September issue of Corporate Amicus carries an article discussing the hotly debated issue - whether plastics should be banned or not. The author mentions the pendency of a petition before the National Green Tribunal (NGT) seeking a ban on the use of plastic bottles whereas according to her a total ban on plastic packaging, will not address the health and waste management issues but, may negatively impact the nation’s economic health.
Notification & Circular section of this issue includes notification issued by Ministry of Corporate Affairs on amendments made to Companies (Management and Administration) Rules, 2014. Further, Securities Exchange Board of India (SEBI) has notified the SEBI Regulations, 2015 to consolidate and streamline the provisions of existing listing agreements for different segments of the capital market and the same is also covered under this section.
Ratio Decidendi of this issue brings to readers interesting case law like Supreme Court judgment upholding that mis-description of the parties in an agreement will not affect maintainability of an application for appointment of arbitrator. Further, in another case the Apex Court order holding that the increase in value of property due to subsequent development is not a relevant consideration in determining the legality of the order accepting the bid for sale of company property is also covered in this section.