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December 26, 2023
The Companies Act 1956 does not deal with succession, nor does it override the laws of succession such as the Indian Succession Act, 1925, or the Hindu Succession Act, 1956, the apex court ruled
December 23, 2023
The Supreme Court has held that the non-obstante clause in both Section 109A(3) of the Companies Act, 1956 & Bye-law 9.11.7 of the Depositories Act, 1996, does not exclude the legal heirs from their...
December 22, 2023
The Supreme Court has held that the nomination process under the Companies Act, 1956 (pari materia Companies Act, 2013) does not override succession laws. It is beyond the scope of the companys...
December 21, 2023
Coming down heavily on National Securities Depositaries Ltd (NSDL) and the Securities and Exchange Board of India (SEBI) for transferring, without any authority of law, fungible shares pledged by Karvy Stock Broking Ltd with four banks and one non-banking finance company (NBFC),
December 21, 2023
The Appellate Tribunal criticized NSDL for transferring the pledged shares to Karvy's clients without proper legal authority.
December 20, 2023
The apex court said the vesting of securities in favour of the nominee was for the limited purpose of ensuring there is no confusion pertaining to the legal formalities to be undertaken upon the death of the holder.
December 13, 2023
Moneycontrol has learnt that in the runup to the Union Budget, the group will shortlist provisions in various Acts in which imprisonment can be done away and replaced with a penalty. The Income Tax Act, Central Excise Act and Central Goods and Services Tax Act are also being looked at
October 31, 2023
The depository services company reported a consolidated profit of Rs 109 crore for the quarter ended September. Its profit was higher by 35.4% YoY from Rs 80 crore reported in the corresponding quarter in the previous year, backed by a healthy topline and EBITDA
October 29, 2023
Indias Ministry of Corporate Affairs (MCA) has mandated that large unlisted private companies, including unicorns, issue securities only in dematerialized form, giving them until the end of September 2024 to comply with the rule. The move is expected to enhance transparency in the financial market and encourage companies to disclose their share structures more openly.