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Recent News From Corp Comm Legal

  • Strengthening the independent directors mechanism

    Strengthening the independent directors mechanism

    Published: 09 May 2018

    An Independent director is one of the key personnel in the administration and management of the a company’s affairs. Such director holds the responsibility to ensure that corporate affairs are conducted in a transparent manner leaving no latitude for any fraudulent transactions and uplifts the corporate governance standards of the company. Companies often ignore the importance of the character o...

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  • FEMA Cross Border Regulations - a welcome step

    FEMA Cross Border Regulations - a welcome step

    Published: 07 May 2018

    In today’s corporate world, due to high competition amid the companies, it is common practice amid corporate firms to acquire or merger with other entities for diversified reasons. Some ideas behind such M&A activities can be: (i)                to survive the market challenges and competition from contemporaries...

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  • Stopping the rot in Indian banking

    Stopping the rot in Indian banking

    Published: 06 May 2018

    The rot of fraudulent loans is not confined to Indian Public Sector Banks any more – private bankers are giving them a tough competition. Corporate and banking frauds seem to be flavor of the season in India sadly. Every day, Millions and billions of Rupees are reported to have been swindled by (so far very respected but in reality) fraudster businessmen acting hand in glove with (very sophisticat...

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  • SCORES - SEBI platform for investor complaints

    SCORES - SEBI platform for investor complaints

    Published: 04 May 2018

    The Securities Exchange Board of India (SEBI) has issued a directive (which will become effective from August 01, 2018) facilitating the investors to submit their complaints through SEBI Complaints Redress System (SCORES) platform directly to the listed companies with the objective to ensure speedy disposal of investor complaints. SCORES is a web based centralized system introduced in June 2011,...

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  • Misuse of Startup ecosystem

    Misuse of Startup ecosystem

    Published: 03 May 2018

    As per common understanding, a startup company is an entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a marketplace need by developing a viable business model around an innovative product, service, process or a platform. From the startup definitions used in government policies too, it is evident that only a newly incorporated company and not any...

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  • Need to eradicate tax terrorism

    Need to eradicate tax terrorism

    Published: 02 May 2018

    There is resentment in almost all quarters of Indian taxpayers (including salaried class, businessmen and small traders) with taxation policies and tactics adopted by the Finance Ministry and the Central Government. One of the tallest promises made by the Central government has been to curb tax terrorism. As part of its war against black money, central government had articulated the de-monetizat...

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  • Bringing financial fraudsters / absconders to book

    Bringing financial fraudsters / absconders to book

    Published: 01 May 2018

    There have been a string of recent incidents of businessmen committing default on the payments owed to banks and financial institutions and then fleeing overseas. According to official reports, 31 willful defaulters fled the country to avoid prosecution and punishment for violation of the laws and Indian authorities managed to get back only one person to India. This has exposed the imminent need...

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  • Startups - Angel Tax and other challenges

    Startups - Angel Tax and other challenges

    Published: 30 Apr 2018

    With a view to boost up the Startup eco-system and transform the nation into hub of startups, Indian government had initiated various schemes and programs (e.g., Startup India, Make in India, etc.). This is one side of the coin. On the other side, 30% tax levied on investments made by external investors in startups is considered (‘Angel Tax’) imposed by the government is the cause for concern ...

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