23 June, 2015
Division Bench of the Bombay High Court has reversed the Order of the Single Bench holding that the pre-emption right as recognised by certain clause of the Protocol Agreement which was incorporated in the Articles of Association of the company, was contrary to the provisions of the Companies Act and hence was unenforceable. The impugned order had held that Protocol...
24th June, 2013
The High Court of Delhi has overruled the decision of the Company Law Board (CLB) wherein the CLB had held that since there was no bar on affirmative vote in the Articles of Association of the company, a provision in a Joint Venture Agreement providing for affirmative votes must be given effect to even if it is not incorporated in the Articles of Association of the company.
By Anup Koushik Karavadi
‘Squeeze Out’ provisions in the Companies Act, 1956 enable the majority shareholder holding above a prescribed threshold limit to “squeeze-out” the minority shareholders and acquire the entire shareholding in a company.
Shareholding – Majority rule & minority rights
Shares in a company comprise a bundle of rights and responsibilities subject to t...
31st January, 2012
Shareholders' meeting through video conferencing will not be mandatory after 2011-12 also. It will continue to be optional for listed companies as per Circular No. 72/2011, dated 27-12-2011 issued by the Ministry of Corporate Affairs.
In its June, 2011 circular, the MCA had asked listed companies to mandatorily conduct shareholders' meeting electronically after 2011-12. ...
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