One of the important steps after incorporating a wholly owned subsidiary (WOS) of a foreign company is opening of bank account and bringing in subscription money. IS THERE ANY TIMELINE FOR BRINGING IN THE SUBSCRIPTION MONEY.? To answer this question, we shall go through the....
The Entrepreneurs/Promoters conceive an idea to start a business which later on flourishes. These potential ideas, for reasons such as market situations, idea being ahead of its time, etc. may not work as envisioned. So, it becomes imperative for the entrepreneur to hold on for....
We are in the golden age of seed financing. Venture capital funds, seed funds, super angels, angel groups, incubators and “friends and family” are all playing the seed financing game and investing early in startups. The vast majority of high-growth startup companies rely on....
There are certain rules and regulations to be followed while establishing any legal venture, it gives an entity a legal identity. Establishing a business in any country requires diligent acknowledgment and adherence to the prevailing laws. In India, the Ministry of Corporate....
Indian Companies Act empowers Board of Directors to take most of the business decisions. However, there are certain matters which affect the shareholders which can only be approved in Shareholders meeting. Some of the matters which can be proceeded with only after....
Legal Framework SEBI (Settlement Proceedings) Regulations, 2018 {“the Regulations’}; effective from 1st January, 2019. SEBI Circular No. EFD/ED/Cir-1/2007 dated 20th April, 2007 SEBI Circular No. CIR/EFD/1/2012 dated 25th May, 2012 The adage “Justice....
Dealing with RBI has been never been an easy task but with the passage of time RBI has been putting lot of efforts to bridge the procedural gaps. RBI has been taking steps in this direction and a very good example of this is the consolidated Master Circular issued for each....
As per the Black’s Law Dictionary, to “Compound” means to settle a matter by a money payment, in lieu of other liability.” Thus, Compounding is a mechanism that provides the offender an opportunity to avoid prosecution for an offence committed by him by way of a monitory....
Section 9(3)(c) of the Code requires the Operational Creditor to submit, if available, a copy of certificate from the financial institution maintaining accounts of the operational creditor confirming that there is no payment of an unpaid operational debt by the corporate debtor.....
In Uttam Galwa Steel Limited v DF Deutsche Forfait Ag. Limited., two operational creditors (DF Deutsche Forfait AG and Misr Bank Europe Gmbh) filed a joint application against the Corporate Debtor for initiation of CIRP. The NCLT Bench held that Section 8 and Section 9 of....
