Background Securities and Exchange Board of India (“SEBI”) vide its notification dated 16th June, 2020 has issued the Substantial Acquisition of Shares and Takeovers (Amendment) Regulations, 2020 (“SAST”) under which promoters are provided with relaxation of holding more than 25% of the stake in listed companies upto 35% without triggering an open offer obligation.  Key...Continue Reading

AMENDMENT IN COMPANIES (MEETING OF BOARD AND ITS POWERS) RULES, 2014 Background Ministry of Corporate Affairs (“MCA”) vide its Circular dated 15th June, 2021 has issued Companies (Meeting of Board and its Powers) Amendment Rules, 2021 and has omitted Rule 4 of the Companies (Meeting of Board and its Powers) Rules, 2014 furthermore has provided...Continue Reading

Background Ministry of Corporate Affairs (“MCA”) vide its notification dated 29th April, 2020 has issued the Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020 which extended the period for registration of Independent Directors in the Databank from “Five” (5) months to “seven” (7) months effective from 1st December, 2019 by applying online to...Continue Reading

Background Securities and Exchange Board of India (“SEBI”) vide its notification dated 16th June, 2020 has issued the “Issue of Capital and Disclosure Requirements (Amendment) Regulations, 2020” (“ICDR”) under which time line of raising the funds through issuance of Equity Shares by way of Qualified Institutions Placement (QIP) has been reduced from six months to...Continue Reading

INTRODUCTION It has been observed that due to applicability of additional fee on late filing, which in case of inordinate delay could actually become a financial burden, a large number of Limited Liability Partnerships (LLPs) have remained non-compliant, mainly on account of their inability to pay late fees for the cumulative period of delay. As...Continue Reading

Ministry of Labour and Employment, Government of India has conveyed its firm intent that forty four central legislations pertaining to labour, industrial and environment related will be merged and subsumed into four codes. The first code (i.e. Code on wages, 2019) has already become a law on August 08, 2019 after receiving assent of President...Continue Reading

Labour codes: There can be a big change in the employee’s salary structure. The new wage code was to be implemented from April 1, but the Ministry of Labour postponed it. Media reports said that if the same is implemented from 1st July, then there can be a big change in the salary structure. Once...Continue Reading

Independent directors have a crucial role to play for keeping good governance practices.  Ministry of Corporate Affairs (“MCA”) along with Indian Institute of Corporate Affairs (IICA) has developed a databank of Independent Directors in accordance with the provisions of Section 150 of the Companies Act, 2013. APPLICABILITY: Individual already acting or aspiring to become Independent...Continue Reading

A fixed-term contract means a contract entered by the employer with each individual employee for a fixed period. This period is stipulated in the contract of employment and may be renewed after expiry depending on the requirements of a particular role. Initially Fixed term employment was introduced in 2018 by amending the Central Rules under the Industrial Employment (Standing...Continue Reading

KEY TAKEAWAYS: CONSUMER PROTECTION ACT, 2019 The Digital Age has ushered in a new era of commerce and digital branding, as well as a new set of customer expectations. Digitisation has provided easy access, a large variety of choice, convenient payment mechanisms, improved services and shopping as per convenience. However, along the growth path it...Continue Reading