of Independent Directors in Social Audit
SEBI Notifies Promoters and Directors Dealings to be Brought Under System Driven Disclosures(17.06.2021)
Securities and Exchange Board of India has decided to bring listed companies' promoters and directors' dealings in listed debt securities under the pu.....
Tags : Securities and Exchange Board of India, Promoters and Directors Dealings
SC: Directors Can’t be Vicariously Liable for Offence of Company Unless their Involvement Shown(03.08.2024)
Supreme Court has held that directors of a company cannot be made vicariously liable for offence committed by the company under the National Housing B.....
Tags : Supreme Court, Vicariously Liable, Directors
Personal Expenses of Directors of Company Can’t be Disallowed Without Sufficient Proof: ITAT(24.09.2018)
Delhi bench of ITAT, has held that while deleting an addition against the assessee-Company, that the personal expenses of the Directors/ Office bearer.....
Tags : ITAT, Personal Expenses of Directors
SEBI: Two-Thirds of Members of NRC and AC of Listed Company to be Independent Directors(30.06.2021)
Securities and Exchange Board of India has said that two-thirds of the members of the nomination & remuneration committee (NRC) and the audit committe.....
Tags : Securities and Exchange Board of India, Independent Directors
Delhi HC: Directors Responsible for Conduct of Business Can't be Liable If No Offence Is Attributed(10.05.2022)
Delhi High Court has observed that if no offence is attributed to the company, it is but the natural corollary, that its Directors and other persons r.....
Tags : Delhi High Court, Directors, natural corollary
Kerala HC: Directors of Company Cannot be Implicated Without Specific Averments(17.01.2022)
Kerala High Court has ruled that Directors of a company cannot be implicated without specific averments indicating their role in the offence, particul.....
Tags : Kerala High Court, Directors of Company
Madras HC Sets Aside RoC’s Order Disqualifying Directors For Non-Filing of Financial Statements(08.08.2018)
Madras High Court has set aside the disqualification of directors of private companies for failure to file annual returns/ financial statement for thr.....
Tags : Madras High Court, Directors
Supreme Court Stays Bombay HC Order Granting Relief to Disqualified Directors(08.08.2018)
Supreme Court has stayed a Bombay High Court order, which gave relief to directors of the companies struck off by the Registrar of Companies (RoC) las.....
Tags : Supreme Court, Directors
Karnataka HC: Directors of Company Can't Be Prosecuted Unless They Played "Active Role" in Process(20.05.2022)
Karnataka High Court has quashed the criminal proceedings initiated against the Proprietors/ Directors of a drugs manufacturing company for alleged pr.....
Tags : Karnataka High Court, Criminal Proceeding, Active Role, Directors
Delhi HC Orders Ministry of Corporate Affairs to Set Aside Disqualification of Directors(07.09.2020)
Delhi High Court has passed an order to set aside the disqualification of Petitioners as Directors who were disqualified under a retrospective applica.....
Tags : Delhi High Court, Disqualification of Directors
Bombay HC: Directors Above 70 Yrs of Age Need SR and 3/4th Shareholders' Nod to Stay(19.02.2016)
Bombay HC has ruled that incumbent directors who are 70 years old and above will face automatic disqualification if they are not elected by a Special .....
Tags : Bombay HC, directors
Gujarat High Court Quashes MCA List of Disqualified Directors(27.12.2018)
Gujarat High Court has quashed the list of disqualified directors published by Ministry of Corporate Affairs (MCA) on September 12, 2017 and held that.....
Tags : Gujarat High Court, Disqualified Directors, Ministry of Corporate Affairs
SC: Can’t Hold Independent Directors Liable under NI Act Unless Direct Involvement Shown(06.03.2025)
Supreme Court has observed that non-executive and independent directors cannot be held liable under Section 138 read with Section 141 of the Negotiabl.....
Tags : Supreme Court, Independent Directors, Direct Involvement
Cal. HC: Cheating Case Against Directors Can’t Survive w/o Impleading Company(12.09.2023)
Calcutta High Court has held that when the agreement was entered into by and between the companies, criminal proceedings in a cheating case can’t surv.....
Tags : Calcutta High Court, Directors, Impleading Company
SC to Consider Constitutionality of Amendment Decreasing Number of Directors in Cooperative Society(27.03.2025)
Supreme Court has issued notice on the issue whether the ground for amendment to the Maharashtra Cooperative Societies Act, 1960 with regard to reduci.....
Tags : Supreme Court, Number of Directors, Cooperative Society
Madras HC Quashes Case Booked by Economic Offences Wing Against ITNL and Directors(02.09.2021)
Madras High Court has quashed a case booked by Economic Offences Wing against IL&FS Transportation Networks India Limited (ITNL) and its former direct.....
Tags : Madras High Court, ITNL and Directors
SEBI Rejects Appointment of 2 Shareholder Directors of NSE(09.09.2020)
Securities and Exchange Board of India (SEBI) has rejected the reappointment of two long-time shareholder directors on the board of the National Stock.....
Tags : Securities and Exchange Board of India, Appointment of Directors
Delhi HC: Non-Teaching Directors at IGNOU Can't Claim Higher Superannuation Age(07.10.2025)
Delhi High Court ruled that individuals holding Director positions at Indira Gandhi National Open University (IGNOU) are not classified as 'teachers.'.....
Tags : Directors, Indira Gandhi National Open University, Superannuation Age
Bombay HC: IBC Proceedings Don't Bar Criminal Case under NI Act Against Directors(07.10.2025)
Bombay High Court has held that prior initiation of Insolvency and Bankruptcy Code (IBC) proceedings does not bar criminal prosecution of directors un.....
Tags : Insolvency and Bankruptcy Code, Negotiable Instruments Act, Directors
NCLT Mumbai: Independent Directors Cannot Automatically Avoid Liability for Fraud under IBC(04.11.2025)
NCLT Mumbai ruled that independent directors cannot automatically evade liability for a company's alleged fraud under the IBC, stating that holding th.....
Tags : Directors, Fraud, Liability
SC: Moratorium Does Not Apply to Proceedings in Respect of Directors/Management of Corporate Debtor(17.09.2021)
Supreme Court has observed that the moratorium ordered under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not apply in respect of the d.....
Tags : Supreme Court, Proceedings in Respect of Directors/Management of Corporate Debtor
FIR Against PVR's Directors, Promoters for Cheating, Forgery(29.11.2017)
FIR Against PVR's Directors, Promoters for Cheating, Forgery
Tags : The case came to light when Elan Group filed a complaint in the court, which on November 17 directed the local police to register an FIR against Chairman and Managing Director of PVR Limited Ajay Bijli, and directors Niharika Bijli, Sanjeev Kumar Bijli and others.