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Corporate Amicus: February 2015

Indian approach to taxi aggregators is the topic analysed in this month’s article in Corporate Amicus. It is stated that even though it becomes extremely difficult to make a law on each and every activity carried out in India, an exclusive law on e-commerce activity is recommended, particularly considering the growing market share of e-commerce in the economy.

Notifications and Circulars portion of this Amicus covers recent Companies (Removal of Difficulties) Order amending definition of ‘small company’ to provide that both the conditions (threshold for paid-up share capital and turnover) prescribed therein have to be fulfilled as against any one required earlier. CSR activities, through a company set up along with other company, have also been allowed. Companies (Appointment and Qualification of Directors) Rules, 2014 have been amended to add a proviso in Rule 16 of the said Rules, providing for filing of Form DIR-11 by the person authorized by the foreign director of company resigning from his office. Readers may go through the issue to know more about these developments.

Under Ratio decidendi, this issue covers orders where the Competition Commission of India (CCI) has in two separate orders pronounced this month, set aside allegations of abuse of dominance, noting absence of any cogent material submitted by the informants. Calcutta High Court has held that provisions relating to sick companies i.e. Sick Industrial Companies Act, 1985 (SICA) would not be applicable in case of a company where winding up order has already been passed by the company court.

February, 2015/Issue-43 February, 2015/Issue-43
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