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Corporate Amicus: July 2014

Satellite Communications Policy in India is the topic of discussion this month in Corporate Amicus. According to the author, a major overhaul in the legal and administrative policy framework governing satellite communications in India is required to achieve the dream of a “Digital India”.

The section on notifications and circulars as usual contains several important circulars issued by the Ministry of Corporate Affairs (MCA) including the one on related party transactions; resident director; share transfers and issuance of duplicate share certificates; and clarification on votng through electronic means (E-voting).

Reserve Bank of India has restored the earlier (prior to August 2013) limit for Overseas Direct Investment (ODI) by an Indian corporate while Companies (Cost Records and Audit) Rules, 2014 have been notified by the MCA. These developments are brought to readers in this issue.

Under Ratio decidendi, this July 2014 issue covers an order passed by the Securities Appellate Tribunal (SAT) on scope of the expression ‘fit and proper person’ to acquire shares of securities exchanges and an order of the Competition Appellate Tribunal (COMPAT) holding that there cannot be a restrictive ‘relevant market’ on the basis of a singular feature in the impugned goods.

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