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BIGGEST SCAMS IN INDIA

INTRODUCTION Corporate frauds & scams have become plaque for all the economies worldwide. India is also no stranger to scams which have resulted in loss of lakhs of crores of rupees to its economy. Due to this they have become

FEATURES OF THE COMPANIES ACT, 2013

INTRODUCTION The Companies Act, 1956 (The 1956 Act) was enacted with a view to consolidate and amend the pre-independence laws relating to companies and certain other associations. It had to undergo several amendments with time but to achieve global competitiveness

Utilization of Securities Premium Account

This article discusses the concept of Utilization of Securities Premium Account. In this, the author discusses in detail the functions and duties of the Security Premium Account. INTRODUCTION Security Premium is a prerequisite under the Companies Act which applies to

TYPES OF SHARES

INTRODUCTION The Capital of a Company is divided into specified numbers of equal units known as “Shares”. According to Section 2(84) of the Companies Act, 2013 (Hereinafter “The Act”), “Share” means a share in the share capital of a company

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Understanding Precedents

Alchemist Asset Reconstruction Co. Ltd. v. M/S Hotel Gaudavan Pvt. Ltd. [Supreme Court] Civil Appeal No. 16929 Of 2017

When the moratorium period is imposed then in such case certain activities as prescribed under the Act has been kept on stay i.e., during this time the corporate debtor shall not initiate the arbitration proceeding. In other words, that when the imposition of moratorium takes place then during that time the corporate debtor will not be allowed to invoke the provisions of remedy available under various different provisions.

Bristol and West Building Society versus Mothew, (1998) Ch. 1

This case gave a rather more concrete and segregated definition as to what all duties formed the body of fiduciary duty for a professional, and in what circumstances do these fiduciary duties arise and when are they are supposed to be followed by the professional in question. Although the solicitor as a professional had a fiduciary duty to uphold, but not every breach of care done by the solicitor as a professional can be counted as a breach of fiduciary duty. In the case of Mr. Mothew, the building society was made aware of all the risks involved, after which they had consented to the acts of Mothew. This, in turn, removed the causal link for the breach so alleged against Mr. Mothew.

V.S. Ramaswamy Iyer And Anr. vs Brahmayya & Co.

The position of the directors is indeed an important issue for the assessment liabilities of the directors. In this case, the position of the Director of the Bank was an important aspect for consideration. After the death of the director, the Court held that the claim made against the legal representatives of the director was barred by limitation, and therefore untenable before the court of law.

J & J Sports Production, Inc versus Royster, No. RWT 10cv 569

After their continuous absence and non-responsiveness to the notices of the Court, the court allowed plaintiff’s application for a default judgment The court allowed for recovery only under one statute because the offences under the two statures were essentially the same, and thus, allowing recovery under both the statutes would have been nothing less than ‘double recovery’ from the defendants. The Court pondered over damages under three heads – statutory damages, enhanced damages, and other fees related to Attorney’s costs and other costs so incurred.

Doctrine of Alter Ego

This article examines the doctrine of Alter Ego and its relationship with the doctrine of lifting or piercing of corporate veil. The article also differentiates the doctrine from vicarious liability. Introduction In the world of superheroes, the common people of

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